Capital Investment in Emerging Technologies a Sign of Long-Term Growth Opportunity
The Coretec Group announced funding two months ago, making us part of a group of other innovative and emerging technology companies raising capital as investors are positive on grand visions for the market opportunity within our respective market sectors. Right now, capital is readily available for global companies possessing innovative technology whether it be in commercially ready form or undergoing R&D, as investors understand the tipping point is near for industries such as solar, renewable energy storage, electric vehicles, LED lighting, and others. That “tipping point” is when current designs and materials reach their limit of development creating an opportunity for the adoption of new designs and materials to spur their respective industries forward. The Coretec team is constantly monitoring funding and partnership opportunities, recently receiving an email from ARPA-E (Advanced Research Projects Agency-Energy) which is a United States government agency tasked with promoting and funding research and development of advanced energy technologies. The email can be found here, and while not specific or directly related to Coretec in any way, yet, it is worth your review: Today, ARPA-E issued a funding opportunity announcement (FOA) for up to $50 million in funding for a new program, Seeding Critical Advances for Leading Energy technologies with Untapped Potential (SCALEUP). The SCALEUP program aims to support the scaling of high-risk and potentially disruptive ARPA-E funded technologies across the full spectrum of energy applications. Of course, investing in Michigan is nothing new! In fact, Business Facilities awarded Michigan Economic Development Corp. with the 2019 Deal of the Year, for Fiat Chrysler Automobiles’ (FCA) $4.5 billion investment in Detroit and nearby Macomb County. In fact, Michigan venture capitalists shattered previous years records with investments exceeding $770 million, a number that rose over 53 percent in 2019! What does this mean for Coretec? Again, there is no undisclosed tie between our organization and government, private, or public organization, but we do believe it speaks more broadly to the growth of the industries we work in and reflects on the opportunity for Coretec.