Detroit Materials, Inc., a Wixom-based advanced materials firm focused on the commercialization of ultra-high performance structural cast steels, has been accepted into Automation Alley’s new entrepreneurship program, the 7Cs™. As a client company, Detroit Materials 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 7Cs™ program in December with a specific emphasis on helping advanced manufacturing startups across Southeast Michigan. Detroit Materials provides ultra-high-strength low-alloy cast steels for to the defense, off-highway, tooling and transportation industries.
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 very excited to participate in the Automation Alley 7Cs™ program,” said Pedro Guillen, Detroit Materials CEO. “The program structure and the team making it work guarantees success for our company and the growth of the advanced manufacturing ecosystem in Southeast Michigan.”
“Detroit Materials creates steel with an average 40 percent lower material cost and similar properties to exotic alloys such as boron, nickel and cobalt,” said Tom Kelly, Automation Alley’s director of entrepreneurship. “They are poised to change the industry in a very constructive way, and we are delighted to be a partner in their success through our 7Cs™ program.”
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 Detroit Materials, visit www.detroitmaterials.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