Two A2 tech firms land $357K in seed funding

Thursday, March 22, 2007 | Source: Great Lakes IT Report

Ann Arbor Spark and Michigan's 12 SmartZone economic development areas have awarded a total of more than $600,000 in funding to three tech firms. Two of the companies are located in Ann Arbor:

Pixel Velocity, a defense applications firm, received $250,000, and
OTO Medicine, a biopharmeceutical company, received $107,000.

Excerpt:

"The fund is a signal to investors that Michigan is committed to supporting entrepreneurs," said Michael A. Finney, CEO of Ann Arbor Spark. "By providing funding to companies that have a market-ready product, the fund enables activities necessary to actually bring that product to market and drive revenue: Marketing, sales, initial customer acquisition, and the addition of staff to support growth."

Read the entire article here.