Why does funding higher education matter to Michigan's economy? The University of Michigan has launched seven start-ups in the last year alone and recorded a record-high 329 patents.
Excerpt:The total number of UM startups over the last seven years is 62, with more than 60 percent of the new businesses located in Michigan, primarily in the Ann Arbor area.
"This success is a prime reason Ann Arbor was singled out as being on the verge of becoming one of the world's hot spots for startups by Fast Company magazine in July," said Ken Nisbet, executive director of UM Tech Transfer.
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