Automation Alley, Michigan’s largest technology business association, recently accepted Jacar Systems, LLC into its 7Cs™ entrepreneurship program. Jacar is the 8th company to join the program, taking advantage of a powerful suite of services and valuable expertise designed to help advanced manufacturing companies grow.
Automation Alley launched the 7Cs™ program in 2014 with a specific emphasis on serving advanced manufacturing startups across Southeast Michigan. The program includes intense coaching and a commitment from Automation Alley to invest resources and capital.
“Jacar Systems is an exciting addition to the 7Cs™ portfolio,” said Automation Alley COO Tom Kelly. “Existing customers love Jacar’s product offerings, and that kind of market validation serves as a promising foundation for what is sure to be significant growth ahead.”
Based in Fair Haven, Mich., Jacar develops transfer systems for sheet metal stamping companies. Dubbed “the greatest thing to hit metal stamping since in-die tapping,” the company’s patented Micro Transfer™ Systems are known for saving materials and tooling costs while minimizing the overall footprint by 75 percent.
“We were looking for a partner that could take an energetic role in the growth of Jacar Systems. We needed a company or program that would help accelerate the growth path that we have been experiencing,” said Robert Gunst, president of Jacar. “We specifically like the educational structure that the 7Cs™ presented and the fact that the program was designed for entrepreneurs in the manufacturing sector.”
In addition to coaching and funding, the Automation Alley 7Cs™ program includes 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.
Source: Automation Alley