The Michigan Economic Development Corporation today announced the promotion of Biotech Venture Director Fredrick Molnar to Vice President of Entrepreneurship and Innovation, effective immediately.
“A vital and strong entrepreneurial ecosystem is, and must remain, a critical component of Michigan’s economic development strategy,” said MEDC Chief Executive Officer Steve Arwood. “Fred has 30 years of experience working in the private sector with life science companies, and his deep industry knowledge and entrepreneurial experience will help MEDC continue to provide a dynamic business environment for Michigan entrepreneurs and encourage investment into economic growth sectors.”
Molnar was named MEDC’s Biotech Venture Director in MEDC’s Entrepreneurship, Innovation, and Venture Capital division in September 2014. In that position he was responsible for oversight of the Michigan Life Science and Innovation Center in Plymouth and for setting the strategy to move the biotechnology and medical device segment in Michigan forward. Previously he served as Chief Commercial Officer at iCyt Mission Technology, a flow cytometry startup based in Champaign-Urbana that was a spinoff from the University of Illinois. iCyt was acquired by the Sony Corporation and was later renamed Sony Biotechnology, Inc.
Prior to that, Molnar worked as Director of North American Sales and Marketing for Beckman Coulter, and served on the Oversight Committee for the Coulter program at the University of Michigan’s Biomedical Engineering School.
Molnar has an associate’s degree in electronics from Henry Ford Community College, a bachelor’s degree in biology from Wayne State University and an MBA from Eastern Michigan University. Molnar previously served on the joint evaluation committee to select MEDC’s M-TRAC funded schools.