Memos
Dr. Michael L. Epstein of Bingham
Farms was recently appointed chief
of staff at Children's Hospital of
Michigan in Detroit. He is also asso-
ciate chair for clinical affairs,
Department of Pediatrics, Wayne
State University School of Medicine.
So far, more than 200 projects
have been evaluated, more than $2.5
million was invested in four ven-
tures, including a new natural dia-
betes drug, and an infant formula
supplement. Three more ideas are
going through the approval process.
The Israeli government provides
$500,000 for each approved project
and NGT provides $100,000 for
overhead and coaching, said Dr.
Devir.
The terms are simple. "If we don't
make any money, we don't have to
pay back the loan, and we also lose
the $100,000.
"The main idea is to invest in a
project that will be ready to sell in
six years from Day One," said Dr.
Devir. "If it's a success, everyone
shares in the profits."
About 50 percent of the ideas are
related to life sciences, and some are
not doable, Dr. Devir said. "One
bizarre idea was a machine to meas-
ure the space between the end of
your toes and the inside of the shoe.
Might be a good idea, but it doesn't
need a start up cost of $600,000 and
six years of development.
"Another idea was to extract steam
power from a nuclear energy plant,
but the prototype would cost about
$40 million," he said.
Success is also measured in the
way Arabs and Jews work together. .
"Around 50 percent of the startups
are with Arabs who never before
worked on a startup," said Dr. Devir.
Dolev said, "Many Arabs are join-
ing universities, graduating and find
themselves blocked from getting
jobs because many Israeli companies
network with people in the military,
and the Arabs end up frustrated.
The incubator provides an opening
for them."
It's a much better atmosphere, said
Dr. Devir, as "Jews and Arabs meet
to talk business, not politics."
NGT's Mssarwa said it simply,
"Money wants stability. It runs away
from instability."
Dolev said, "If you start pushing
business, and people start to have
something they can lose, they will
start being more careful."
So far, the group has raised nearly
$500,000 from investors. They are
seeking $2 million by the end of the
year, and eventually $12 million.
They are looking for "angels":
Jews, Arabs and Christians not nec-
essarily experienced in venture capi-
tal, but willing to invest money,
Dolev said. "We are looking for
angels, we are looking for diversity
and people who are willing to offer
an $80,000 minimum investment.
"It's an investment with a glimmer
of a vision." ❑
For more informatio i
contact Eyal Dolev, (
9000, or dolev@qen.
Lynne Avadenka of Huntington
Woods is now represented in the
Jewish Museum in New York. The
museum purchased two of her works
for its permanent collection; both
are mixed media pieCes.
Jonathan Guyer of Huntington
Woods has been recognized by the
Comcast
Foundation as
one of its leaders
and achievers. He
was awarded a
$1,000 grant for
his outstanding
commitment to
community serv-
Guyer
ice. Guyer is a
2004 graduate of
the Jewish Academy of Metropolitan
Detroit in West Bloomfield and will
attend Brown University in
Providence, R.I., in the fall. His par-
ents are Dr. Dan Guyer and Cheryl
Guyer of Huntington Woods.
Dena Rachel Loeffler recently grad-
uated from Michigan State
University with two bachelor of arts
degrees in sociology and women's
studies. She was the recipient of the
Women's Studies Program Excellence
in Community Service and
Achievement Award. She will begin
graduate studies at Ball State
University in Muncie, Ind., this fall.
Loeffler is the daughter of Dr. David
and Sandy Loeffler of Oak Park.
Carrie (Apsel) Hearshen of
Farmington Hills recently graduated
from University of Judaism, in Bel
Air, Calif, with a master of arts
degree in Jewish education.
Josh Hearshen of Oak Park recently
graduated from the University of
Judaism in Bel Air, Calif., with a
master's degree in rabbinic studies.
%TVS Honors
Four, Etkin
Etkin Equities and four local
employees were honored at the
seventh annual JVS Strictly
Business Awards and
Networking Luncheon on June
10. Keynote speaker was L.
Brooks Patterson, Oakland
County executive.
Etkin Equities received the
JVS Business Leadership Award
in recognition of its outstand-
ing commitment to the voca-
tional success and well-being of
its employees." Etkin Equities
is a full-service real estate
organization that acquires,
develops and operates office,
industrial, restaurant and hotel
properties. Doug Etkin, princi-
pal of Etkin Equities, accepted
the award.
The four individuals who
received the JVS Employee of
the Year Awards were Charles
Gross of West Bloomfield;
Michael Jenkins of Detroit;
Jaime Junior of Southfield; and
Jeremy Sturza of Hazel Park.
The honorees were recognized
for overcoming obstacles to
employment and becoming
exemplary employees.
Doug Etkin
Strictly Business is an annual
fund-raising luncheon for JVS.
This year's event raised
$306,000 through 200 corpo-
rate sponsorships. The monies
will help JVS provide job place-
ment, career development,
mental health services, voca-
tional rehabilitation, adult day
care and other specialized sen-
ior services .from seven offices
in the Detroit area.
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(313). 891-6500
JA.•
7/ 2
2004
(248) 540-5550
801190
57