More than $110,000 awarded to Michigan student startups through business competitions
The brace created by Exo Dynamics aims to help doctors avoid back pain. The company, started by a University of Michigan Ph.D. student won $15,000 through the Michigan Business Challenge.
Ben Freed | AnnArbor.com file photo
The programs, part of the Zell Lurie Institute for Entrepreneurial Studies, award $200 to $1,000 grants that are funded by alumni and partnering companies. For some student startups, this is the only influx of outside capital their companies will receive.
Medical engineering startup Exo Dynamics took second place in the multi-round Michigan Business Challenge. The company is developing a new type of back brace for medical professionals and will use the $15,000 it won to move into new offices on the North Campus Research Complex.
The company had been working in student startup incubator TechArb, but has phased out of the space.
Fellow student startup Kymeira Advanced Materials won a $5,000 Dare to Dream grant. Kymeira previously won the student business category at the Accelerate Michigan competition in November.
Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2
Comments
Jeffersonian Liberal
Sat, Mar 2, 2013 : 2:57 p.m.
More tax dollars diverted from things the Government is Constitutionally responsible for funding. The politicians continually cry poor as the Universities intrude into the free market picking winners and losers. There was a time when the venture capitalist gambled their own money on a good thing. A politician or University has nothing to lose and is never called out for the failures.
Kai Petainen
Fri, Mar 1, 2013 : 10:01 p.m.
Cool stuff!