ePrize, a global marketing leader in digital engagement, today announced the acquisition of Bulbstorm, an innovative software platform that allows for the production of fast, simple high-volume promotional executions across Facebook and mobile devices. This, coupled with ePrize’s robust promotional, loyalty and mobile CRM technology, further extends the capabilities of the industry’s leading customer engagement platform currently used by more than 50% of the Fortune 500 brands.

Founded in 2007, Bulbstorm has worked with brands such as Intel, NBC, and the WWE, as well as worldwide agencies to create promotional campaigns leveraging user generated content, social connections, content moderation and games. The acquisition of Bulbstorm enhances ePrize’s mission of changing the way brands interact with consumers. ePrize leverages its unified technology platform to actively engage consumers across all channels along the path to purchase, using promotions to spark interest, loyalty programs to retain and reward, and mobile CRM to connect the consumer’s online and offline experiences.

“This is the fourth acquisition we have made in the last 20 months to enhance our ability to bring best in class, integrated marketing solutions to our clients and their consumers through both technology innovations, superior creative and analytics,” said Matt Wise, CEO of ePrize. “Bulbstorm has an innovative and flexible technology for creating and deploying multi-screen engagement promotions. Combining this technology with our loyalty, gaming, and mobile CRM offerings creates the most advanced customer engagement solution available in the marketplace.”

Headquartered in Detroit, ePrize now has 400+ full-time employees across eight offices including New York, Chicago, Nashville, Los Angeles, San Francisco, Phoenix, and Seattle.

About ePrize, Inc.
ePrize is a global leader in digital engagement. The company’s multi-channel solutions enable the world’s largest brands to create a dialogue with consumers from web and social to mobile and retail, all the way to point of sale and in-venue experiences — all on a unified technology platform. More than 50% of the Fortune 500 brands and many world-class agencies rely on ePrize’s creative, technology and legal services. ePrize has created promotional campaigns, CRM programs and loyalty solutions in 44 countries for clients such as Coca-Cola, Microsoft, The Gap, Lenovo, NHL, Yahoo!, P&G and AT&T. Learn more at eprize.com or text CRM to 35350 for mobile demos and alerts.

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The Michigan Economic Development Corporation today announced Michigan Strategic Fund investments of $2.76 million into six growing technology companies through the Pure Michigan Venture Match Fund.

“Innovative early-stage companies often need venture capital to help finance critical stages of their development and commercialization,” said Gov. Rick Snyder. “We are confident that by co-investing in these companies, all of which have secured private investments, we are bridging a capital gap and helping entrepreneurs develop promising technologies to grow into new innovation companies.”

In April 2012 the Pure Michigan Venture Match Fund opened for applications from Michigan companies that have secured an equity investment commitment led by a qualified venture fund. The program uses a market-driven approach to co-invest alongside qualified venture capital firms in early stage technology companies that are based in Michigan. While only companies based in Michigan are eligible to apply, the program can match investments from both in-state and out-of-state venture funds.

From the total of $5 million that was initially available for this round of funding, the MSF has approved $2,762,500 in matching investment dollars into six companies: Amplifinity, Gema Diagnostics, Livio Radio, nanoRETE, Stik and Tissue Regeneration Systems. The MSF matching funds leverage $7,275,000 in private investment dollars.

“One of these companies, Stik, just announced it has closed a $2.3 million Series A financing round, and we’re excited to be a part of this round of investment with Stik,” said MEDC President and CEO Michael A. Finney. “This is a perfect example of why we are willing to co-invest through our Pure Michigan Venture Match Fund alongside venture capital funds in our promising companies.”

Stik, a Detroit-based local review website for professional services, made its fundraising announcement on the heels of the company’s move from San Francisco to downtown Detroit’s emerging tech hub. Stik will use the latest round of funding to add some key hires to its team, which has more than doubled in the past six months. MEDC highlighted Stik in its recent national business advertising campaign (“What happens when left coast meets right fit”).

The remaining Pure Michigan Venture Match funds will be awarded to eligible companies as long as funds are available. Companies are only allowed to apply for MSF funding once they have secured a qualified venture-led investment. The program requires an independent peer review of the company and its investors in the application process, and a $1,000 application fee is due once the review confirms that the application meets the required minimum guidelines. The minimum venture-led investment that will be considered is $700,000 and the maximum is no more than $3 million. The co-investment from the MSF is no less than $350,000 and no more than $500,000, with similar investment terms as the venture-led commitment.

Summary of Approved PMVMF Companies

Amplifinity (Ann Arbor) – Amplifinity is a pioneer in the development of social marketing platforms. Its Advocacy Management Platform (AMP) is used by enterprise-level companies to generate social behavior by mobilizing customers, employees and third-parties to refer new customers, endorse products, and amplify marketing messages. With AMP, brands are able to acquire customers at a fraction of the cost of traditional channels, thereby increasing revenue, retention, and profitability.

Gema Diagnostics (Ann Arbor) – Gema develops non-invasive solutions to dramatically improve in vitro fertilization (IVF) outcomes. The Company’s flagship product, the GemARTvia test, will enable clinicians to determine which embryos have the best chance of becoming a baby. Gema technology emerged from pioneering research conducted at the Michigan State University Cellular Reprogramming Laboratory, the Yale University School of Medicine, and the Oxford University Institute of Reproductive Sciences under the leadership of Dr. Jose Cibelli and Dr. Dagan Wells, two leading scientists in reproductive technologies.

Livio Radio (Ferndale) – Livio is getting Smartphone applications into factory head units with Livio Connect, a middlewear API that acts as a common language between applications and hardware so they can communicate securely. Additionally, as soon as consumers roll off the lot with new cars, the car stereo will continually receive new updates and apps as they come out thanks to Livio’s firmware over the air transfers (FOTA) available in Livio Connected hardware. Most recently, the company announced getting TuneIn into the 2013 Chevy Spark using Livio Connect.

nanoRETE (Lansing) – nanoRETE, Inc. is an early stage company that is developing technologies to provide real-time detection of pathogens and toxins using customized, proprietary nanoparticle based biosensors. The company is developing products that can test for single or multiple pathogens/ toxins using a simple-to-use device that can generate rapid screening results in a very cost effective manner. Initial applications of the technology are targeted toward food safety in the food industry, military and homeland security. nanoRETE’s technology base is the result of research conducted at Michigan State University and the company has acquired an exclusive license to an extensive patent portfolio for worldwide commercialization.

Stik (Detroit) – Stik.com is using Facebook to bring word-of-mouth recommendations for local businesses online. Stik helps small businesses build their reputation and helps consumers discover small businesses recommended by their friends. The co-founders of the company, Nathan Labenz and Jay Gierak, are originally from Detroit and met shortly before attending Harvard together. Originally founded in San Francisco and funded by Silicon Valley investors, the company returned home in 2012 to the M@dison Building in downtown Detroit to be a part of the city and state’s technical renaissance.

Tissue Regeneration Systems (Ann Arbor) – Tissue Regeneration Systems (TRS) is a start-up medical device company commercializing a breakthrough skeletal reconstruction and bone regeneration technology platform licensed from the Universities of Michigan and Wisconsin. Its technology has been evaluated in several large animal studies with very promising long term results. The company has conceptualized initial product offerings, completed all required bench and animal testing, and filed its first regulatory submissions to the FDA. Approval of these submissions will allow TRS to commercialize products in the United States, and the company expects to begin generating meaningful revenues in the next two to three years.

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The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of $6 million in funding for entrepreneurship and innovation programs as well as Michigan Business Development and Community Revitalization program incentives to eight companies that are expanding in the state. The eight expansions are expected to generate up to $95.8 million in new capital investments and add 789 new jobs in Michigan.

“Today’s Strategic Fund actions will mean new investments in university programs to commercialize the results of their research and business expansions across Michigan that, taken together, will promote greater economic opportunities for our businesses and citizens,” said Governor Rick Snyder. “These new investments in our state will strengthen our communities and fuel new opportunities for our talented workforce.”

Michigan Translational Research and Commercialization Program – The MSF approved $6 million for innovation and entrepreneurship projects through the Michigan Translational Research and Commercialization Program. M-TRAC is funded by the 21^st Century Jobs Fund to create high-tech jobs through commercialization of university research and creation of university spin-offs in focused areas. MTRAC uses the nationally recognized Coulter Process to translate innovations into economic value.

The MSF approved the following awards for research commercialization:

• Michigan State University: $1,092,500 for agro-biotechnology and bioprocessing.
• University of Michigan: $2,415,000 for life sciences.
• University of Michigan: $150,000 for a pilot project in advanced transportation.
• Michigan Technological University: $517,500 for advanced applied materials.
• Wayne State University: $100,000 for a commercialization roadmap review (first tranche) with the possibility of receiving an additional $1,073,000 upon a revised proposal.
• Western Michigan University: $50,000 for a commercialization roadmap review.
• Eastern Michigan University: $50,000 for a commercialization roadmap review.
• MEDC: $552,000 for an incentive fund to reward the early commercial successes coming out of the M-TRAC programs.

The Michigan Strategic Fund today approved incentives for the following business expansions:

A $1 million Community Revitalization Program performance-based grant has been awarded to 614 First Street Partners, LLC to renovate the former Miller Products Corporation factory into headquarters for the Rockford Construction Company in the City of Grand Rapids. The project will transform the approximately 70,000 square-foot industrial building into corporate offices, a general trades yard and warehouse, commercial retail space for lease, an open-air courtyard and a community room. The project is expected to generate a total capital investment of up to $7.9 million and retain approximately 85 permanent full-time jobs. The City of Grand Rapids has approved a Brownfield Plan to assist in addressing brownfield issues.

Baker Aerospace Tooling and Machining specializes in producing complex three-dimensional prototype parts and tooling for the aircraft, military and automotive industries. The company plans to expand inMacomb Charter Township, investing $9.86 million and adding 188 jobs. As a result of the expansion, Baker has been awarded an $800,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Florida. Macomb Charter Township has offered a seven-year Tool & Die Recovery Zone valued at $766,000 in support of the project.

Black & Veatch Corporation is a leading global engineering, consulting and construction company specializing in energy, water and telecommunications. The company has more than 9,000 employees and more than 100 offices worldwide, with 266 employees currently in Michigan. Black & Veatch is expanding its energy and telecommunication services sectors in the City of Ann Arbor. The company plans to invest at least $13.5 million and add 75 jobs, resulting in $435,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Arizona, North Carolina and Minnesota.

Grand Rapids Downtown Market Holdings, LLC is constructing a 25,000 square foot market on multiple parcels in the City of Grand Rapids. The project will include indoor areas for a multi-vendor, year-round fresh food market, and space for a seasonal outdoor farmers’ market and other food services. On-site surface parking will be provided, and machinery and equipment investments are related to outfitting kitchen and retail areas. The project will generate a total capital investment of approximately $30 million and create 295 new jobs. As a result, the project has been awarded a $3,000,000 Michigan Community Revitalization Program loan. The City of Grand Rapids is offering support to the project in the form of public infrastructure improvements valued at $4.7 million, and the Grand Rapids City Parking Commission has contributed $400,000 to the project.

Heart of Howell, LLC plans to fully renovate three historic properties in downtown Howell to prepare them for retail, office and commercial space. The project is expected to generate investment of $2.5 million and create 19 full-time jobs. The project has been awarded a Community Revitalization Program performance-based grant of $375,868. The City of Howell is providing support in the form of a DDA Façade Grant valued at $58,000 and a 12-year Obsolete Property Rehabilitation Abatement valued at $94,196.

Herbruck Poultry Ranch, Inc. is a family owned egg producer in Ionia County. The company has opportunities to expand its egg production and processing facilities, investing up to $17.2 million and creating 55 jobs. As a result of the expansion, Herbruck has been awarded a $500,000 Michigan Business Development Program performance-based grant. The Lakewood Wastewater Authority is offering to waive the sanitary sewer connection fee of $405,000.

Parkland Muskegon, Inc. plans to renovate one of the only remaining buildings left of the structures that formerly comprised the downtown Muskegon Mall. The eight-story building will be converted into a residential apartment development, along with the construction of two-story addition to provide additional residential units. Improvements will include landscaping and parking lot for residents. The project will generate a total of $10.7 million in total capital investment and create two full time jobs, resulting in a $1.95 million Community Revitalization Program performance-based loan.

Two Men And A Truck is the first and largest local moving franchise system in the United States, offering a full range of home and business moving services. The company has the opportunity to grow its number of franchise locations and plans to expand its corporate headquarters in Delhi Township, which will include support departments such as customer care, franchise business consultants, training and development, service desk and a call center.  The project will generate a total capital investment of up to $3.95 million and create 125 new jobs over the next five years. As a result of the expansion, the company has been awarded a $350,000 Michigan Business Development Program performance-based grant.

“Today’s projects all mean more jobs and greater economic opportunities for people across Michigan,” said MEDC President and CEO Michael A. Finney. “In the last two years we have greatly improved Michigan’s business climate and infrastructure, creating new paths to business growth, and these changes are showing strong results.”

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InvestMichigan! Program co-managers Beringea and Credit Suisse’s Customized Fund Investment Group announce the $180 million Michigan Growth Capital Partners II, L.P.

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Grow Michigan, LLC (Grow MI), a unique collaboration of the Michigan banking community, Michigan Economic Development Corporation (MEDC) and the Michigan Strategic Fund, today announced the completion of its initial round of capitalization and commencement of investing operations.

Grow MI, with capital investment by leading members of Michigan’s banking community and the Michigan Strategic Fund, provides top tier strategic management advice and attractively priced risk capital in the form of subordinated/mezzanine debt to Michigan’s small businesses. This unique initiative and product offering extends the capabilities of senior debt providers by offering a highly efficient, cost effective and complimentary risk capital infusion for growing Michigan small business in a broad range of industries. Grow MI mezzanine loans, made in conjunction with senior loans, will be in the $0.5-$3.0 million range in the form of 3-5 year subordinated debt, and carry a single digit coupon.

In addition to the Michigan Strategic Fund, commercial and community banks that have invested in Grow MI’s initial close are Fifth Third Bank, PNC, Huntington, The Private Bank, Crestmark Bank, Seaway Community Bank, The Bank of Holland, The Bank of Northern Michigan, and Mercantile Bank.

Grow MI’s mission is to accelerate growth and capital investment in some of Michigan’s most promising small businesses. This will deliver job creation and improve the business climate in Michigan.

“Small businesses are job creation engines and our work to make cost effective risk capital accessible to Michigan companies means real potential for immediate job growth,” said Michael A. Finney, MEDC president and CEO. “Grow Michigan demonstrates the genuine leadership,
cooperation, co-investment and policy support that our commercial banking partners have provided throughout truly difficult times. They are stepping up to the plate and making a difference.”

Grow MI’s founding Members include Russell C. Youngdahl Jr., David L. Treadwell, Henry J. Brennan III and E. Mark Gregory III. Messrs. Treadwell, Brennan and Youngdahl serve on the Grow MI Board of Managers with Mr. Treadwell serving as Chairman, and Mr. Gregory chairs the Grow MI Investment Committee. Mr. Youngdahl also serves as CEO of Grow MI.

“The founding Members of Grow Michigan have been involved in working with, and addressing, the capital needs of small businesses in Michigan for decades,” said Mr. Russell Youngdahl. “It is, simultaneously, the single greatest catalyst for sustainable economic and employment growth while being highly underserved by capital providers. We understand the opportunity to enhance the growth of jobs in Michigan and look forward to working with the MEDC and our investors to move Michigan forward. The leadership demonstrated by our Investor Bank Members demonstrates their commitment to growing both their small business activities in the State and their support of Michigan, in general.”

The Grow Michigan Board of Managers also includes representation from the Michigan Strategic Fund and the Michigan banking community.

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With it’s third acquisition in 18 months, this morning ePrize announced the acquisition of Mozes, a mobile company that engages audiences during concerts, sporting events, and live television broadcasts through social and location-based experiences. EPrize continues the growth and expansion of ePrize capabilities, as this is the third acquisition for ePrize within 18 months.

About Alex Southern

Alex Southern is a Detroit based Marketing Executive with Midcoast, a leading 3D Studio. Formerly, he served as Associate Editor of DBusiness, a leading business publication, where he reported on emerging Detroit startups and technology-based companies.

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