Airport Wind Turbine, Educational Software, Customized News Get Michigan Microloan Funds
Three Michigan companies have received a combined $104,000 through the Michigan Microloan Fund Program, managed by the Ann Arbor SPARK business incubator. This latest round means the program has invested a total of more than $1.3 million in 36 companies since it was started last July.
Microloans range from $10,000 to $50,000 and are reserved for privately held companies based in Michigan.
The latest grant recipients include:
Terra-Telesis, doing business as AWGET (Airport Wind Generated Electric Turbine): The Okemos, MI, company is developing a turbine that harnesses winds generated by planes taking off and landing, touse them as a power source at airports.
KnowledgeWatch: The Ann Arbor, MI, company “tracks and harvests” news from many sources and delivers them in one-page, real-time, customized news digests for knowledge workers and decision-makers.
uwemp: The Ann Arbor-based educational software company is developing what it calls “Confidence-based Learning” that offers students relevant, Web-based curricula.