Michigan's universities are innovation magnets, attracting the brightest minds and producing the most cutting-edge ideas and technologies. Over the past five years, for example, Michigan's three URC universities – MSU, U-M and Wayne State – have announced an average of one new invention every day, and collectively these discoveries have led to more than 500 license agreements for new technologies and systems.
 
"But before a technology can get the attention of potential investors, there needs to be something beyond the basic research -- a prototype, for instance -- and that costs money," explained Tina Bissell, MIIE/MUCI business manager. "That is precisely why the Michigan Initiative for Innovation and Entrepreneurship (MIIE) and its predecessor program the Michigan Universities Commercialization Initiative (MUCI) were established."

Michigan's Life Science Corridor and 21^st Century Jobs Fund Initiative funded MUCI. Some of Michigan's generous foundations (Mott, New Economy Initiative and Dow) have funded MIIE, which has just received new support from the Michigan Economic Development Corporation (MEDC)  
 
MUCI/MIIE is a collaborative effort between all 15 of Michigan's public universities to complement and enhance technology transfer activities in an effort to help strengthen and diversify Michigan's economy. The focus is on commercialization projects in the life sciences, alternative energy, homeland security and defense, and advanced automotive & manufacturing. In addition to its academic partners, MUCI also benefits from the involvement of a diverse group of industry and venture capital professionals associated with a wide variety of organizations.

MUCI/MIIE contributes to these commercialization efforts by providing gap financing for early-stage technologies developed at its member institutions, moving them forward. Michigan's universities are then able to enhance their technology transfer activities by working closely with venture capital and industry representatives and spin-out start-up companies in the private sector.

Since it was created in 2001, MUCI has given 102 awards totaling more than $8 million; 53 start-up companies have developed out of MUCI-funded technologies, 44 of which are still in existence. Approximately 91% of the technologies developed came out of the URC universities with U-M accounting for roughly 60% and MSU and WSU generating 23% and 9% respectively.
 
"There have been a total of 27 MUCI funding cycles to-date," Bissell said. "The 27th was funded largely with returns made to the Challenge Fund by financially successful MUCI-funded projects which are required to pay back to the fund three times the amount of their award once they start making money."
 
This edition of the URC e-Newsletter will focus on a few of the more successful MUCI "graduates." Enjoy and Happy New Year!