LDFA Board Meeting October 14, 2014 8:15 am to 10:15 am City of Ann Arbor 301 e. Huron Street, Ann Arbor, MI 48104 an individual may speak for up to three (3) minutes on any item listed on the agenda. Public comment on non-agenda items may be limited in the Chair's discretion.
LDFA Board Meeting October 14, 2014 8:15 am to 10:15 am City of Ann Arbor 301 e. Huron Street, Ann Arbor, MI 48104 an individual may speak for up to three (3) minutes on any item listed on the agenda. Public comment on non-agenda items may be limited in the Chair's discretion.
LDFA Board Meeting October 14, 2014 8:15 am to 10:15 am City of Ann Arbor 301 e. Huron Street, Ann Arbor, MI 48104 an individual may speak for up to three (3) minutes on any item listed on the agenda. Public comment on non-agenda items may be limited in the Chair's discretion.
8:15 am to 10:15 am City of Ann Arbor 301 E. Huron Street, Ann Arbor, MI 48104 A A g g e e n n d d a a
I. Call to Order
II. Public Comment Public comment shall be allowed at all meetings. An individual may speak for up to three (3) minutes on any item listed on the Agenda. The Chair may extend an individuals speaking time in his/her discretion. Public comment on non-agenda items may be limited in the Chairs discretion. III. Approval of the Agenda
IV. Approval of the Minutes a. September 16, 2014 Regular Board Meeting
V. LDFA Chairs Report
VI. LDFA Treasurers Report a. LDFA Financial Report 1 st quarter FY2015
VII. Reports from Service Providers a. SPARK Report 1 st quarter FY2015
VIII. Other Business a. LDFA TIF extension update
IX. Motion to Adjourn
1
Ann Arbor-Ypsilanti Smart Zone Local Development Finance Authority MINUTES for September 16, 2014 REGULAR BOARD MEETING
Ann Arbor City Hall Council Chambers 301 E. Huron Street, Ann Arbor, MI 48104
Members Present: Carrie Leahy, Eric J acobson, Stephen Rapundalo, Sally Petersen, Caryn Charter, Tom Crawford Ex-officio, Skip Simms-Accelerator Ex-officio
Members Excused: Richard Beedon, Vince Chmielewski, Bilal Saeed, Ned Staebler, Paula Sorrell-MEDC Ex-officio
Others Present: Representatives of SPARK
I. CALL TO ORDER: Chair Leahy called the meeting to order at 8:29 am. A quorum was present.
II. PUBLIC COMMENT: There was no public comment.
III. APPROVAL OF THE AGENDA: Rapundalo moved, seconded by J acobson, to approve the agenda for this meeting in the form presented at this meeting. Motion approved unanimously.
IV. MOTIONS & RESOLUTIONS: Minutes of the June 17, 2014 Regular Board Meeting, Jul y15, 2014 Regular Board Meeting, and August 21, 2014 Special Board Meeting: Rapundalo moved, seconded by Charter, to approve the minutes of the meetings in the form presented at this meeting. Motion approved unanimously.
V. LDFA CHAIRS REPORT: Discussed with board the recent actions by Ann Arbor and Ypsilanti City Councils to approve a satellite Smartzone agreement; thereby meeting a qualification for a 15 year extension of the Ann Arbor/Ypsilanti SmartZone LDFA. The Board also discussed the comments provided to Chair & Treasurer at the September 8, 2014 Council Working Session for the City of Ann Arbor.
VI. LDFA TREASURERS REPORT: Treasurer J acobson reviewed the 4 th Quarter FY2014 LDFA Financial Report.
VII. REPORTS FROM SERVICE PROVIDERS: 2 Ex-Officio Simms reviewed the SPARK 4 th quarter 2014 report and the Annual Report for FY2014.
VIII. OTHER BUSINESS: a. Election of officers for FY2014 - J acobson nominated Carrie Leahy as Chair, seconded by Charter. Motion approved unanimously. Leahy nominated Charter as Vice-chair, seconded by Rapundalo. Motion approved unanimously. J acobson nominated Rapundalo as Treasurer, seconded by Charter. Motion approved unanimously. b. Committee Appointments The committee positions are as follows: Audit Rapundalo (chair), J acobson, Chemielewski, Crawford Budget/Contract Rapundalo (chair), Leahy, Petersen, J acobson, Simms Metric - Beedon (chair), Staebler, Saeed, Crawford, Simms, Sorrell Strategic Planning Staebler (chair), Saeed, Chmielewski, Crawford, Simms, Beedon
IX. ADJOURNMENT: Meeting was adjourned at 10:00 am.
Respectfully Submitted, Tom Crawford, Secretary 3 Smartzone Financial Report 09.30.14 Smart Zone LDFA FY 2015 FINANCIAL SUMMARY September 30, 2014 BUDGET Forecast ACTUAL Estimate Estimate Estimate vs Budget Q1 Q2 Q3 Q4 Full Year Amount Good/(Bad) INCOME STATEMENT Revenues: Tax Revenue 1,352,180 $ 102,910 $ 514,548 $ 138,798 $ 2,108,436 $ 2,058,192 $ 50,244 $ Miscellaneous - - - - - - - $ Investment Income 3,229 4,726 3,637 3,657 15,249 12,940 2,309 $ Total Revenues 1,355,409 $ 107,635 $ 518,185 $ 142,456 $ 2,123,685 $ 2,071,132 $ 52,553 $ Expenditures: Contracted Services SPARK BA Direct Staffing 105,000 $ 105,000 $ 105,000 $ 105,000 $ 420,000 $ 420,000 $ - $ Phase II (Due Diligence) 4,200 6,933 6,933 6,933 25,000 25,000 - $ Phase III (Intensive Service) 125,850 141,383 141,383 141,383 550,000 550,000 - $ Phase IV (Accelerating Opportunities) 26,775 16,075 16,075 16,075 75,000 75,000 - $ Business Networking Events 11,430 9,523 9,523 9,523 40,000 40,000 - $ Entrepreneurial Education 2,907 19,864 19,864 19,864 62,500 62,500 - $ Entrepreneurs Bootcamp 12,500 12,500 12,500 12,500 50,000 50,000 - $ Internship Support & Talent Training 36,650 54,450 54,450 54,450 200,000 200,000 - $ Business Software for Clients 5,247 4,918 4,918 4,918 20,000 20,000 - $ Total Contracted Services 330,558 370,647 370,647 370,647 1,442,500 1,442,500 $ - $ SPARK Indirect Services SPARK Central Business Incubator 47,557 50,814 50,814 50,814 200,000 200,000 $ - $ SPARK Central Incubator Expansion - 15,000 15,000 - 30,000 30,000 $ - $ SPARK Accounting 17,125 17,125 17,125 17,125 68,500 68,500 0 $ SPARK Marketing 17,866 44,045 44,045 44,045 150,000 150,000 - $ 82,548 126,984 126,984 111,984 448,500 448,500 $ 0 $ City of Ann Arbor Services Legal & Admin. Support 12,774 32,774 12,774 23,406 81,728 89,271 7,543 $ Total Expenditures 425,881 $ 530,405 $ 510,405 $ 506,037 $ 1,972,728 $ 1,980,271 $ 7,543 $ Net Increase/Decrease 929,528 $ (422,770) $ 7,780 $ (363,582) $ 150,957 $ 90,861 $ 60,096 $ Memo: Fund Balance (6/30/2014) 905,766 $ Fund Balance - Operations (Qtr End) 1,835,294 $ 1,412,524 $ 1,420,305 $ 1,056,723 $ 1,056,723 $ 996,627 $ Microloan: available to be loaned 237,245 $ 248,285 $ 237,374 $ 164,849 $ 4 Smartzone Financial Report 09.30.14 Fiscal Year Incurred Billed Measureable Category Mo. Qtr Year Qtr Unit Descrip. Number Amount SPARK BA Direct Staffing J uly 1 2014 1 Direct Staff 35,000.00 $ Phase II (Due Diligence) J uly 1 2014 1 Hours 32.00 3,200.00 $ Phase III (Intensive Service) J uly 1 2014 1 Hours 296.15 29,727.50 $ Phase IV (Accelerating Opportuniti J uly 1 2014 1 Hours 250.00 25,000.00 $ SPARK Central Business IncubatoJ uly 1 2014 1 Facility Exp 12,786.44 $ SPARK Accounting J uly 1 2014 1 Accting Svc 5,708.33 $ SPARK Marketing J uly 1 2014 1 Marketing 3,138.76 $ Entrepreneurial Education J uly 1 2014 1 Events 448.00 $ Business Networking Events J uly 1 2014 1 Events 4,085.61 $ Internship Support & Talent TraininJ uly 1 2014 1 14,016.23 $ Legal & Admin. Support J uly 1 2014 1 Legal - TIF extension 1,770.00 $ SPARK BA Direct Staffing Aug 1 2014 1 Direct Staff 35,000.00 $ Phase II (Due Diligence) Aug 1 2014 1 Hours 32.00 1,000.00 $ Phase III (Intensive Service) Aug 1 2014 1 Hours 296.15 82,038.58 $ Phase IV (Accelerating Opportuniti Aug 1 2014 1 Hours 250.00 675.00 $ SPARK Central Business IncubatoAug 1 2014 1 Facility Exp 18,080.50 $ SPARK Accounting Aug 1 2014 1 Accting Svc 5,708.33 $ SPARK Marketing Aug 1 2014 1 Marketing 4,845.79 $ Entrepreneurial Education Aug 1 2014 1 Events 349.00 $ Business Networking Events Aug 1 2014 1 Events 3,668.98 $ Internship Support & Talent TraininAug 1 2014 1 13,697.38 $ Business Software for Clients Aug 1 2014 1 1,497.00 $ Legal & Admin. Support Aug 1 2014 1 Legal - TIF extension 2,925.00 $ SPARK BA Direct Staffing Sept 1 2014 2 Direct Staff 35,000.00 $ Phase III (Intensive Service) Sept 1 2014 2 Hours 132.65 14,083.75 $ Phase IV (Accelerating Opportuniti Sept 1 2014 2 Hours 11.00 1,100.00 $ SPARK Central Business IncubatoSept 1 2014 2 Facility Exp 16,690.35 $ SPARK Accounting Sept 1 2014 2 Accting Svc 5,708.33 $ SPARK Marketing Sept 1 2014 2 Marketing 9,881.65 $ Entrepreneurial Education Sept 1 2014 2 Events 2,110.00 $ Business Networking Events Sept 1 2014 2 Events 3,675.04 $ Internship Support & Talent TraininSept 1 2014 2 8,936.01 $ Entrepreneurs Bootcamp Sept 1 2014 2 12,500.00 $ Business Software for Clients Sept 1 2014 2 3,750.00 $ Legal & Admin. Support Sept 1 2014 1 Legal: Adrian-Techumseh ag 3.75 1,125.00 $ 5 Funds Raised $4.574 M investments & grants Jobs 16 250 jobs created current FTEs
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Ann Arbor SPARK works to advance the economy of the Ann Arbor region by establishing the area as a desired place for business expansion and location... by identifying and meeting the needs of business at every stage, from those that are established to those working to successfully commercialize innovations. For more information visit: www.annarborusa.org First Quarter 2014-2015 69 Companies Served 3 Companies Created $189K Support for companies 621 Event Attendees 6 !"" !$%&$ '(!)* +,- ./,01./,2 345! )67&$8 (9:6 ,
!"" !$%&$;!"#$%&'($ *+&,( -.'/ !"#$% '()(%"*+(,- ./,$,#( 01-2"3/-4 !"" !$%&$ '(!)* +,-$./$01 )/2&$. ! 3,01 45 6748 9 '/2./:%/$ ;75 6748 "#$%&'()* "+)&,)- 1he followlng companles were creaLed as a resulL of our lnvolvemenL per Lhe deflnlLlon llsLed ln Lhe glossary. Un|q ID Company Descr|pt|on 7219 nano-sensor Lechnology applled Lo Lhe hog farm verLlcal. 7216 Web based elecLronlc servlce LhaL asslsLs denLal offlces Lo send and recelve flles ln a secure & PlAA compllanL manner. 7223 Cnllne servlce hlghllghLlng currenL lnvesLmenL opporLunlLles looklng for fundlng. .##, "&$% Ann Arbor SA8k held Lhe klckoff of lLs 23 Lh LnLrepreneur 8ooL Camp SepLember 16 Lh . 1he acLual evenL wlll Lake place CcLober 8 Lh and 9 Lh aL 1he kenslngLon CourL ln Ann Arbor. 8ooL Camp lnLegraLes Lhe Lean SLarLup MeLhodology lnLo lLs currlculum Lo help our early sLage companles assess and valldaLe Lhe feaslblllLy of Lhelr buslness concepL, bulld Lhelr buslness model, and flnd beLa cusLomers. Companles are gulded by a drlll lnsLrucLor" and are maLched wlLh menLors Lo asslsL wlLh Lhelr presslng sLarL-up needs and Lo share resources ln Lhelr lndusLrles. Un|q ID Company Descr|pt|on 72S3 AccounLlng sofLware. 677S# SLudenL loan markeLplace and clearlnghouse for besL deals. 72S1#* MenLal healLh and wellness moblle phone appllcaLlon. 7240 lnLegraLed SupermarkeL purchaslng and orderlng app. 3118# !olnL venLure Lo develop foams uslng non-peLroleum sources, parLlcularly ln llfe sclence lndusLry. 7223#^ Cnllne servlce hlghllghLlng currenL lnvesLmenL opporLunlLles looklng for fundlng. 7241# Legal e-bllllng and maLLer managemenL sysLem. 7224 Adheslve medlcal sLrlps Lo organlze and hold surglcal equlpmenL. 7208 App LhaL allows users Lo order food and drlnks wlLhln a buslness. 6670 SmarLphone lnLegraLed vldeo doorbell. 7238#* Comprehenslve map and donaLlon moblle app plaLform for museums. 72S2 SmarL helmeL deslgner. *unlverslLy of Mlchlgan 1echnology #8ecelved LulA fundlng ^Company CreaLed 7 !"" !$%&$ '(!)* +,- ./,01./,2 345! )67&$8 (9:6 .
Seven hase l companles were referred ouL due Lo Lhelr locaLlon or noL meeLlng buslness Lype crlLerla, Lhree were locaLed ouLslde Lhe Ann Arbor ClLy llmlLs.
Un|q ID Company Descr|pt|on I1L 8|||ed Support 6S89 luA-approved llghL Lherapy devlce Lo LreaL paln. 2 $200.00 6867 WorksLaLlon wlLh wasLe grlnder and proprleLary hlgh-pressure wasLe mlcronlzer, reduclng Lhe parLlcle slze of food wasLe maklng lL hlghly dlgesLlble Lo bacLerla. 1 $1,000.00 7202 SporLs fandom compeLlLlon, Lracklng and soclal medla lnLegraLlon smarL phone app. 3 $1,000.00 71S4 SofLware Lo manage Lhe capLure and remoLe analysls of reLlnal lmages Lo dlagnose eye dlseases. 2 $1,000.00 411S redlcLlve LransporLaLlon algorlLhm company developlng SaaS producLs and lnLegrable web servlces for LransporLaLlon and loglsLlcs lndusLrles. 3.3 $1,000.00 Grand 1ota|s (S records) 11.S 54,200.00
Company Descr|pt|on ro[ect Descr|pt|on I1L 8|||ed Support Un|q ID: 4132
4 $2,730.00 A medlcal devlce for Lhe fleld of hlsLology LhaL auLomaLes a process used ln Llssue dlagnosLlcs. llle Lwo uS aLenLs and Lwo responses Lo offlce acLlons. $2,730.00 Un|q ID: 4791
8 $32,730.00 ConsolldaLed evenL plannlng and managemenL sofLware plaLform. llnanclal Modellng for 8L analysls & revenue share LargeLs. negoLlaLe Lerms of sLraLeglc parLnershlp.
$6,000.00 8e-deslgn and developmenL of user experlence and user lnLerface, new logo and rebrand.
Company Descr|pt|on ro[ect Descr|pt|on I1L 8|||ed Support A new markeLlng-based, plaLform- agnosLlc, real-Llme medla alerL soluLlon. uevelop soclal fllLerlng concepL, buslness model, producL poslLlonlng, supporL creaLlon of pre seed fund appllcaLlon, roadmap and developmenL plannlng.
$3,030.00
$930.00 Un|q ID: 63S8*
3 $3,493.00 ueveloper of a smarL phone case LhaL reLracLs and sLores a user's headphones/ear buds wlLhln a sllm proflle case. ueslgn SpeclflcaLlons and Lolerance consulLlng for manufacLurlng preparaLlon. $3,493.00 Un|q ID: 6S18*
2 $187.30 CreaLor of an eye drop asslsL devlce. CorporaLe enLlLy creaLlon, negoLlaLlon and reasslgnmenL of l from uM, creaLe nuAs. $187.30 Un|q ID: 6621
2 $823.00 A plaLform for Lool owners Lo lease Lhelr Lools Lo nearby renLers ln Lhelr area. Secure munlclpal beLa-LesLers, develop plpellne and advlsor neLwork, search for sLaLe and federal fundlng.
$823.00 Un|q ID: 677S
2 $330.00 SLudenL loan markeLplace and clearlnghouse for besL deals. 8esearch vlablllLy of plaLform, ldenLlfy beLa LesLers, and asslsL wlLh plLch Lo LargeLs. $330.00 Un|q ID: 6778
2 $22,918.73 Supply Chaln ueclslon Maklng plaLform LhaL can vlsuallze and compare supply chaln ldeas ln real- Llme. ueslgn and lmplemenLaLlon of user access, model and scenarlo navlgaLlon, daLa lnLeracLlon meLhods for reference daLa seLs, lnLeracLlons wlLh excel, qulck acLlons wlLhln webpage.
$20,000.00 MarkeLlng and promoLlonal vldeo producLlon.
$1,918.73 Craphlc deslgn for webslLe and presenLaLlon maLerlals. $1,000.00 Un|q ID: 6834*
1 $10,100.00 ueveloper and manufacLurer of hlgh- resoluLlon sensors used for near real- Llme dlagnosLlcs ln lood paLhogen LesLlng. lundralslng, developmenL plan, plLch deck.
Company Descr|pt|on ro[ect Descr|pt|on I1L 8|||ed Support lnLerneL-based program Lo manage sLress. AssessmenL of key opporLunlLles based on exLernal audlL and compeLlLlve assessmenL.
$2,000.00
$1,300.00 Un|q ID: 7032
2 $3,800.00 1echnology Lo lsolaLe cells from complex mlxLures. MarkeL research, segmenLaLlon analysls, proflle markeL dynamlcs.
$2,700.00
$1,100.00 ConsulLaLlon and asslsLance regardlng caplLallzaLlon Lable, operaLlng agreemenL, sLraLeglc parLnershlps, and nuAs.
$2,000.00 Un|q ID: 7117
1 $3,300.00 novel daLa processlng algorlLhms and curaLed geneLlc daLabase. SofLware as a servlce. CorporaLe formaLlon lncludlng resoluLlons, bylaws, sLockholder agreemenL, and caplLal sLrucLure. $3,300.00 Un|q ID: 7147
10 $4,690.00 LxLreme sporL and arena creaLor. Co-Lo-markeL asslsLance lnvolvlng deLermlnaLlon of markeL slze, segmenLaLlon, LargeL markeL, develop sLraLegy for dlsLrlbuLor neLwork.
ro[ect Descr|pt|on Company Descr|pt|on I1L 8|||ed Support Un|q ID: 2338 33 $23,000.00 Arch|tectura| Serv|ces re|at|ng to the company's new off|ce space as we|| as var|ous coord|nat|on and perm|tt|ng |ssues. SofLware developmenL and moblle appllcaLlon developmenL company, also ln embedded sysLems. 33 $23,000.00 Un|q ID: 7098 12 $1,773.00 Imp|ement Lntrepreneur|a| Cperat|ng System, redef|ne company story, strateg|c market|ng p|an, tact|ca| commun|cat|ons & market|ng mater|a|s, nk po||c|es and procedures to support ex|st|ng emp|oyees and growth. rovldes commerce and web- based soluLlons. Complex web developmenL and L8 lnLegraLlon. 12 $673.00 12 $1,100.00 Grand 1ota|s (3 records) 47 526,77S.00
A:1BC ")',+&3 ;'2=D&,#+ A,&8) E') F G+#='- H3##+ lncubaLor cllenLs are charged a llcense fee per seaL, or person(s) uslng Lhe space. 1oLal number of seaLed cllenLs (Lhose ln a cublcle wlLh secure space and full prlvlleges) ln Lhe Lower Level of SA8k CenLral lnclude flve companles wlLh nlne seaLs occupled, 64 of capaclLy (14 seaLs) aL Lhe hlghesL peak durlng Lhls quarLer. uurlng Lhls quarLer, one company graduaLed from Lhe lncubaLor by movlng lnLo markeL raLe offlce space ln Ann Arbor. CurrenLly, SA8k ls pursulng aggresslve sLraLegles Lo resLore Lhe lncubaLor Lo full occupancy.
Un|q ID Company Descr|pt|on Start Date Lx|t Date Incubator Seats I1L 428* AlLernaLe energy from Lldal currenLs. 1/1/14 12/31/14 1 3 4243 WebslLe for bulldlng consLrucLlon pro[ecL, repalr and supply blds. 7/18/11 9/30/14 1 1 S091 lleld survey and daLa collecLlon sofLware. 9/9/13 9/13/14 4 11 6816 Cloud based SaaS LhaL provldes hourly operaLlonal lnsLrucLlons Lo energy sysLem operaLors. 10/4/13 9/30/14 2 7 7070 Web and moblle plaLform LhaL allows lndlvlduals Lo flnd Lhelr lmpacL on publlc healLh ouLcomes from fossll fuel polluLlon. 3/16/14 3/31/13 1 1
Grand 1ota|s (S records) 9 2S *uenoLes unlverslLy of Mlchlgan Lechnology or uM SLudenL 1eam
A,&8) 57# F 54(+- H3##+ 1here were Lhree companles LhaL occupled Lhe shared space of Lhe SLage 1wo lncubaLor durlng CuarLer one, accounLlng for 16 seaLs.
Un|q ID Company Descr|pt|on Start Date Lx|t Date Incubator Seats I1L 4472* An onllne plaLform LhaL empowers college sLudenLs Lo showcase Lhelr work and skllls Lo sLarLups. 10/17/13 12/31/14 8 16 4S47 Advanced nanofabrlcaLlon meLhods and a novel Lhree dlmenslonal (3u) approach Lo sensor assembly. 2/1/14 1/31/13 4 7 4791 ConsolldaLed evenL plannlng and managemenL sofLware plaLform. 9/26/13 9/30/14 4 8
Grand 1ota|s (3 records) 16 32 *uenoLes unlverslLy of Mlchlgan Lechnology or uM SLudenL 1eam
Un|q ID Company Descr|pt|on Start Date Lx|t Date I1L 271 8lsk ManagemenL- l1 securlLy company. 7/1/10 12/31/14 3 338 lnformaLlon and news aggregaLor and fllLer. 7/1/10 12/31/14 1 386 vlslon 1echnology w/ SporLs appllcaLlons. 8/1/13 2/1/13 6 1282* ueveloper of Lechnologles LhaL enable lnLegraLed and sLandardlzed assessmenLs of blood damage, parLlcularly for red blood cells. 7/1/10 12/31/14 4 2SS0 aLenL advlser. 7/1/10 12/31/14 1 2821 A flrmware appllcaLlon for collecLlng/analyzlng mulLlple paLlenL parameLers ln an lCu ln real Llme. 9/1/10 1/31/13 2 28S4 Mlchlgan sLaLe lncubaLor assoclaLlon. 6/7/11 1/6/13 0.3 3060* Mlnlmally lnvaslve Surglcal (MlS) Lools LhaL provlde Lhe surgeon wlLh greaLer conLrol and lnLulLlon. 7/1/14 12/31/14 3 3221 rovlder of advanced sofLware soluLlons for sewer modellng Lo munlclpallLles and englneerlng consulLanLs. 3/1/12 12/31/14 4 3637 1herapeuLlc for LreaLmenL of reLlnal dlseases. 8/1/13 1/31/13 2 4227 Lnglneerlng servlces, lncludlng advanced lLA, CAu, and hlgh-end deslgn soluLlons. 3/13/11 1/12/13 2.3 4431* AsslsLlve Lechnology Lo allow people wlLh flne moLor dlsablllLles Lo lnLeracL wlLh Lhe moblle and Louch screen. 8/1/12 8/31/14 1 4S66 rovldes moblle appllcaLlons for large Lravel desLlnaLlons. 3/10/12 10/31/14 1 496S PosL for Lechnology companles LhaL focus on lmprovlng Lhe quallLy of llfe. 7/1/14 8/31/14 4 SSS7 ulglLal MarkeLlng lnLelllgence. 7/1/12 12/31/14 3 624S MagneLlc moLor LhaL ls more efflclenL Lhan currenL Lechnologles. 3/1/13 12/31/14 2 6260 hoLonlcs lndusLry assoclaLlon. 10/19/13 2/18/13 3 63S6 A new markeLlng-based, plaLform-agnosLlc, real-Llme medla alerL soluLlon. 2/1/13 4/30/13 1 63S7 Clves muslclans Lhe opporLunlLy Lo compeLe agalnsL one anoLher and book glgs, whlle lncreaslng Lhelr fan base. 9/3/13 3/31/13 3 63S8* ueveloper of a smarL phone case LhaL reLracLs and sLores a user's headphones/ear buds wlLhln a sllm proflle case. 3/1/14 9/30/14 3 6S4S SofLware plaLform applles predlcLlve analyLlcs Lo sLraLeglc declslons regardlng lnLellecLual properLy managemenL. 2/1/14 1/31/13 2 6S89 luA-approved llghL Lherapy devlce Lo LreaL paln. 8/21/13 9/30/14 2 6600 Medlcal devlce for vlslon enhancemenL ln persons wlLh parLlal loss of slghL. 6/1/13 2/28/13 2 6778 Cn-llne seeker-solver neLwork LhaL allows SLarL-up 1eams (Seekers) Lo access crowd-sourced roducL-MarkeL llL SoluLlons. 6/10/14 12/10/14 3 6899 A ConLenL ManagemenL (CM) soluLlon LhaL allows edlLlng and publlshlng conLenL. 2/1/14 7/31/14 1 6941 Super-oxygenaLlon sysLem for wasLewaLer. lL acceleraLes Lhe growLh of Lhe bacLerla LhaL consumes organlc wasLe. 2/1/14 12/31/14 2.3 12 !"" !$%&$ '(!)* +,- ./,01./,2 345! )67&$8 (9:6 >
Un|q ID Company Descr|pt|on Start Date Lx|t Date I1L 7046 LlecLronlcs based meLerlng and power llne communlcaLlon. 4/1/14 9/30/14 1 71S3 8raln lmaglng Servlce Lo asslsL ln Lhe developmenL of medlcaLlons or medlcal devlces for Lhe cenLral nervous sysLem. 7/1/14 6/30/13 1 Grand 1ota|s (28 records) 64.S
*uenoLes unlverslLy of Mlchlgan Lechnology or uM SLudenL 1eam
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Lvent Name Date |ace of Lvent Approx. # of attendees urpose of Lvent L|ve- Stream|ng V|ews Arch|ved V|ews Lntrepreneurs 1ota| Careers Cver Coffee 6/26/2014, 4/29/2014 MlghLy Cood Coffee 1 41 uescrlpLlon: Careers Cver Coffee ls an evenL for LalenL seeklng opporLunlLles for Lhemselves. nA nA Ann Arbor CpenCoffee 9/9/2014, 7/8/2014, 8/12/2014 SA8k - CenLral 39 96 uescrlpLlon: 1hls ls a neLworklng evenL for enLrepreneurs, lnvesLors and Lhose who work wlLh lnnovaLlve buslnesses. Come mlngle wlLh fellow communlLy members whlle en[oylng a bagel and coffee. WheLher you are looklng Lo meeL poLenLlal employers, employees, new buslness parLners, or [usL slmply wanL Lo expand your neLworks, Lhls evenL fosLers connecLlons on all levels. CpenCoffee ls held monLhly on Lhe second 1uesday aL SA8k CenLral. nA nA M|ch|gan Market|ng M|nds 9/9/2014, 7/8/2014, 8/12/2014 SA8k - CenLral 39 83 Speakers: Chrls kochmanskl, ueslgnPub (ModeraLor), Shawn Crowley, ALomlc Cb[ecL and vl kellersohn, 1C. /uescrlpLlon: 1hls ls a monLhly panel dlscusslon and neLworklng evenL Lo faclllLaLe collaboraLlon and neLworklng among pracLlLloners, pollcy makers, lnvesLors and professlonals. 3 9 M|ch|gan Lnergy Iorum |ann|ng Meet|ng 08/13/14 SA8k - CenLral 6 13 Speakers (none)/uescrlpLlon: Annual 8oard and lannlng MeeLlng of Lhe Mlchlgan Lnergy lorum whose mlsslon ls Lo faclllLaLe collaboraLlon and neLworklng among pracLlLloners, pollcy makers, lnvesLors and LalenL. nA nA 13 !"" !$%&$ '(!)* +,- ./,01./,2 345! )67&$8 (9:6 ?
Lvent Name Date |ace of Lvent Approx. # of attendees urpose of Lvent L|ve- Stream|ng V|ews Arch|ved V|ews Lntrepreneurs 1ota| M|ch|gan Lnergy Iorum 09/11/14 SA8k - CenLral 21 78 Speakers: nlcholas Cuclnelll, 1ech 1ransfer 1alenL neLwork (ModeraLor), !areLL ulamond, Creen 8rewery ro[ecL, 8ene Creff, Arbor 8rewlng Company + Corner 8rewery, Shawn and Aaron Crose, Wlndmlll olnLe 8rewlng Company, 1odd Passelbeck, urposeLnergy, lnc. and krls Spauldlng, 8rewery vlvanL. /uescrlpLlon: 1hls ls a monLhly panel dlscusslon and neLworklng evenL Lo faclllLaLe collaboraLlon and neLworklng among pracLlLloners, pollcy makers, lnvesLors and professlonals. 2 0 8us|ness Law & Crder 07/21/14 SA8k - CenLral 10 20 Speakers: Speakers: 8uss 8rown, 8u 8rown LC, Mark Malven, uykema CosseLL LLC, !eremy u. 8lsdorf, !affee, 8alLL Peuer & Welss, .C., !oseph 8. Morrlson, !r., Ponlgman Mlller SchwarLz and Cohn LL, Andrew 8ossory, Lorandos !oshl, Lrane WashlngLon, Lrane C. WashlngLon- kendrlck, LLC and Carrle Leahy, 8odman LL /uescrlpLlon: 8uslness Law & Crder Serles wlll glve enLrepreneurs lnslghL lnLo some of Lhe mosL lmporLanL legal lssues Lhey musL conslder durlng buslness formaLlon. nA nA 8|oArbor 09/18/14 nC8C - 8ulldlng 10 40 79 Speaker: Carol Callagher, harmu lormer CLC of CallsLoga harmaceuLlcals. /uescrlpLlon: 8loArbor hosLs educaLlonal neLworklng evenLs for Lhe llfe sclences lndusLry ln Lhe CreaLer Ann Arbor Area. Lach meeLlng feaLures a neLworklng sesslon and an lnvlLed speaker(s) followed by a C&A sesslon. nA 0 8A Consu|tants Meet|ng 9/19/2014, 8/13/2014 SA8k - CenLral 17 31 uescrlpLlon: MonLhly 8uslness AcceleraLor ConsulLanLs meeLlng Lo updaLe consulLanLs on SA8k and revlew pro[ecLs. nA nA I1 Leader's Counc|| 08/18/14 8arracuda neLworks 0 48 uescrlpLlon: A selecL lnvlLaLlon llsL of l1 leaders around Lhe Ann Arbor area lncludlng SA8k LenanLs and 8uslness uevelopmenL companles gaLhered Lo work LogeLher Lo ensure Lhe reglon conLlnues Lo generaLe Lhe LalenL Lo help Lhe companles grow. nA nA M|ng||ng w|th the Masters 08/26/14 SA8k - CenLral 13 49 uescrlpLlon: 1hls evenlng ls a unlque opporLunlLy for Lhe area's buslness and local communlLy leaders Lo mlngle nA nA 14 !"" !$%&$ '(!)* +,- ./,01./,2 345! )67&$8 (9:6 @
Lvent Name Date |ace of Lvent Approx. # of attendees urpose of Lvent L|ve- Stream|ng V|ews Arch|ved V|ews Lntrepreneurs 1ota| wlLh Lhe unlverslLy's nexL generaLlons of enLrepreneurs. Crn|cept Incubator 1enant Graduat|on 09/19/14 SA8k - CenLral 16 22 uescrlpLlon: CrnlcepL moved Lo lLs new offlce aL 33 8esearch urlve, SulLe 400, Ann Arbor, Ml 48103 as of Monday, SepLember 13, 2014. SA8k held a CraduaLlon lzza arLy aL 11:30am. nA nA M|ng|e 'n' Match 09/17/14 SA8k - CenLral 26 61 uescrlpLlon: Mlngle wlLh oLher enLrepreneurlal-mlnded sLudenLs and communlLy members and flnd Leam members. 1he evenL beglns wlLh lnformal mlngllng, followed by a serles of one-mlnuLe plLches by Lhose lnLeresLed ln flndlng Leam members. nA nA 1ota|s 2S0 621 S 9 L(2+#3#&'* AccuraLe as of 9/30/14
Number of Loans to Date 1ota| Va|ue of Loans rov|ded to Date # Cf Loans Wr|tten Cff |n Iu|| # Cf Loans art|a||y Wr|tten Cff Va|ue of Loans Wr|tten Cff - Inc|ud|ng Interest Loans a|d 8ack |n Iu|| art|a| ayments of Loans Loan Amount kepa|d to Date - Inc|ud|ng Interest 33 $1,118,460 4 2 $130,429 6 3 $342,413
L(2+#3#&' J#,)*?
1oLal loans due ls $883,633, lncludlng lnLeresL accrued Lhrough 12/31/2013. AmounL avallable Lo lend ls $198,308. 1oLal currenL l1L for mlcroloan companles: 133. !obs reLalned durlng Lhe Lerm of Lhe loans: 74, [obs creaLed: 36. uurlng Lhls conLracL quarLer, Lhere were 2 appllcanLs, 0 were approved for a loan. 15 !"" !$%&$ '(!)* +,- ./,01./,2 345! )67&$8 (9:6 ,/
;',)+'*4(% M K',+)%+)')=+N;'NB)*(-)'2) :+#8+&$* K',+)%+)')=+N;'NB)*(-)'2) :+#8+&$ lour companles are currenLly engaged ln Lhe enLrepreneur-ln-resldence program. 1hls program ls deslgned Lo aLLracL and reLaln C-level lndlvlduals Lo add subsLanLlal value Lo our companles, as well as provlde Lo an lnLroducLlon mechanlsm Lo help Lhem achleve slgnlflcanL mllesLones.
Un|q ID Company Descr|pt|on 8|||ed Support I1L 428* AlLernaLe energy from Lldal currenLs. $6,100.00 3 6621 A plaLform for Lool owners Lo lease Lhelr Lools Lo nearby renLers ln Lhelr area. $3,412.30 2 6897 SofLware for Lransformlng a group of manuscrlpL flles $7,173.00 1 6834* ueveloper and manufacLurer of hlgh resoluLlon sensors used for near real-Llme dlagnosLlcs ln lood paLhogen LesLlng $3,800.00 1 Grand 1ota|s (4 records) 522,487.S0 9
*uenoLes unlverslLy of Mlchlgan Lechnology
;',)+' :+#8+&$ 1he Ann Arbor SA8k lnLernshlp program provldes up Lo $3000 of maLchlng funds Lo a quallfled, growlng company Lo asslsL wlLh Lhe shorL-Lerm cosLs of brlnglng on addlLlonal sLaff. 1hls provldes a de-rlsked way Lo Lry ouL a poLenLlal permanenL addlLlon Lo Lhe Leam- an opporLunlLy LhaL ls lnvaluable durlng Lhe plvoLal perlod of lnlLlal hlres. CfLen Lhe LalenL ls reLalned aL Lhe company afLer Lhe culmlnaLlon of Lhe program. 8llled supporL lncludes dlrecL salary supporL, buL noL lncludlng addlLlonal employmenL expenses. Un|q ID Company Descr|pt|on Match|ng Amount 8|||ed Support Current I1L Iobs 4791 ConsolldaLed evenL plannlng and managemenL sofLware plaLform. $3,000 $3,000 8 3476* Plgh quallLy, solld-sLaLe llghLlng comblnlng organlc and lnorganlc maLerlals LhaL mlmlcs sunllghL, lower cosL Lhan oLher LLus. $3,000 $2,098 3 6867 WorksLaLlon wlLh wasLe grlnder and proprleLary hlgh-pressure wasLe mlcronlzer, reduclng Lhe parLlcle slze of food wasLe maklng lL hlghly dlgesLlble Lo bacLerla. $3,000 $2,300 1 4S19 laLform glvlng lndependenL app publlshers Lechnology for servlng cusLomlzed naLlve ads and a dlglLal markeLplace LhaL connecLs Lhelr apps wlLh adverLlsers. $3,000 $1,336 6 6621 A plaLform for Lool owners Lo lease Lhelr Lools Lo nearby renLers ln Lhelr area. $3,000 $433 2 63S8* ueveloper of a smarL phone case LhaL reLracLs and sLores a user's headphones/ear buds wlLhln a sllm proflle case. $1,300 $1,300 3 63S8* ueveloper of a smarL phone case LhaL reLracLs and sLores a user's headphones/ear buds wlLhln a sllm proflle case. $1,300 $1,300 3 Grand 1ota|s (7 records) 518,000 512,S89 2S
Metr|c uarter 1 ear|y Goa| ercent 1oward Goa| kat|ona|e News|etter Cpen kate 29 20 nA Lxceed lndusLry sLandard (18) by 2. Lntrepreneur|a| Serv|ces Webpage V|ews 37,626 33,211 71 lncrease age vlews Lo LS by 3,000 annually above 2013-2014 flscal year. Webpage V|s|ts by Ann Arbor kes|dents 16,463 64,072 26 lncrease vlslLs Lo Lhe webslLe from Ann Arbor overall by 3,000 annually over 2013-2014 flscal year. Soc|a| Med|a keferra|s 1,070 3,297 32 lncrease vlslLs from Ann Arbor Lo webslLe from soclal medla by 300 vlslLs above 2013-2014 flscal year. V|deo V|ews 637 4,306 13 lncrease vldeo plays from Mlchlgan by 300 annually above 2013-2014 flscal year. k |acements 2 nA nA lncreased menLlons of Ann Arbor sLarLups ln local, reglonal, and naLlonal news publlcaLlons. Nat|ona| k 1 6 17 MenLlon of ClLy of Ann Arbor sLarLups ln 6 naLlonal news publlcaLlons. 17 !"" !$%&$ '(!)* +,- ./,01./,2 345! )67&$8 (9:6 ,.
A#6,7&+) uurlng Lhls quarLer, Lhe sofLware llne ln our budgeL was used Lo subscrlbe Lo Lwo dlfferenL servlces as lLeraLed below. 1. Sa|esforce: $720- ?early paymenL. Cnllne C8M used Lo manage operaLlons, collecLlon and sLorage of daLa, and generaLlon of meLrlcs. 2. In4Grants: $3,730 - CuarLerly paymenL. CranL research, appllcaLlon, and coordlnaLlon plaLform avallable Lo all lncubaLor and acceleraLor cllenLs for free. G3#**&+P ln an efforL Lo reduce redundancy and unnecessary compllcaLlon, SA8k and Lhe LulA keep deflnlLlons of Lerms conslsLenL as beLween Lhe LulA and Mlchlgan Lconomlc uevelopmenL CorporaLlon. lncluded for clarlLy and reference are appllcable deflnlLlons provlded by Lhe Mlchlgan Lconomlc uevelopmenL CorporaLlon: "#$%&'()* A)+9)- 1he number of 1LCP companles LhaL conLracLor provlded lnLenslve servlces Lo, lncludlng acceleraLor granLs, lncubaLor space, menLorlng, consulLlng, Lralnlng, eLc. H=33N5($) K>=(9&3)', l1Ls may or may noL be pald and may be worklng for deferred compensaLlon ln cash or sLock. 1hey do noL lnclude lnLerns or lndependenL conLracLors. Q#D* "+)&,)- number of [obs creaLed by Lhe companles LhaL conLracLor served or are lncubaLor cllenLs, does noL lnclude conLracL poslLlons. Q#D* B),&(')- number of [obs reLalned by Lhe companles LhaL conLracLor served or are lncubaLor cllenLs, does noL lnclude conLracL poslLlons. 8aslcally lncludes Lhe number of poslLlons or employees aL Lhe companles LhaL have been reLalned because of Lhe fundlng from Lhe lncubaLor or because of Lhe servlces LhaL Lhe lncubaLor provlded. J)7 "#$%&'()* "+)&,)- number of new companles creaLed as a resulL of conLracLor's lnvolvemenL. Companles can be deflned as sole proprleLorshlp, LLC, Corp, eLc. lnvolvemenL can mean: 1) conLracLor provlded servlces or fundlng Lo Lhe company, 2) Lhe company ls locaLed ln conLracLor's lncubaLor, 3) Lhe company ls a unlverslLy spln-ouL, 4) conLracLor spoke wlLh Lhe newly formed company and provlded Lhem help wlLh Lhe nexL sLeps ln bulldlng hls/her company for example oLher resources, Lralnlng classes, eLc., or 3) conLracLor spoke wlLh Lhe CLC/C1C prlor Lo Lhe company formaLlon. 5)24 "#$%&'P A buslness ln whlch research and developmenL brlngs forLh an lnnovaLlve producL or process. 1he lnnovaLlon Lyplcally lnvolves lnLellecLual properLy LhaL conLrlbuLes Lo a sLrong compeLlLlve advanLage ln Lhe markeLplace, and serves as a foundaLlon for a hlgh raLe of growLh. 18