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NEI awards two-year, $350k grant to LTU for growth of small manufacturers, hardware startups

Release Date: April 9, 2019

The New Economy Initiative (NEI) has awarded a two-year grant of $350,000 to Lawrence Technological University (LTU) for the support of the Centrepolis Accelerator that will expedite the growth of small manufactures and emerging hardware startups in Southeast Michigan.

“We are so grateful for the NEI’s partnership with LTU and their shared commitment to help strengthen the foundation of Michigan’s manufacturing, product design and engineering heritage,” said Virinder K. Moudgil, president of LTU. “NEI’s two-year commitment provides LTU and the Centrepolis Accelerator the ability to offer in-depth client programs and resources, especially as we move forward with the opening of the accelerator’s 6,300-square-foot facility on campus this fall.”

The grant enables the Centrepolis Accelerator to offer small manufactures and hardware innovators extensive technical support and professional resources to grow their businesses. This represents the second grant that the NEI has provided to LTU.

“Southeast Michigan is a world-wide leader in product innovation, engineering and manufacturing,” said Maria LaLonde, senior program officer at NEI. “We are extremely excited to offer LTU support to help small manufacturers and hardware entrepreneurs with critical resources to keep them on the leading edge of innovation and growth. As a university-based accelerator program, LTU is also a key partner to engage and develop the next generation of students and leaders in design, engineering and manufacturing in Michigan.”

The Centrepolis Accelerator is part of the Southfield Centrepolis SmartZone, and has received support from the Michigan Economic Development Corp.’s 21st Century Jobs Fund and the Michigan Energy Office. The Accelerator operates as a partnership between the City of Southfield and LTU. Its 6,300-square-foot accelerator center, scheduled to open this fall, will have amenities for new product development and prototyping, including co-working space, 3D printing machines, a virtual reality and augmented reality laboratory, and more. Learn more at www.centrepolisaccelerator.com

The New Economy Initiative (NEI) is a philanthropic collaboration working to grow an inclusive culture of entrepreneurship in southeast Michigan that benefits all residents and strengthens the regional economy. A special project of the Community Foundation for Southeast Michigan, NEI acts as a strategic grant maker, convener, and storyteller in its efforts to build and sustain a network of support for diverse entrepreneurs who are creating a better future for their communities. Learn more at https://neweconomyinitiative.org.



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