Southfield, MI (August 2024) -Imagine how much easier snow removal would be if, say, a robot could do it for you. What if a smart AI cutting board could help you plan, prep and execute more nutritious meals? These are the kind of cutting-edge ideas that Centrepolis Accelerator at Lawrence Technological University helps bring to life.

Since its inception, Centrepolis Accelerator has played a pivotal role in commercializing 209 innovative physical products. Oftentimes, these products begin as the seed of an idea in a solo entrepreneur’s mind. But as these entrepreneurs deep dive into the design process, they quickly realize how complex, intricate and overwhelming it can be to develop a product. That’s where Centrepolis Accelerator steps in.

Centrepolis Accelerator is a game-changer for hard tech startups and small businesses. It provides startups with the invaluable opportunity to partner with seasoned Experts in Residence (EiRs) who bring decades of experience in product design, engineering, materials, prototyping, testing and production processes. These experts don’t just give the entrepreneurs advice from afar — they roll up their sleeves and embed themselves in the startup companies, working side-by-side to help resolve issues, share knowledge and speed up the journey to market.

“Think about the value of having a 25-year veteran engineer on your team as you develop a product,” says Dan Radomski, CEO of Centrepolis. “One of our EiRs was in charge of all prototyping at General Motors. Having that level of expertise to tap into is unparalleled for a startup.”

One standout startup at Centrepolis Accelerator collaborated with 15 EiRs over five years, culminating in a successful launch of a medical device. The startup eventually gained so much market traction, a healthcare business offered to buy it. “It’s the ultimate Michigan success story,” says Radomski. “It not only provides value to the client, but also to the local supply chain.”

Lawrence Tech University  notes, “There is a gap in funding for these critical firms. The majority of early-stage funding and venture capital is dedicated to software-based businesses.” The Centrepolis Accelerator hopes to create an Equity Fund along with its Venture Studio in order to change that in Michigan.

If a new equity seed fund were created, it could invest $3.4 million over three years in 20 pre-seed business investments, resulting in the creation of at least 10 new companies, 30 products commercialized and 100 new jobs. The hope would be to provide up to $100,000 in cash to each hard tech company as an equity investment. These businesses could receive an additional $100,000 in Venture Studio product development services.

This marks the second grant the Walters Family Foundation has awarded to Centrepolis Accelerator, a testament to a growing partnership. With this new grant, Centrepolis Accelerator is gearing up to empower 20 new early-stage, high-tech Michigan manufacturing ventures. These entrepreneurs will benefit from mentorship by EiRs, gaining insight on everything from business strategy to capital financing and product development, design and engineering – all with the goal of making their dreams a reality.