(Troy, Michigan) - A new group is aiming to foster its own Silicon Valley here by offering free office space and services to promising high tech startups.
Officials from the North Woodward Tech Incubator plan to complement the area's existing incubators by targeting very early stage high tech companies that may not yet qualify for space in larger incubators.
"We want to help entrepreneurs take those first difficult steps from concept to execution," said founder Andrew Basile, in a press release posted on Automation Alley. Basile is an attorney based in Troy and Silicon Valley. His law firm, Young Basile, specializes in intellectual property and is the primary sponsor of the new non-profit incubator.
A business incubator is a facility that provides workspace and support services to start-up businesses. When fully operational, the North Woodward Tech Incubator will accommodate up to six companies. Young Basile came up with the idea for the incubator while trying to sublease excess office space.
"We had space we didn't need, and we realized we could either let it sit vacant or put it to good use helping diversify Michigan's economy," said Karen Yancura, the firm's executive administrator. The incubator intends to offer both facilities and advice, and plans to link up each tenant in the incubator with an "industry coach" who can mentor young companies.
"The infrastructure and resources provided through this grass-roots effort will be another important element of Michigan's transformation to an entrepreneurial economy," said Jim Croce, former CEO of Next Energy and a member of the group's advisory board. Other advisory board members include State Representative Marty Knollenberg, venture investor Terry Cross, and Bobbi Blake, an executive with Troy-based Altair Engineering.
Basile, who shuttles between Detroit and California, has worked with over one hundred of start-ups in the San Francisco Bay Area. He sees Michigan's current downturn as an opportunity to catalyze necessary changes in culture and policy. "The only thing holding back Michigan is Michigan," he says. "It has everything it needs to compete successfully, but our people must more fully embrace a culture of innovation, risk-taking and knowledge."
For more information contact about the North Woodward Tech Incubator visit http://www.northwoodward.org/
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