By Jeff Karoub, U-M News Service FACULTY Q&A Steve Wilson When the full story is written about how the COVID-19 pandemic rocked industries and economies, small-to-mid-sized businesses will certainly encapsulate the struggle, endurance, resilience on a human scale. The University of Michigan’s Economic Growth Institute helps many such enterprises work through this crisis, as they did during the Great Recession more than a decade ago. Institute Associate Director Steven Wilson discusses some of what he and his colleagues are [read more]

By Greta Guest, U-M News Service Original posting: https://news.umich.edu/retool-revive-u-m-helps-defense-manufacturers-pivot/ ANN ARBOR—As defense contractors throughout the Midwest lost work because of federal budget cuts, many were at a loss about what to do next, including Sean Hilbert, CEO of Cobra Aero, a rural manufacturer in Hillsdale, Michigan. Hilbert, whose main business is making youth competition motorcycles, heard that the drone business was in dire need of a qualified engine manufacturer. He heard stories of expensive failures caused by [read more]

Blog post by ELP Student Hayley Vassallo (Business Administration | Class of 2021) Interning at the University of Michigan Economic Growth Institute Instead of working directly for a startup, I am helping the Economic Growth Institute decide which startups to invest in. A typical day consists of early stage startups coming in to pitch their ideas, and then we conduct our own market research and analysis to determine the potential for each startup. These pitches have helped me see [read more]

Cavities are the great unifier. According to a comprehensive study by the Center for Disease Control and Prevention, 90% of adults in the U.S. have or have had a cavity, while 1 in 4 has untreated cavities. What if there was a way to simultaneously identify and treat cavities before they fully form? Dr. Steven Bloembergen, founder of GreenMark Biomedical Enter GreenMark Biomedical, a Michigan healthcare startup founded in 2016 by Dr. Steven Bloembergen.  Collaborating with University of Michigan researchers, GreenMark [read more]

Universities and federal laboratories are the cornerstones of American innovation, developing new products that address important societal issues and drive economic growth. The University of Michigan, with support from the U.S. Department of Commerce’s National Institute of Standards and Technology, studied public research universities across North America to identify best practices for bringing new products to market. The findings aim to improve national competitiveness by providing universities with a practical roadmap on how to translate research from the lab [read more]

Former research associate Nour Arafat discusses her experience in product development with class. The Economic Growth Institute launched its first course this semester teaching students the fundamentals of how to evaluate a company and strategize its growth opportunities.  Titled “Re-imagining companies”, the course is offered in partnership with the Center for Entrepreneurship.  During the semester, students are led through the process of evaluating a firm, exploring its market environment, interviewing its leaders, and presenting recommendations for business improvements.  Students are taught the same [read more]