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 benefit." Leading this move for Michigan was the state's performance in three key categories: -- 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