Macomb-OU INCubator partners with Hennessey Capital

metromode, 10/1/2009

The Macomb-OU INCubator's pockets are getting a little closer to some funding now that Hennessey Capital is signing on as a partner.

The Huntington Woods-based financing firm will provide expertise but not necessarily funding to the start-ups at the business incubator in Sterling Heights. The city, Macomb County, and Oakland University are sharing resources to help the creation and growth of start-ups that will help diversify the Metro Detroit economy.

Hennessey Capital specializes in providing financing to small- and medium-sized firms so they can fund development or commercialization of new products. Many of the firms it supplies money to are based in Michigan.

Hennessey Capital will have a spot on the Macomb-OU INCubator's Investment Review Board, a panel that determines funding allotments to INCubator candidates. The INCubator concentrates on nurturing companies focused on defense and homeland security, advanced manufacturing, and alternative energy industries.

Source: Automation Alley
Writer: Jon Zemke