Prism Analytical Technologies has been in business since 1992 as a company focused on providing its clients superior air testing methodologies with extraordinary customer service. Many Fortune 100 and 500 companies as well as hundreds of industrial hygiene professionals rely on Prism's technology to solve their indoor air quality, environmental, process control, and industrial gas analysis challenges.
The Central Michigan University Research Corporation started to engage when Prism was working on utilizing their technology to develop a product to be sold directly to consumers, the Home Air Check™. The CMURC has provided Prism with the additional lab space to launch and grow this new product. In addition to the extra lab space, Prism relocated their Office and Administrative functions to the CMURC, becoming an Incubator Tenant. It was at thus time that Prism opened a Series A round of funding that CMURC assisted in facilitating additional investment.
Ultimately, CMURC has been working with Prism for their future facility in the Mount Pleasant SmartZone; therefore, CMURC has set aside a portion of their rent to reallocate towards that development . The CMURC has also helped facilitate meetings with potential builders and have assisted in putting the financials together to identify the milestones that need to be met.
The CMURC helped facilitate a microloan for Prism in the amount of $25 k from Northern Initiatives. Along with that, CMURC allocated grant funding to set up a call center that they will be launching in the next few months. The CMURC is now working on writing a Business Accelerator Fund grant application for additional funding for a new and innovated project that will take Prism’s sales to the next level. These funds are essential in advancing the Home Air Check™ capabilities.
Prism Analytical Technologies has a bright future in store. The CMURC looks forward to continuing to help the organization grow and commercialize new products.