Survey Says NextEnergy Supported $115M Funding, 383 Jobs
DETROIT (WWJ) -- NextEnergy, the state's advanced energy industry accelerator, produced a $115 million, 383-job boost to the state's economy, a new study says.
From January 2011 through June 2013, 44 companies that NextEnergy has supported secured $115 million in funding and created or retained 383 jobs, says data from a recent client survey.
During that time, those companies also commercialized 67 products, filed 443 patents, copyrights and trademarks and invested $89 million on plant and capital expansions.
"For more than 10 years, NextEnergy has been dedicated to accelerating advanced technology markets in Michigan and we are pleased to see that our work has created substantial benefits for Michigan companies," said NextEnergy President and CEO, Jean Redfield.
NextEnergy, a Detroit nonprofit, supports industry and venture growth to accelerate the commercialization of advanced energy technologies and drive economic activity in Michigan. NextEnergy supports companies, technologies and industries through value chain analysis, venture development and collaborative research and development.
Multiple NextEnergy clients have praised the organization's ability to keep a finger on the pulse of multiple sectors in advanced energy, citing the organization's guidance as a resource that leads their company to the next stage of development.
"XG Sciences has benefited greatly from NextEnergy's wide variety of support, including marketing information, matchmaking, financial, advertising, and others," said VP Energy Markets at XG Sciences, Rob Privette.
Inmatech Inc., another NextEnergy client company, recently won the $25,000 Alternative Energy Sector Prize at the Accelerate Michigan Innovation Competition for their work developing next generation supercapacitor devices. Eleven NextEnergy clients were selected as semifinalists in the Accelerate Michigan Innovation Competition, of those semifinalists, three received cash prizes totaling $175,000.
"Support from NextEnergy, along with backing from groups like Great Lakes Entrepreneur's Quest and the Office of Technology Transfer from the University of Michigan, are vital to the development of start-ups like Inmatech to help accelerate and attract strategic partnerships going forward," said Inmatech Inc. Chief Technology Officer and Co-Founder, Saemin Choi.
Founded in 2002 as 501(c)(3) nonprofit organization, NextEnergy drives technology demonstration and commercialization; delivers industry and venture development services; and provides an authoritative voice in the public sector. Since its inception, NextEnergy has helped attract more than $1.3 billion of new investment in the state of Michigan, including programs in excess of $150 million in which NextEnergy has directly participated.
For more information, visit nextenergy.org.
