Software firm uwemp shares in $104K microloan pot

Software companies from different ends of Metro Detroit have taken two of the three microloans available in the latest round of funding from the Michigan Microloan Fund Program.

Software firm uwemp and KnowledgeWatch of Ann Arbor are splitting $104,000 with AWGET in Okemos. The microloans will support commercialization of their products.

"It's nearly all going into technology development," says Jordan Wolfe, CEO of uwemp. The firm splits time between Wolfe's base in Bloomfield Hills and Ann Arbor's Tech Brewery.

Its main product is Confidence-Based Learning, a web-based learning engine that uses Google Analytics-style method that gives educators a better handle on how their students are and are not learning. For instance, the program will show when a student is beginning to catch on to the lesson and when the student masters it or even when the student wanders off. The idea is to provide educators with the pertinent information to best reach their students.

KnowledgeWatch is developing software that aggregates, analyzes and sorts content in a way that is similar to Google searches. Among its target market are assemblers of trade publications or hobby sites (which number in the tens of thousands).

The microloans provide funding for start-ups to use for product commercialization and business growth. The $1.5 million program will make anywhere from 2-4 loans of a few thousand dollars each per month for 2010. That's another 24-48 fledgling local businesses receiving financing during a time when capital for small businesses is almost non-existent.

Source: Ann Arbor SPARK and Jordan Wolfe, CEO of uwemp
Writer: Jon Zemke

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uwemp
Detroit, MI 48202 Website

Software firm uwemp shares in $104K microloan pot

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