Ann Arbor Tech Startups Bring New Jobs
MyBuys Inc and Sakti3 are expected to create 362 new Ann Arbor Jobs
MyBuys Inc. provides personalized product recommendations to online reatilers’ customers. Currently based out of Redwood City CA, MyBuys intends to invest $5.4 million into an Ann Arbor presence. This will bring an estimated 250 jobs to the local workforce. CEO, Bob Cell, is a U of M graduate and lobbied for the tech firm to make the move. MyBuys recently secured $10 million in funding.
Sakti3 is a University of Michigan spinoff run by CEO (and U of M professor) Ann Marie Sastry. Sastry has not released many specifics about her company, however Sakti3 plans to infuse about $1.1 million into the Ann Arbor economy and create 112 new jobs. They hope to commercialize a manufacturing process in Ann Arbor for the development of high-power automotive batteries primarily for electric vehicles.
Both companies fit the bill for “knowledge-based” jobs that support a global economy. Each have already secured high-tech tax credits from the Michigan Economic Develop Corp. If these companies hit their goals, they would become two of the largest Ann Arbor companies in the alternative energy and IT sectors.
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December 29th, 2008 at 8:57 AM
[...] Ann Arbor’s high-tech industry is fueled by Ann Arbor Spark – a public/private venture providing pre-seed captital for tech companies in advanced automotive, manufacturing, materials, alternative energy homeland security, defense and life sciences. Ann Arbor Spark will fund up to $250,000 with matching funds from the entity for an equity stake in the return. Recently the Michigan Business Tax was also instituted providing tax credits based on income and gross receipts to help businesses reduce overall taxes. [...]