What educational, entrepreneurial or business development programs, if any, have you taken advantage of?
The company was the beneficiary of the MVCA's Entrepreneur-in-Residence (EIR) program in that the President/COO was an MVCA-EIR at Venture Investors prior to joining HistoSonics. The technology that the Company is based on was developed at the University of Michigan, supported in part by Coulter Foundation funding, a program that supports university-developed technologies dedicated to translating technology to patient care.Where did you find your first employee?
Our first two employees, outside of the management founders, were both individuals our CTO had worked with previously.Have you promoted an intern to employee status, and if so how many times have you done it?
No.Where have you turned to find capital to grow your company and which institutions have provided it?
We are fortunate to have a group of venture investors who invested in our Series A financing and are supporting us with funding, business experience and connections. The syndicate includes: Venture Investors, Hatteras Venture Partners, Fletcher Spaght Ventures, Early Stage Partners and T-Gap Ventures.What are some of the advantages to doing business here?
With our technology coming from the University of Michigan, it has been so important to being in Ann Arbor and continuing the collaboration with the university team. Ann Arbor has also been a rich source of talent for us as well as a great place to find other supporting resources, such as space, consulting, human resource benefits/insurance, etc.It's often said that Metro Detroit and Michigan need to reinvent their economies to be competitive. Are we making those changes, and if so are we making enough of them or doing it fast enough?
Yes, I think we are making those changes, especially in the area of creating more of an entrepreneurial mindset. There are a number of programs focused on entrepreneurialism to help in this shift. In addition, the state of the economy is such that people more willing to take a risk, learn new skills and move out of their comfort zone.