ANN ARBOR, Mich., March 15 /PRNewswire/ -- The Michigan Small Tech
Association announced today that Michigan has moved up three spaces in the
annual top 10 ranking of micro and nanotechnology states for 2005, tying Texas
for fifth place. The annual rankings are published each March by Small Times
Magazine, and cover six categories: research, industry, venture capital,
innovation, work force and costs. The state jumped ahead with a strong
showing in three key categories.
"Making the move from eighth to fifth displays Michigan's tradition of
invention, innovation and integration," said John Bedz, Director of the
Michigan initiative. "As new technologies move faster from research through
commercialization, Michigan's industries new and old will continue to
Leading this move for Michigan was the state's performance in three key
-- Industry - Michigan moved up from sixth to fourth place in this
category, which measures the business environment for companies
working with small tech.
-- Innovation - Michigan came in fifth in this category after not being
recognized in the category last year. The innovation category measures
how effective a state is at converting ideas into inventions.
-- Venture Capital - Michigan made a strong move here from ninth to
third. This category measures the number and amount of VC deals in
the state. Michigan displayed increased activity in a category that
showed a decrease in activity nationally.
Federal funding for research in small technologies is expanding as the
U.S. works to preserve its place as home to technology development. Small
tech enabled products have application in every industrial sector. Ample
opportunity exists as states seek to carve out expertise. Michigan's strong
history with technology research, development and integration makes it fertile
ground for continued improvement in technology rankings.
Joseph Giachino, Director of External Programs at the Center for Wireless
Integrated MicroSystems, an NSF Engineering Research Center, said, "MEMS
continues to grow as more technology finds its way into the marketplace as
product. The WIMS Center is a source of technology researchers and
entrepreneurs for this rapidly expanding industry." Giachino, who also serves
in an advisory capacity for the Michigan initiative added, "Our center brings
researchers from the University of Michigan, Michigan State and Michigan
Technological University, together with industry partners to develop
technology for commercial integration."
About the Michigan Small Tech Association:
The Michigan Small Tech Association is an initiative of the Michigan
Economic Development Corporation. It seeks to promote acceleration of this
technology sector through research, commercialization and the fostering of
business relationships. MISTA works with companies, universities and
individuals involved in or supporting micro and nanotechnology development in
Michigan. To find out more, visit: http://www.michigansmalltech.com .
SOURCE Michigan Small Tech Association