Sunday, July 5, 2009

Not Their Parents' Basement: Students Open Incubator On Ground Floor

A group of student entrepreneurs has opened a small-business incubator in the basement of a downtown Ann Arbor building. They'll spend the summer sharing space, equipment and ideas. The incubator, called the TechArb, hosts 30 students running 10 different start-ups. The space came together with the help of Ann Arbor venture capital firm RPM Ventures, the University of Michigan College of Engineering's Center for Entrepreneurship, and a new student-run entrepreneurial organization on campus, Maize Ventures. The aim of the TechArb is to create a community for student entrepreneurs. Marc Weiser, RPM Ventures managing director, compares it to a beehive. "A bunch of bees flying out on their own aren't really productive," Weiser said. "But you get them all centralized in one place and they become very productive and make lots of honey."
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