Lighthouse Molding Inc., a Sterling Heights-based technology leader in low pressure overmolding to encapsulate and protect electronic assemblies, has been accepted as the first client of Automation Alley’s new entrepreneurship program, the Automation Alley 7Cs. As a client company, Lighthouse Molding will receive assistance and guidance from Automation Alley’s entrepreneurship team to help accelerate the growth of their company.
Automation Alley, Michigan’s largest technology business association, launched the Automation Alley 7Cs program in December with a specific emphasis on helping advanced manufacturing startups across Southeast Michigan. With help from Automation Alley’s entrepreneurship experts, client companies are guided through a customized seven-step process that starts with the conception of their technology and leads to commercialization. The program includes intense coaching and a commitment from Automation Alley to invest resources and capital.
“We are counting on the Automation Alley 7Cs program to provide assistance with steps we need to grow as a company and guidance in managing our growth,” said Scott Reisfield, Lighthouse Molding’s chief marketing officer. “We view Automation Alley as a forum to connect to people and organizations effectively.”
Reisfield said Lighthouse Molding’s low pressure overmolding technology encapsulates electronics that protect valuable components against dust, dirt, moisture, humidity, shock and vibration.
“I’d like to welcome Lighthouse Molding to Automation Alley 7Cs, the first program of its kind in Michigan,” said Tom Kelly, Automation Alley’s director of entrepreneurship. “Using low pressure overmolding, Lighthouse Molding protects electronic assemblies while generating cost savings, product performance improvements, better reliability and production efficiencies. They are a terrific fit with our Automation Alley manufacturing members.”
The Automation Alley 7Cs program includes additional features to help client companies gain traction and first customers. The 7Cs First Look is a collection of two-minute sales videos that promote each 7Cs client company and showcase their products and services. The videos give potential customers a “first look” at the innovative products and services offered by the technology startups.
Through the 7Cs First Match, Automation Alley has partnered with more than 20 local chief innovation officers at major automotive and manufacturing suppliers to present technologies developed by 7Cs participants, giving the suppliers access to innovations that could take their businesses to the next level and giving entrepreneurs exposure and access to potential business opportunities.
Automation Alley has partnered with a number of respected vendors throughout Southeast Michigan to offer specific training opportunities and resources to clients in the 7Cs program, including Sandler Sales Training, icube™, Brooks Kushman, Doeren Mayhew and P3.
The program includes a $25,000 directed investment from Automation Alley in each company accepted into the program. The $25,000 is used to cover the costs of the program. Companies accepted into the program are required to repay the $25,000 at the end of two years, thus making the funding available for investment in additional companies.
There is also an opportunity for each of the accepted companies to receive up to an additional $100,000 in investment from the Automation Alley Pre-Seed Fund after they complete the program. Companies complete the program at their own pace but are expected to accelerate to commercialization within 12-24 months.
The Automation Alley 7Cs program is funded by the Michigan Economic Development Corporation.
For more information on Lighthouse Molding, visit www.lighthousemolding.com.
For more information on the Automation Alley 7Cs program, or to apply, contact Automation Alley at 800-427-5100 or email@example.com.
Source: Automation Alley