DETROIT — Weeks after reopening Detroit’s iconic train station, Michigan Central Station Detroit’s New Lab has announced that it has surpassed 100 members. Startup companies: Michigan Central, an open platform for innovation, and NewLab, a global venture Platforms partner to build an ecosystem that will shape the future of mobility We are working to re-establish Detroit as a global leader in innovation.
The new lab at Michigan Central Building will open in April 2023 and will be a key part of the 30-acre site. Central Michigan Innovation District — Initial cohort of 25 startups. To date: Michigan Central’s membership has grown to 106, with approximately 675 affiliated companies. Individual members representing mobility, transport, logistics and climate technology These startups come from across Michigan, the country and the world. The world – choosing to lead mobility innovation from Detroit.
“Michigan Central’s New Lab has grown much faster than we expected,” says Joshua Shireffman. “This is a testament to the power and potential of this economic engine,” Michigan Central’s CEO said. What we’re building in Detroit, and Bill Ford and Ford Motor Co. A vision to build an open platform ecosystem that taps into the region’s incredible talent “We will build on a tradition of innovation that will help solve many of the world’s challenges.”
The 270,000 square foot facility houses state-of-the-art prototyping and laboratories. Located in a special transportation innovation zone, it offers unparalleled real-world Conditions and fast-track permits for urban transport pilots help startups test safely It brings their technology into the real world faster and accelerates commercialization. More than 20 venture capital firms provide cutting-edge technology to investors Startups with access to capital, facilities and their own testing infrastructure New technology has enabled Michigan Central and NewLab to attract world-class startups Founder.
Let’s take a look at what Michigan Central and Newlab have accomplished together in just one year.
- Rapid growth in startup membership:
- 106 Startups Join: Michigan Central’s Newlab opened with 25 startups on April 25, 2023, and has grown 320% in just over a year since then.
- Startup membership is becoming more diverse.
- 41% are focused on mobility and 19% are focused on energy. The majority of Michigan Central’s Newlab startups are developing technologies that advance the mobility and energy sectors.
- Diverse Community: 53% of Newlab’s startups at Michigan Central have at least one female, Black or Latinx founder or CEO, helping to address the underrepresentation of women and people of color in the tech industry.
- Venture capital raised and deployed:
- Raised $688.58 million: Michigan Central’s NewLab member companies have raised a total of $688 million in venture capital funding.
- Allocating $150,000 to underrepresented founders: Michigan Central and NewLab, in collaboration with the State of Michigan, have launched a Founder Fellowship program that will provide five climate tech founders from underrepresented backgrounds with the resources they need to scale their startups.
- $1.3 million committed through the Scale Fund: Michigan Central launched the Scale Fund to help scale and pilot startups in Michigan, and in collaboration with Newlab, has awarded cash prizes to 12 startups so far.
- Successful pilot programs:
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Tech Faster: Michigan has already completed 22 pilot projects, with 10 currently underway or planned. These include:
- Auto Trucking Hub: The pilot focused on advances in autonomous truck technology by testing techniques that can address a problem known in the industry as “the last five feet.”
- Mythos AI in Port Monroe: The pilot deployed autonomous marine hydrographic survey technology to enhance port operations, mapping the depth of waters and ultimately establishing autonomous shipping routes to help prevent large ships from running aground and delaying commerce.
- America’s first public EV charging corridorMichigan Central, the City of Detroit and MDOT unveiled the nation’s first public electric roadway using technology from Newlab member Electreon.
- Advanced Aviation Innovation RegionCentered around this effort, Michigan Central’s NewLab is currently developing several pilot projects that will enable drone operations beyond visual line of sight (BVLOS) and push the boundaries of innovation in air mobility.
- Strengthening Detroit’s Mobility Heritage:
- By cultivating a community of innovators in the heart of Detroit, Michigan Central’s New Lab is strengthening the city’s historical legacy as the birthplace of the automotive industry while paving the way for future advancements in transportation technology.
These accomplishments highlight Michigan Central and NewLab’s commitment to advocacy. Detroit’s Deep Tech Startups and Driving Next-Generation Mobility Solutions And Michigan.
“I’ve been thrilled to see the rapid growth of New Labs in Detroit and Michigan Central. It’s a cultural hub, which proves that the work we’re doing together is creating a truly differentiated culture. “It’s a place to build a business, and founders are responding to that,” said NewLab CEO Cam Lawrence. “Hopefully we can get 100 more startups!”
About Michigan Central
Michigan Central is a 30-acre technology and cultural hub in Detroit that brings together leaders, thinkers, communities and Creators come together to accelerate the bold ideas and technologies that will shape our future. Michigan Central provides access to world-class infrastructure, tools and resources to innovators and Community members work together to find innovative solutions to global problems. As of April 2023, Michigan Central has grown into a diverse ecosystem with more than 600 employees from more than 100 countries and regions. Companies and startups operating at the intersection of mobility and society. Michigan Central Station It is set to open as the district’s centre in June 2024 and has already attracted tens of thousands of tourists. Celebrate and explore the history of how Detroit’s iconic old train station was transformed into a world-famous train station Destination. Learn more Visit michigancentral.com.
About New Lab
Newlab is a global venture platform for vital technology startups building a sustainable future. With a global network of innovation hubs, NewLab significantly reduces the barriers to commercialization. Connecting Industry, Infrastructure and Investment: Newlab Named Fast Company’s Design Company of the Year It includes over 1,000 entrepreneurs, partnerships with businesses and civil society organisations, and an active network. Investors work together to commercialize key technologies. To date, NewLab has helped over 100 companies The company has helped more than 300 member companies raise more than $5.8 billion from venture capital firms. It boasts over $2.3 billion in successful exits and a combined valuation of over $20 billion. home page To learn more.
