annarbor.com reports, private equity investment company Greenfield Partners will be throwing big bucks at University of Michigan students’ startup businesses. Read the article, “Investment company moves to Ann Arbor to provide funding for University of Michigan student entrepreneurs,” by Tom Perkins, on annarbor.com
Ben Rye, who owns Greenfield Partners with his father Jon, told Perkins; “We’re interested in ideas started by students in the engineering and medical programs and really leveraging their ideas...because it’s difficult for students to know where to go in starting to look for assistance.”
Hopefully their investments will establish companies that will one day lead their industries in the 21st-century. Here on the The Center for 21st Century Communities (21c3) website, we’ve been blogging about entrepreneurship and seven other “assets” that make communities vibrant places to live and work. It’s good to see such investment happening here in Michigan.
The companies first project will grant $10K to the winner of a contest through incubator Techarb. After that, their startup investments will range from $10K to $150K.
“Beyond funding students’ start ups, Greenfield Partners is also interested in middle market companies they could purchase and turn around, for which typical investments would run between $2 million and $10 million,” Perkins reports.
Jennifer Eberbach is a professional journalist and writer. Find contact information on her website www.jenthewriter.info.