ANN ARBOR ? The new president of the Michigan Venture Capital Association wants to create stronger ties with the Michigan entrepreneurial community and Michigan state government to expand the level of entrepreneurial activity in the state.

Jan Garfinkle, Managing Partner of Arboretum Ventures, and the new president of the Michigan Venture Capital Association, shares her views on how to accomplish these goals in a guest column, which was published in the MVCA fall newsletter.

I would like to see MVCA become an

organization that is recognized locally, regionally, and

nationally as a representative of the Michigan venture capital

community.

To accomplish this, I believe we need to work on furthering

ties between MVCA and the Michigan entrepreneurial

community. Additionally, we need to continue to work

together with the State government to expand the level of

entrepreneurial activity in our State. It is my belief that such

efforts will expand the level of venture capital activity in

Michigan and will close the gap between Michigan and

geographic locations known today for their level of venture

funding activity.

In preparation for 2006 the board of MVCA has developed a

strategic plan with several short-term and long-term goals.

These 2006 goals are further detailed below.

Immediate goal: Support the entrepreneurial activities in order to

develop more venture-backed companies in Michigan.

Initiate a program where MVCA members as well as

experienced start up management and board members

will be accessible to entrepreneurs and start-up

companies as mentors. This can be done through an

executive and board member directory, business plan

competitions and a key initiative for an Entrepreneur in

Residence program.

Encourage initiatives that provide gap funding ($50,000 –

$200,000) for start-ups. Assist organizations providing

such gap funding (e.g. MUCI, MEDC) in selection of

recipients of the awards.Immediate goal: Establish MVCA as a key constituent in the start

up community.

MVCA should be viewed by all the relevant stakeholders,

including MUCI, entrepreneurs, MEDC, and the Michigan

legislature, as a proactive, high value information source

with regard to the Michigan start-up community.

Programs run by MVCA may include quarterly roundtable

discussions between venture capitalists, start-up

executives, academics, and legislative representatives.

Long term goal: Advance venture capital investment in Michigan to

the point where there are at least three Michigan headquartered

funds with assets valued at $100 million or greater within 5 years.

Encourage institutions to join Michigan venture funds as

Limited Partners (LPs) because:

1) Michigan funds provide excellent returns. MVCA

members should seek to provide the best returns in the

industry.

2) Michigan funds are known for their success stories.

MVCA members should publicize their successful deals

locally and nationally to seek better awareness among

potential LPs and co-investors.

3) The only way to access these returns and success stories

is to become an LP in a Michigan fund.

Long term goal: Establish MVCA to be the go-to organization with

regard to state-wide venture capital activity, as perceived by both

venture capitalists and entrepreneurs.

MVCA should be known as the go-to organization because:

1) It has the accurate and timely data with regard to

Michigan venture funding activity.

2) It is well known by relevant constituencies including the

legislature, the press, and the National Venture Capital

Association (NVCA).

3) Leaders of the Michigan venture capital community serve

as committee and board members of the NVCA.

4) The leaders of the MVCA member firms are often quoted

in local, regional, and national press.

5) Every venture capital firm is a member of the MVCA, and

MVCA membership is listed in every firm?s standard

descriptor.

I hope that you are equally excited about MVCA?s prospects

and that you will join me in our efforts to reach the goals

outlined above

.

Garfinkle founded Arboretum Ventures in January 2002. Jan serves on the Board of Directors of HandyLab, Thermocure, and Uptake Medical, and as a Board observer for NeoGuide. Prior to Arboretum, she spent twelve years at two successful start-up medical device companies, Advanced Cardiovascular Systems (ACS) and Devices for Vascular Intervention (DVI). Both of these Northern California companies were acquired by Eli Lilly, becoming the foundation for Guidant Corporation, an Eli Lilly spin-out in 1994. Jan joined each company early in its development, and held key management roles in marketing, clinical research and sales. Jan was also the President of Strategic Marketing Consultants, a consulting firm focused on the commercialization of life sciences technologies. Early in her career, she was a manufacturing engineer for Proctor & Gamble.