Welcome!

News Feed Item

University of Michigan's Zell Lurie Commercialization Fund Makes Two Investments

Pre-seed investments made in Michigan-based AdAdapted and AlertWatch

ANN ARBOR, Mich., Feb. 14, 2014 /PRNewswire/ -- The University of Michigan's Zell Lurie Institute at the Ross School of Business today announced that its student managed Zell Lurie Commercialization Fund has made two investments. The fund provided pre-seed investments to healthcare startup AlertWatch and ad tech start up AdAdapted. The collective investments total $90,000 and closed in November 2013 and January 2014, respectively. The deals mark the latest in a series of successful investments by the fund (formerly the Frankel Fund), which includes Accio Energy, Ambiq Micro and Are You A Human in its portfolio.

The Zell Lurie Commercialization Fund is a student-led, pre-seed investment fund established to identify and accelerate the commercialization of ideas generated within the University community and the surrounding area. A team of 25 graduate students manage the fund and are organized into four investment teams - health care, technology, consumer and cleantech investments. Each team may invest up to $100,000 per investment (in multiple installments) in entrepreneurial ideas with great potential and a vision for the future. The process provides action-based educational experience for MBA and other graduate students in early stage company formation and evaluation. The Zell Lurie Commercialization Fund is part of a trifecta of student-led venture funds offered at Ross, including the pioneering Wolverine Venture Fund and Social Venture Fund.

"The Zell Lurie Commercialization Fund is as close to a real-world investing experience as any MBA student could possibly receive," said Stewart Thornhill, director of the Zell Lurie Commercialization Fund and executive director of the Zell Lurie Institute. "Both of these investments demonstrate the strength of the local startup scene and represent the power of the greater U-M community to foster growth within the region. AlertWatch and AdAdapted both have tremendous promise to transform their respective industries and deliver a return on our investments."

U-M Spinout AlertWatch Aims to Increase Patient Safety
AlertWatch, Inc. is an Ann Arbor-based spinoff from the University of Michigan Health System that produces clinical decision support systems for hospitals. Founded in 2011, AlertWatch simplifies patient monitoring with intuitive products for operating rooms and intensive care units by displaying vital data to doctors in an easy-to-understand format that could help increase patient safety. AlertWatch was founded by Dr. Kevin Tremper and is led by CEO Justin Adams, a University of Michigan BSEE '01 and MBA '09.

"The Fund's investment in AlertWatch is a great example of the immense talent available here in the Ann Arbor area.  Not only do we have top notch technologies being developed here at The University of Michigan, but we also have management teams capable of growing and developing very impressive companies," said Chris Doughty, MBA '14 and the Zell Lurie Commercialization Fund student lead on the deal. "The opportunities for venture capital investments in Ann Arbor are immense and will continue to attract attention from venture capital firms around the country."

AlertWatch's close ties to the Ann Arbor area, their strong management team and the potential return on the Fund's investment make it an ideal investment. The Fund became aware of AlertWatch through its close relationship with U-M's Office of Technology Transfer (OTT), which also proved to be a valuable source of information during the due diligence process.  Since the investment was made in late 2013, AlertWatch has made significant progress on pilot testing, co-marketing partnerships and data showing improved health outcomes, and the company learned this month that it has achieved FDA 510k approval status, one of the key milestones outlined in the Fund's deal with AlertWatch.

Doughty also noted the benefits of the valuable educational experience from working on the Fund's investment. "As a student, I found the opportunity to work closely on a deal to be an extremely valuable experience. While conducting due diligence is critical when evaluating a deal, the investment team's relationship with the company is even more important. My biggest takeaways from this experience are to make sure you work well with the management team of the company you're investing in and to remember why you're investing.  If you believe in the company and its management team, your investment will be successful."

AdAdapted to Transform In-App Mobile Advertising
Ann Arbor-based AdAdapted offers a platform that automates the native advertising model for advertisers that want to reach mobile app users via dynamic, customizable, non-disruptive, product placement opportunities within mobile games and apps. With AdAdapted, advertisers can launch scalable, trackable, custom branded campaigns across a wide variety of apps without duplicating efforts with each publisher.  

The investment in AdAdapted marks the Zell Commercialization Fund's first investment in the rapidly-growing ad tech sector and was led by Ray Gallagher, MBA '14. Prior to this round, the year-old start-up received financing from the Michigan Micro Loan Fund in October 2012 and won the first place award of $2,000 in the New Business Ideas category of the Great Lakes Entrepreneur's Quest business plan competition at ACE '13.

Companies and individuals interested in obtaining funding from the Zell Lurie Commercialization Fund may find additional details about the application process on the Institute's website at www.zli.bus.umich.edu.  

About the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies
The Institute and its Center for Venture Capital and Private Equity Finance bring together a potent mix of knowledge, experience and opportunities from the front lines of entrepreneurship and alternative investments. The student learning experience is further enhanced through internships, entrepreneurial clubs and events that serve to provide viable networks and engage the business community. The School's three student-led investment funds, with over $6.5M under management, immerse students in the business assessment and investment process. Founding Board Members include Samuel Zell, Chairman of Equity Group Investments and Eugene Applebaum, Founder of Arbor Drugs, Inc. For more information, visit the Institute at www.zli.bus.umich.edu.

About the Stephen M. Ross School of Business
The Stephen M. Ross School of Business at the University of Michigan is a vibrant and distinctive learning community grounded in the principle that business can be an extraordinary vehicle for positive change in today's dynamic global economy. The Ross School of Business mission is to develop leaders who make a positive difference in the world. Through thought and action, members of the Ross community drive change and innovation that improves business and society.

Ross is consistently ranked among the world's leading business schools. Academic degree programs include an MBA, Part-time MBA (Evening and Weekend formats), Executive MBA, Global MBA, Master of Accounting, Master of Supply Chain Management, Master of Entrepreneurship, Master of Management, BBA, and PhD. In addition, the school delivers open-enrollment and custom executive education programs targeting general management, leadership development, and strategic human resource management.

SOURCE Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...