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Tuesday, October 05, 2010

Bank Of Ann Arbor To Financially Back Wayne State's TechTown

ANN ARBOR Bank of Ann Arbor's Technology Banking Group will provide working capital to the best and brightest start ups nurtured at Wayne State University's TechTown.

"Detroit's TechTown is one of the nation's leading business incubators and an important catalyst for Detroit's new economy," said Michael Cole, Group President of Bank of Ann Arbor's Technology Banking Group. "Bank of Ann Arbor is dedicated to supporting regional economic development collaboration and high growth, innovation-based businesses. This partnership makes perfect sense for Southeastern Michigan."

TechTown Executive Director Randal Charlton said the news is particularly welcome considering that many large banks have been scaling back their commitment to Detroit over the last several years.

"By taking the opposite approach, the Bank of Ann Arbor will be positioned to get a first-hand view of the wide range of new technology that is being developed at our various research institutions in our city as well as by entrepreneurs at TechTown," Charlton said. "The bold leadership that the bank has displayed in supporting entrepreneurs will enable them to provide financial services to the best of our emerging high technology companies, and to grow and prosper along with Detroit over the next decade."

For more information, click on TechTownWSU.Org


Author: Staff Writer
Source: MITechNews.Com

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