September 13, 2006
Granholm visits Michigan State University award recipients
LANSING – Governor Jennifer M. Granholm today visited Michigan State University’s College of Engineering, home to eleven of the 61 awardees selected last week by the Michigan Strategic Economic Investment and Commercialization (SEIC) Board to share more than $100 million from the first round of the 21st Century Jobs Fund. The initiative is part of the governor’s comprehensive Jobs Today, Jobs Tomorrow economic plan to grow Michigan’s economy by helping to create jobs in Michigan’s emerging technologies.
“The work being done at Michigan State University is an excellent example of what the 21st Century Jobs Fund is all about,” said Granholm. “Thanks to their world-class research and creative collaborations with area businesses, Michigan State is helping build tomorrow’s automobiles, develop tomorrow’s energy sources, discover tomorrow’s life-saving medicines, and create jobs that will help keep our graduates here at home.”
The 21st Century Jobs Fund is a $2 billion, ten-year initiative proposed by Granholm, approved by the Michigan Legislature, and administered by the Michigan Economic Development Corporation (MEDC) to accelerate the diversification of Michigan’s economy and create jobs. The initiative will focus on growing and attracting jobs in the high-growth sectors of life sciences, alternative energy, advanced automotive materials and manufacturing, and homeland security/defense.
MSU researchers received eleven of the 61 awards totaling $13.1 million in 21st Century Jobs fund grants in hopes to create 120 new jobs. The projects will fund groundbreaking research for developments such as: hybrid drive trains for heavy duty vehicles, advanced homeland security device sensors, organic boron compounds for pharmaceutical materials, and a fiber optic dissolved oxygen sensing system.
MSU received eleven of the fourteen awards given to companies and universities in the Lansing area. Other Lansing area award recipients include AFID Therapeutics Inc. in Lansing, Fraunhofer USA Inc. in East Lansing, and KTM Industries Inc. in Watertown Township.
“It’s truly a win-win situation for all,” Granholm said. “MSU students get hands-on experience, and our communities get more advanced building materials, pollution-free engines, cancer treatments, and the jobs that come with it.”
Last week’s award announcement was the culmination of a process that began eight months ago with Granholm’s announcement of a request for proposals for 21st Century Jobs Fund commercialization funding.
The original field of 505 proposals was narrowed to 179 finalists by an independent peer-review process conducted by the American Association for the Advancement of Science (AAAS). The 179 finalists recently underwent intense, individual interviews by AAAS experts who then made final recommendations to the SEIC board.
The AAAS is the world’s largest science and engineering association and publisher of Science magazine. Awardees include researchers at Michigan public universities and private research institutes and entrepreneurs working to commercialize technology-based products.
Each of the awards will be administered by the MEDC, with contracts that establish conditions and mileposts for receipt of funds. Contracts, individually tailored to each proposal, will be finalized by the MEDC’s general counsel in consultation with the Michigan attorney general. The MEDC employs portfolio managers similar to those of venture capital operations who will oversee the progress of the projects. Award funding will be paid out incrementally as project milestones established in the proposal and contract are achieved.
The contract and funding process will be overseen by the chief compliance officer, a position required by the 21st Century Jobs Fund legislation.
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