History and impact

The Initiative was formed in 2003 as a collaboration between the Van Andel Research Institute, Grand Valley State University, the City of Grand Rapids, Grand Rapids Community College and the Right Place, Inc. The goal was to support the development of high-technology business start-ups within the Grand Rapids SmartZone^SM. The collaboration has since expanded to include Spectrum Health, Saint Mary's Health Care, Mary Free Bed Rehabilitation Hospital and the Grand Angels. The Initiative's mission has grown to accommodate the region's growth in life science, technology and other high-growth industries.

Since its inception, the Initiative has:

Opened the region's only high-tech incubator space dedicated to life science and medical device development, which has housed 12 tenants, created 650 high-technology jobs in West Michigan and is responsible for more than $100 million in total investment
Counseled more than 740 clients. In 2008 alone, the Initiative provided counsel to more than 300 inventors, entrepreneurs and small businesses
Assisted clients in securing more than $16 million in federal and state grant funds
Worked with a client to successfully license their first product to a $13 billion global company
Provided services which supported a company receiving an investment of $60 million from a private equity firm
Launched Idea Cycle, which supports the development of innovation and commercialization infrastructure and intellectual property policy and process with regional health care providers and educators
Completed technology and business assessments for investor groups
Launched the West Michigan Medical Device Consortium, the only organization in the state of Michigan dedicated to medical device design, development, manufacturing and distribution
Launched Entrepreneurs Anonymous