February 1, 2016, DETROIT- Inventev LLC was awarded a $500,000 grant from the ARPA-E agency of the U.S. Department of Energy to model, develop and test key elements of its commercial truck plug-in hybrid electric drive system that also generates job-site power. The targeted research will be centered in southeast Michigan led by TechTown Detroit-based Inventev, which is also a recipient of NextEnergy’s $50,000 MATch Energy Grant, a fund established by the Michigan Economic Development Corporation to provide cost-share to Michigan companies applying for federal grants.
“Supporting companies like Inventev with the MATch Energy Grant positions start-ups to compete for federal funds, and ultimately keeps them on the path to growing new jobs," said Jean Redfield, president & CEO of NextEnergy, "NextEnergy looks forward to further supporting Inventev by providing testing and demonstration support services at our microgrid on our 2.8-acre campus in Detroit.”
Source:Crains Detroit Business
January 14, 2015 - Media and auto executives have been fixated on the products from some of the world’s best-known companies during the North American International Auto Show in Detroit this week. But Wednesday morning, attention turned to up-and-coming businesses during Ignition 2015, a startup-oriented event hosted by Crain’s and NAIAS.
As part of Ignition, Ann Arbor-based TowerSec Inc. was crowned the hottest startup at the Detroit auto show by the event attendees.
TowerSec was one of five startups to present during the event, in addition to Plymouth-based Beet LLC, Ann Arbor-based Inmatech, Detroit-based Inventev and Vancouver-based Mojio.
Source: Kettering University
December 4, 2014 - President Robert K. McMahan moderated an entrepreneurship roundtable with Dr. James Zhang, provose and senior vice president for Academic Affairs, and and eight prominent Kettering University alumni to discuss the current and future relationship between higher education and entrepreneurship on Dec. 3. The topic was spurred by the opening of the “T-Space” in the C.S. Mott Building.
“This [T-Space] represents the state in which things are done,” McMahan said. “The world in which we are graduating students requires innovation in these unique spaces.”
The T-Space is a place for light prototyping with access to 3D printing, laser and vinyl cutting, a variety of electronic gadgets, whiteboards, moveable furniture, music creation, communication devices and a green room for animation and multimedia production. In the near future, the space will contain servers that will provide students with access to software that may not otherwise be common on campus. The tools currently provided are plentiful for computer scientists and mechanical and electrical engineers to experiment. The purpose of the space is to assist students develop an innovation and entrepreneurial mindset while providing the tools to explore new technologies and inventions.
November 18, 2014 - Inventev scored a win at the Accelerate Michigan Innovation Competition earlier this month, adding $25,000 in seed capital to its current fundraising efforts.
"It will really help us with analytics so we can continue to match our product to customer needs," says Dave Stenson, founder & CEO of Inventev. "It will also help us with raising financing."
The TechTown-based startup is aiming to raise $5 million to bring its automotive hybrid technology to market. The company is looking to raise two tranches of money, and Stenson expects to close on the first $1.5 million in the first quarter of next year.
Source: Xconomy Detroit/Ann Arbor
January 31, 2014 - The Annual Collaboration for Entrepreneurship conference was held yesterday in Livonia, MI, drawing startups and investors from around the state of Michigan. At the conference, the winners of the Great Lakes Entrepreneurship Quest (GLEQ) business plan competition were announced. Startups also competed in an elevator pitch contest.
Conference organizers say that more than 200 entrepreneurial ventures participated in the business plan competition, which was open to early-stage startups with up to $3 million in cumulative sales. The judges consisted of more than 85 VCs, angel investors, tech transfer officials, and economic developers. Here’s a look at some of the winners:
In the emerging company category, Detroit-based Inventev, which has developed a system to bring mobile power generation to commercial truck fleets, won first-place honors and $5,000. The company was also awarded a presentation slot at the Michigan Growth Capital Symposium in June.