GRAND RAPIDS – The MI-SBTDC Technology Team’s 2007 economic impact survey shows the clients of this SBA-backed organization raised investment capital of $29.4 million, added 163 news jobs, and increased client sales by an average of $432,000.
Other reported indicators of this impact:
– 84 sub-contractors
– 30 new patents
– $7.3 million in government high-tech funding
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The MI-SBTDC Technology Team annually surveys its clients to analyze the level of impact their services have on Michigan’s economy. The $29.4 million capital raised in 2007 is expected to have a greater impact on Michigan’s economy down the road.
The Technology Teams’ clients are mostly high-tech companies in early development stages and are expected to stay in Michigan and grow! The new 163 high-tech jobs are welcomed news for Michigan’s economy.
An additional boost comes from the increased company sales and the hiring of independent contractors, both of which increase spending dollars in the hands of Michigan residents. The 30 new patents issued in 2007 (a total of 95 were filed) and the additional $7.3 million in government SBIR/STTR high-tech funding also validates the work of the Technology Team in 2007.
The growth of Michigan’s technology based industries is on the rise and is a direct result of the MI-SBTDC Technology Team.
The mission of the MI-SBTDC Technology Team is to assist Michigan technology entrepreneurs move into an innovation based economy. The Technology Team was created as a collaboration between the Michigan Small Business and Technology Development Center (MI-SBTDC) and the Michigan Economic Development Corporation (MEDC). The Team, comprised of 10 technology consultants, provides no cost specialized counseling in the following areas: legal assistance; management team development; financing alternatives; marketing strategies; networking and resource identification.
For more information, click on GVSU.Edu/MISBTDC
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