On September 18, Ann Arbor SPARK presented its Local Development Finance Authority (LDFA) fiscal year annual report to the Ann Arbor-Ypsilanti Smart Zone board. The report detailed another banner year with the SPARK entrepreneurial services team serving 175 companies and helping create 57 companies — an all-time high for the organization.
“Any time an organization can help create more than 40 companies in a single year is a huge accomplishment and should be celebrated,” said Bill Mayer, vice president of entrepreneurial services at Ann Arbor SPARK. “The fact that we were able to achieve such a high number speaks to both the ingenuity of our city and the caliber of services SPARK provides. The commitment of LDFA to champion a culture of innovation here in Ann Arbor is having a direct, positive impact on our economy as well as our reputation as Startup City USA.”
Another benchmark noted within the report is the number of full-time equivalent employees (FTEs) working for the 175 companies receiving support from SPARK’s entrepreneurial services. This year, these companies employed an additional 199 FTEs, bringing the total number to 695 FTEs. In the past five years, SPARK provided services to 419 unique companies that currently employ 2,954 FTEs.
Ann Arbor SPARK fosters the Ann Arbor and Ypsilanti entrepreneurial ecosystems with support from the MEDC and the LDFA. This funding ensures the continuation of SPARK incubator and accelerator services, educational events, Entrepreneur Boot Camp, and provides grants for critical startup services.
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