Fund Provides $275,000 To 5 Detroit-Area Startup Companies
DETROIT (WWJ/AP) - Macomb Community College's first-ever round of Innovation Fund awards were handed out Tuesday to five emerging hi-tech companies that show promise in becoming job-makers for metro Detroit.
The public/private partnership between MCC and JPMorgan Chase program has given $275,000 to a handful of Detroit-area startups as part of an effort to help stimulate economic development and job growth.
MCC President Jim Jacobs the program allows the college to go beyond training workers and actually create jobs.
"This is really a very important fund which will play a role in collaboration with other economic activities in the Detroit region," Jacobs said.
Two Ann Arbor businesses received $100,000 each from the Innovation Fund. MyFab5 streamlines social media marketing for restaurants. TurtleCell produces a smartphone case with retractable headphones.
AQUASIGHT of Rochester Hills, GAP Quality Systems of Southfield and KTISIS of Sterling Heights each received $25,000.
AQUASIGHT improves water pumping systems. GAP Quality Systems is an automated auto parts inspection system. KTISIS is a composite container system that enables fleet vehicles to use compressed natural gas or liquefied gas.
The effort is part of JPMorgan Chase's $100 million commitment to Detroit's economic recovery.
The companies are required to provide internships for Macomb Community College students.
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