MI New Economy
In Houghton, Orbion Space Technology is doing what no other high-tech aerospace company has done before: offering a rocket propulsion system at an affordable price for commercial satellite companies.
To help the company reach new heights, Orbion turned to its local SmartZone at Michigan Technological University for access to business development support and the Tech Transfer Talent Network's Mentors-in-Residence program to identify opportunities and venture creation programs to build its foundation.
"The support we've received from the MEDC - both financially and in the form of resources within the ecosystem - has been an invaluable contributor to our company's achievements," said CEO Brad King.
Orbion has gone on to raise $30 million in combined Series A and Series B venture capital funding and was named Up-and-Coming Company of the Year by the Michigan Venture Capital Association. It also was recently awarded a U.S. Air Force contract to enhance the resiliency of U.S. systems in space.