Metro New Jobs? WSU's TechTown partners with Michigan Israel Business Bridge to create economic opportunities. Mexico," said Nancy Cappola, TechTown's International Soft Landings Director Nancy Cappola. "We help companies cre- ate their business infrastructure in North America, and work with Michigan com- panies that want to export to the world." Cappola's department oversees outreach, advocacy and recruitment of interna- tional companies looking for entry into the U.S. market. In the words of Charlton, Soft Landings is TechTown's "full-service concierge program for international com- panies." Francine Wunder Special to the Jewish News C ountering rumors that economic opportunity in Michigan is con- tinuing a downward spiral, a new partnership has emerged between Wayne State University's TechTown business incu- bator and the Michigan Israel Business Bridge (MIBB), a nonprofit organization that supports entrepreneurism and corn- merce between Michigan and Israel. Ann Arbor-based MIBB and Detroit- based TechTown recently co-hosted a networking reception that attracted more than 60 entrepreneurs and stakeholders eager to learn about the economic oppor- tunities emerging for both Detroit and Israel as the result of a recent nine-day mission to Israel by a WSU delegation. The trip, coordinated in cooperation with MIBB and the Jewish Community Relations Council of Metro Detroit, includ- ed meetings with WSU scientists, faculty and administrators, TechTown representa- tives and their counterparts in Israel. MIBB Executive Director Ron Perry spoke of the enormous potential a Detroit- Israel partnership has to create new com- panies and jobs, particularly in the areas of bio-banking, homeland security and stern cell research. Noting that Israel "has attracted a ven- ture capital community that is the envy of the world"' said Randal Charlton, executive director of TechTown. "Israel has turned itself into an `innovation society' By build- Jerrold Rubin, TechTown's International Soft Landings Program mentor; Amnon Pelz, CEO, Taburit; Nancy Cappola, director, International Soft Landings Program; and Robyn Lederman, secretary/board member of Michigan-Israel Business Bridge ing a culture that values teamwork in lieu of hierarchy, particularly within its uni- versities, Israel has become a leader in the business of science' Charlton said that TechTown is poised to follow Israel's example by helping to facilitate Israeli tech transfer collabora- tions with researchers from Wayne State and its University Research Corridor (URC) partners (the University of Michigan and Michigan State University). More significantly, TechTown — by virtue of its International Soft Landings program and location on the U.S.-Canada border — can provide Israeli entrepreneurs with desperately needed access to North American markets and an infrastructure from which to do business. "When you come to Detroit's TechTown you get Michigan, the U.S., Canada and Israeli Opportunity Israeli businessman Amnon Pelz quickly booked a flight to Detroit after meet- ing Charlton. Within two weeks of the Wayne State visit, TechTown had helped Pelz establish a U.S. mailing address and arranged meetings with venture capital- ists. Pelz is in the process of establishing a U.S. subsidiary of his company, Taburit. In addition to establishing a private cord blood bank, Taburit adds the unique overlay of an insurance product that safeguards against the potential loss of biologic property. "This is an opportunity to bring into the insurance world a new product and I want to take it global;' Feltz told the audi- ence at the networking event. According to Charlton, stem cell research is the next phase of science and one of the most promising areas of oppor- New Jobs? on page 16 TechTown And Hebrew Free Loan Help Entrepreneurs T echTown has formed a new partnership with Hebrew Free Loan (HFL), a private commu- nity organization with a 115-year history of providing interest-free loans to assist Jewish individuals in need. Bloomfield Township-based HFL has pledged a starting pool of $300,000 to begin issuing short-term loans to Jewish entrepreneurs committed to remaining in Southeast Michigan. As Detroit's largest and fastest-growing small business incu- bator, Wayne State University's TechTown will be responsible for identifying loan candidates who have viable business ideas, have successfully completed a TechTown FastTrac program or are cur- rently enrolled in TechTown's two-year SmartStart business accelerator program. Candidates receiving an HFL loan also will receive access to TechTown's compre- hensive entrepreneurial support system, which includes business coaching, men- toring, workshops and space for lease. Initially, loans will range between $1,000 and $25,000. "To truly help this community stabilize, we knew we had to reach out and become a part of something bigger than we are' said HFL Executive Director Mary S. Keane. "What is so important in start- ing our partnership with TechTown is its ability to deliver a package of resources all in one place to anyone with an entre- preneurial idea. TechTown offers us the greatest leap we've ever taken in helping our small business clients." TechTown Executive Director Randal Charlton says the collaboration with HFL adds another critical dimension to TechTown's ongoing efforts to develop a new class of homegrown innovators and leaders across Southeast Michigan. "The support from the Hebrew Free Loan comes at a critical time Charlton said. "We are particularly interested in offering young people who are seeking to develop their careers a real alterna- tive to leaving the state in search of their future. "By the end of 2009, more than 750 potential entrepreneurs will have com- pleted our training programs that have been funded by the foundations that make up the New Economy Initiative for Southeast Michigan. Many of these new entrepreneurs will need seed funding to establish their businesses. Hebrew Free Loan will be one important source of that financing." II December 24 • 2009 15