Innovative fractional ownership solution for commercial real estate augments Ann Arbor community.
ANN ARBOR, Mich. (Oct. 4, 2019) – Ann Arbor SPARK, a regional economic engine that provides entrepreneurial services to early stage tech startups, is pleased to announce the addition of ProjectFRED as the newest client to the incubator network.
ProjectFRED helps buyers and sellers fund deals while automating the management and operation of commercial assets using fractional ownership on the blockchain. It is a real estate marketplace that is changing the way commercial real estate is bought, sold, funded, and managed.
With expertise in connecting entrepreneurial technology companies with a wealth of mentoring programs and resources, Ann Arbor SPARK will be helping ProjectFRED achieve its financial objectives and create meaningful connections that will further the company on its journey to success. Up next on the agenda, the ProjectFRED team will be participating in the Entrepreneur Boot Camp that kicks off next month, on October 17.
“We’re absolutely excited to begin working with ProjectFRED, a company that is truly pushing the boundaries of the FinTech industry,” comments Bill Mayer, vice president of entrepreneurial services. “It’s a refreshing addition to Ann Arbor’s thriving tech ecosystem, and we’re looking forward to participating in their growth and success.”
Julie Guest, CEO of ProjectFRED, adds, “It is an honor for our company to be invited to join the Ann Arbor SPARK program. The Ann Arbor entrepreneurial community is one of the most vibrant, supportive, and extensive startup communities in the country—in large part due to the strength of the SPARK program.”
ProjectFRED was founded in 2018 at an Ann Arbor coffee shop called Fred’s. Its founders—a neurosurgeon turned blockchain coder, a top-level marketer, and a real estate entrepreneur—were frustrated that a $100 million real estate portfolio in Ann Arbor was struggling to close. The three soon-to-be founders discussed how blockchain could be used to disrupt the commercial real estate industry, decentralizing the process and providing instant, more secure methods of funding. After drinking gallons of espresso, conducting intense market research, and burning out two hard drives with blockchain coding, the ProjectFRED marketplace was created. Visit www.ProjectFRED.co to learn more.
About Ann Arbor SPARK
Ann Arbor SPARK, a non-profit organization, is advancing the region by encouraging and supporting business acceleration, attraction and retention. The organization identifies and meets the needs of business at every stage, from start-ups to large organizations. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners to achieve its mission. SPARK Entrepreneurial Services are financially supported by the Ann Arbor/Ypsilanti SmartZone Local Development Finance Authority (LDFA) which receives funds from the State of Michigan designated for local company and product development. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.