Tuesday, March 18, 2008

High tech growth in Ann Arbor

Do a dance of joy at this news: two high tech startups have announced plans to set up shop in Ann Arbor.

Sakti3, a University of Michigan spinout, headed by U-M professor Ann Marie Sastry, plans to invest $1.1 million and hire some 112 workers. The company hopes to "commercialize a manufacturing process in Ann Arbor for the development of high-power batteries that will withstand the rigors of automotive use, primarily in electric vehicles," according to the MEDC. Translation, this company could develop a lithium ion battery that would drive the Volt.

MyBuys is an online retailing firm led by U-M graduate Bob Cell. The company provides personalized product recommendations to online retailers' customers, expects to open an office in the Ann Arbor area, investing $5.4 million and hiring 250 workers.

Take that, slumping, crunching, downward spiraling economy! Hah.