Five local companies share $1 million in Automation Alley funds
BYLINE: Eric Morath
Automation Alley announced today a total of $1 million in investments in five local companies.
The Troy-based technology consortium choose the firms among more than 100 applicants. It will provide funds to aid them in research, development and commercialization of their products.
The companies were: Cielo MedSolutions of Ann Arbor, Farmington Hills-based Critical Signal Technologies, Ann Arbor-Danotek Motion Technologies, RazorThreat of Royal Oak and Southfield-based SecureCom Technologies.
"Working with small businesses that offer innovative products is key to southeast Michigan's transition to the new economy," said Tom Anderson, senior director, Automation Alley. "By supplying entrepreneurs with the funding needed to take their product or service to market, we are not only creating new jobs for our region but we're also helping solidify Southeast Michigan as a leader in the technology industry."
The investments represent a portion of the $6 million automotive accelerator grant awarded to Automation Alley's Technology Center by the state's Strategic Fund Board in 2006.
The winning companies work in field ranging from healthcare to data security:
¥ Cielo MedSolutions is a provider of healthcare software and information technology. Cielo focuses on helping physicians improve quality of care while increasing health insurance reimbursements.
¥ Critical Signal Technologies helps seniors and those rehabilitating at home with monitoring for a blood pressure, activity and medication compliance.
¥ Danotek Motion Technologies is an engineering and manufacturing company that specializes in advanced electro-mechanical drives, motors, and digital sensor/sensorless control systems.
¥ RazorThreat develops threat intelligence software that protects intellectual capital and personally identifiable information from targeted bots and malicious software that gets through existing firewalls.
¥ SecureCom Technologies provides risk assessment and consultation for high-risk security organizations and specializes in the design and installation of network security devices.