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Depot Redistributes Life Sciences Equipment to Michigan Companies
The Michigan Innovation Equipment Depot has distributed its first round of life science research equipment to start-ups around the state. The Depot program, developed by Pfizer, Ann Arbor SPARK, MichBio and Michigan's SmartZones, redistributes previously used life science laboratory equipment to new Michigan companies. More than $655,000 and 131 items were awarded in the inaugural round to 18 applicants. The value of this equipment ranged from $25 to $125,000 -- an average of $4,404 per item.
The program is designed to accelerate life science commercialization by reducing the overhead equipment costs of new startups. In order to participate, companies must apply through their local SmartZone representatives and demonstrate a critical need for the equipment, as well as a positive economic impact for the state.
Find out more about the program at: http://www.automationalley.com/autoalley/Tech+Center/Services+and+Resources/MichiganInnovationEquipmentDepot.htm