Accelerator Impact: A Look at the NumbersBy Lauren Ebelt on June 16th, 2014 /
Let’s look at it by the numbers: 7,225 jobs, 225 companies, and $300 million dollars.
It is a major boost to Michigan’s economy, and it is all coming from four lower Michigan partners who have banded together to form the Business Accelerator Network for Southeast Michigan (BANSEM).
Ann Arbor SPARK, Automation Alley, Macomb-OU INCubator and TechTown formed the group in 2010. View of our full list of Michigan business incubators, accelerators and workspaces in Michigan.
They are called “accelerators.” They offer different but equally important opportunities for those in Michigan. Some of these opportunities include assisting start-ups with growing their structures, finding funding, and capitalizing on commercialization potential. Additionally, each company has incubation space on site with either offices or wet-lab space.
Their uniqueness and similarities give entrepreneurs the perfect equation: as each accelerator assists in their own way — such as Ann Arbor SPARK through encouraging and supporting businesses at every stage or Macomb-OU INCubator’s support and work with high-tech companies — the entrepreneurs move from one accelerator to the next as their business matures.
And that’s exactly what makes them so successful, according to Leslie Smith, president and CEO of TechTown Detroit and chair of BANSEM. TechTown Detroit is a business incubator based in Detroit.
“BANSEM accelerators continue to act as a catalyst for economic growth in our region,” Smith said in a recent press release from BANSEM. “Beyond education and encouragement, the impact data … speaks to a clear-eyed commitment to execute — not in silos, but as a thoughtfully integrated support system.”
It appears to be working.
In late May 2014, BANSEM announced that their efforts on the innovation economy in Southeast Michigan had created thousands of new technology jobs and companies, accumulating in more than $300 million in follow-on investments.
While all of the BANSEM companies are happy at their success, Ken Rogers, executive producer of Automation Alley, a business association and business accelerator, perhaps says it best.
“This is one of the great success stories coming out of the renaissance that’s taking place in Southeast Michigan today,” he said. “The four BANSEM accelerators have been able to accomplish something that the region has struggled with for a number of years: successful collaboration across regional boundaries. These results speak volumes about the value of working to ether to move the region forward economically.”
To learn more about BANSEM, click here.
Photo via Ann Arbor Spark.