Shining a spotlight on Startup City USA, Ann Arbor SPARK is a regional private-public economic development partnership that has created one of the most successful areas of innovation in the United States over the last eleven years. One aspect of SPARK’s strategic plan is to help technology entrepreneurs gain access to the resources that they need to grow in to successful ventures. The organization encourages and supports business acceleration, attraction, and retention. Beyond just startups, Ann Arbor SPARK proactively identifies and meets the needs of business at every stage, including leading global companies.
For the very earliest stage businesses, SPARK offers networking events, educational events, boot camp, and accelerator services. The organization manages two business accelerators in the region with room for startups as well as second stage businesses.
With its team of mentors and consultants, SPARK addresses specific business challenges, such as intellectual property or marketing or accounting. It offers microloans to help companies take advantage of growth opportunities. Plus, there’s a large network of support for entrepreneurs here: If they need a service that SPARK doesn’t provide, there’s no doubt they can find it in this region.
Ann Arbor has an incredibly deep talent pool, and businesses of all sizes can access the organization’s talent services that connect employers and potential employees. Ann Arbor SPARK helps growing businesses gain access to this talent through specialized unique programs. Companies like Nutshell, Duo Security and TD Ameritrade have found a world-class developer or engineer right here in this region through SPARK.
The results of SPARK’s efforts are impressive. In 2015, Ann Arbor SPARK successfully achieved:
- Business attraction and retention of 37 successful projects, resulting in $130 million in new investment commitments and 891 jobs announced in the region
- Assistance to 266 startups, and incubation of 77 startup companies
Ann Arbor SPARK president and CEO Paul Krutko, who contributed a chapter to IASP’s recently released book, Areas of Innovation in a Global World: Concept and Practice, explains what makes Ann Arbor a thriving area of innovation and the impact of that work.
“There’s something special in this region that fuels the growth of companies like Toyota’s North American Research facility in this new era of new mobility technologies as naturally as a two-person startup,” said Krutko. “Ann Arbor SPARK’s focus is growing our economy by ensuring that at every step along the way, these businesses have access to the resources, advice, and support they need.”
“These growing companies have broad economic impact. They’re growing our GDP by selling goods and services outside our region, and bringing wealth and revenue back to our community,” explained Krutko. “If we grow these companies, it creates opportunities for other local businesses – including service providers, retailers, and restaurants. Combined, we’ve created a thriving area of innovation as well as a robust, multi-layered economy.”
“The bottom line results of this effort speak for themselves: People are back to work in our region at a rate that consistently outpaces the U.S. economy, companies are leasing more and more space, and our taxable real estate values have returned to what they were before the recent recession,” Krutko added.
