HRV plays a critical role in Michigan’s innovation ecosystem by helping entrepreneurs and technologists develop and commercialize their ideas and create sustainable businesses.
From University Tech Transfer to Incubators, HRV’s core strength is working with entrepreneurs and technologists at the “origination” stage, when an idea is on the brink of a major breakthrough, but in many cases a company has not been formed, capital raised, or revenue generated.
HRV will frequently invest the first round of outside investment in a company, which enables HRV to work very closely with the company’s executives and board to set its strategy and catalyze its growth. HRV adds unique value in this regard because its Principals have been successful entrepreneurs and investors and can help entrepreneurs minimize the time to market and avoid costly mistakes.
Michigan has the human, intellectual, and capital assets to play a major role in emerging global high tech markets.
- Nation’s 4th largest high-tech workforce
- Nation’s 3rd largest engineering graduate population
- 15 four-year universities and more than 50 independent colleges award more than 6,500 engineering degrees annually, the 3rd highest in the country
- Home to more than 330 automotive R&D centers
- Home to U.S. Army’s R&D and Engineering Center (TARDEC) and TACOM, focused on effective armaments and munitions for a lean, lethal and survivable workforce
- Nation’s 3rd highest in patents granted and 4th in technology licenses
- Nation’s 3rd largest manufacturing state
- Home to a majority of the top automotive Tier 1 suppliers
- Location of 9 of 10 top automotive OEMs developing Hybrid Electric, Plug-In Hybrid Electric and Electric Vehicles
Source: Michigan Economic Development Corporation, University Research Corridor