ROCHESTER – Oakland University officially opened its 38,000 square foot on-campus incubator April 18, which will help professors and Michigan entrepreneurs with great ideas commercialize their products and services. David Spencer, former CEO of Michigan Virtual University, serves as its first director.
The OU INCubator, in the Oakland County Smart Zone, is collaboration with Automation Alley, the Great Lakes Interchange, Michigan Economic Development Corporation, Oakland County and the City of Rochester Hills. It provides business services, counseling, mentoring, pre-seed funding, training and business development to start-up businesses. What’s more, OU INCubator businesses have access to a network of OU resources including faculty, students and research centers.
?OU INC members can come here, set up shop and discover what it takes to effectively start up a new business. Member services include applied research and development, business and marketing planning, assistance with loan and grant proposals, and assistance with financing and capital acquisition,? Spencer said. ?We want to make this the place where new business will come to learn, grow and prosper. Entrepreneurs can establish their business, thanks to a unique infrastructure that will help them succeed.?
Right now, 12,000 square of the 38,000 square foot facility foot is dedicated to tenants. OU INCubator’s phase II and III plans call for further development of a 25-acre parcel at the University to create a certified technology park over the next three to five years.
“We’re open to any entrepreneur in Michigan that has an interest in working with us,” Spencer said. “We coordinate with the University faculty and provide student interns, access to university labs for the companies. Also provide them with assistance in acquiring grants, angel investors, and VC support.”
The incubator is starting with eight tenant client companies in the first phase and five or six affiliate member companies – those start ups that want commercialization services, but may not need tenant office space, Spencer said.
Two of the first companies based at the incubator are JADI, which makes unmanned robotic vehicle, and GS Engineering, which takes the weight out of heavy-duty military vehicles. Both work closely with TACOM in Warren, the U.S. Army’s equipment depot.
?We?re in the business of technology,? said Ken Rogers, executive director of Automation Alley. He added the region has been branded for excellence in technology and OU INC is going to help continue to grow the reputation. OU INC intends to increase partnerships, including with the city of Auburn Hills, and continue to expand the services provided to businesses within the incubator.
For more information, click on Oakland.Edu/OUINC
