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Local companies named in the “50 Companies to Watch” program.
3/25/2007
Crayon Interface, Charter House Innovations, and EBW Electronics have been recognized as leading second stage companies. The Michigan 50 Companies to Watch for 2007 program recognizes and celebrates the contributions, innovation and energy of the wide variety of second-stage companies in the state. Startup companies and large corporations often garner attention for their achievements, but growing second-stage enterprises (working mostly behind the scenes) generate the bulk of new, sustainable jobs and are a powerful economic force underpinning the high quality of life most Americans enjoy. The Michigan 50 Companies to Watch is sponsored by the Edward Lowe Foundation.
“Michigan 50 Companies to Watch is a unique awards program designed to shine the spotlight on second-stage companies,” says Mark Lange, executive director of the Edward Lowe Foundation, a not-for-profit operating foundation based in Michigan. The foundation’s mission is to “champion the entrepreneurial spirit” by encouraging entrepreneurial cultures in communities throughout the country and helping second-stage companies learn from each other.
“When it comes to a robust economy, second-stage entrepreneurs play a critical role because they generate new jobs and sustainable growth,” Lange says. “And yet, they’re not often recognized or appreciated for the impact they have on the economy or the community.”
Companies nominated for the “Michigan 50 Companies to Watch” list must be second-stage companies, defined as having 6 to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants. In addition, the companies must be privately held and headquartered in Michigan.
Winners were selected by SBAM, the Michigan Certified Development Corporation, Michigan Small Business & Technology Development Center, the Michigan Economic Development Corporation, the U.S. Small Business Administration/Michigan and the Edward Lowe Foundation. Judges evaluated the nominees’ demonstrated intent and capacity to grow based on one or more of the following: employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage, other notable factors that showcase the company's success.
Excerpts from a news release from the Small Business Association of Michigan
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