Troy, Mich., May 23, 2011 – Stage 2 Innovations, in partnership with Automation Alley, is pleased to introduce a $100 million investment fund available to second-stage companies. Stage 2 Innovations LLC has teamed up with Automation Alley to identify companies in need of capital to accelerate the large-scale commercialization of innovative, patentable technologies for the global market.
A highly successful, experienced investor has anonymously provided the financial capital for the Stage 2 Innovations Fund. The investor, along with Tom LaSorda, former CEO of Chrysler, are the co-founders of this investment fund. Simon Boag will be the Chief Executive Officer of Stage 2 Innovations LLC.
“I am extremely excited to be working alongside our investor, who has years of successful start-up experience,” said LaSorda. “Together, we are devoting our time to help commercialize anything new and big.”
The goal of this fund is to make a significant impact in the global market while fulfilling a critical need for second-stage funding in the entrepreneurial community. Second-stage companies are one of the key sources for job growth in the current economy.
“The State of Michigan has a strong tradition of rich talent and innovative ideas, and this fund brings the final piece to that puzzle,” said Ken Rogers, executive director of Automation Alley. “Tom LaSorda and his team represent a wealth of knowledge and business savvy that, when combined with such incredible financial resources, will give second-stage companies the entrepreneurial support needed to elevate business growth in Michigan.”
The Stage 2 Innovations Fund plans to invest in innovative technologies with great potential for large-scale commercialization. Eligible stage-two innovations can apply online at www.stage2innovations.com.
About Stage 2 Innovations
Stage 2 Innovations is a $100 million fund established to accelerate the large-scale commercialization of proven, innovative technologies in the global market. The fund’s goal is to empower and support the commercialization of innovation-based, patentable technology, and, if required, provide hands-on business strategy and operational support.
Stage 2 Innovations was co-founded in 2011 by Tom LaSorda, former President & CEO of Chrysler, and an experienced investor in start-up companies with a proven track record. If an innovation is new and big, we are interested.
To apply, visit www.stage2innovations.com.
About Automation Alley
Automation Alley is a technology business association driving the growth and image of Southeast Michigan’s economy through a collaborative culture that focuses on workforce and business development initiatives.
Since its founding in 1999, Automation Alley has expanded to include nearly 1,000 businesses, educational institutions and government entities from the City of Detroit and the surrounding eight county region. Automation Alley promotes regional prosperity through entrepreneurial and exporting assistance, workforce development and technology acceleration.
For additional information, visit www.automationalley.com.
