LayStitch™ Technologies wins first place in Macomb-OU INCubator competition
Out of almost 50 competing companies Laystitch wins the top honors in Macomb-OU INCubator pitch contest
"This award will help our efforts in developing business opportunities into long term growth for our company."
- Tommy Fristedt
Warren, Michigan — Dec 16, 2014 — LayStitch™ Technologies, a Highland, Mich.-based company, was named first-place winner in the Macomb-OU INCubator's Macomb Pitch: A Competition for Small Businesses contest that included $23,000 in cash and in-kind prizes.
Laystitch™ Technologies LLC, developer of a process of making carbon-fiber composites at a reduced cost, was awarded with $8,500 in cash, a year-long service package from Mac-OU INC and seven hours of consultation with the Butzel Long law firm.
The one-year affiliate membership to Mac-OU INC includes access to the Business Advisory Services Program; the Executives-in-Residence, currently including Butzel Long, Advicoach of Michigan, BiancoCPA and Jim Ruma, local defense expert; Pitch Prep; assistance with access to capital; and one-on-one business development with Mac-OU INC staff.
Re-Contour LLC, a Royal Oak developer of breast reconstruction dressings, won the second-place prize of $1,500.
Warmilu LLC of Ann Arbor, a developer of advanced technology, thermal warming, nonelectric compresses targeted to the geriatric community, collected the third-place prize of $500.
Both Re-Contour and Warmilu also received a one-year lease for a Mac-OU INC cubicle, five hours of consultation with Butzel Long, and a two-hour, strategic planning session with Advicoach of Michigan.
Julie Gustafson, executive director of the Macomb-OU INCubator, said the competition was open to high-growth Michigan-based technology companies with $2.5 million or less in revenue and five years or less in business. Eight finalists were selected from the near 50 applications, she said.
Sponsors of the competition included the Michigan Economic Development Corporation, Butzel Long, Advicoach of Michigan, and Macomb County Planning and Economic Development.
The Macomb-Oakland University INCubator supports economic development in southeast Michigan by accelerating high-tech businesses, cultivating academic innovation and encouraging research & development. To help small businesses grow, the incubator creates customized success strategies for startup and emerging companies in the niche industries of defense, homeland security, advanced manufacturing and technology. For more information, visit http://oakland.edu/macombouinc.
Coliant Group LLC
NOTE TO EDITORS: For additional information visit Powerlet's PR website, or call Powerlet at (877) 752-7835.
Powerlet, the Powerlet logo, RapidFire and Luggage Electrix are trademarks of Coliant Group LLC. Other company and product names may be trademarks of their respective owners.