NuWave Technology Partners has been recognized as one of the 2009 “Michigan 50 Companies to Watch,” an awards program sponsored by the Edward Lowe Foundation and presented by Michigan Celebrates Small Business.
NuWave Technology Partners was honored at an awards ceremony during the fifth annual Michigan Celebrates Small Business event, April 30 in Lansing, Mich.
Video: Learn Why NuWave Received the Michigan 50
“In today’s economy, Companies to Watch has become a real game changer,” says Penny Lewandowski, director of entrepreneurship development at the Edward Lowe Foundation, a nonprofit operating foundation based in Michigan. “It changes the conversation from slow-growth, layoffs and closings, to companies that are expanding, hiring, and moving beyond traditional markets.”
“Presenters of the Michigan program recognized this potential since its inaugural year, five years ago,” Lewandowski says. “With a vow to find 50 new companies to celebrate each year, Michigan 50 Companies to Watch is now 250 strong. These are the companies that sustain Michigan through tough times and are transforming how the rest of the nation views the state.”
“From the start, NuWave has modeled itself on companies that prosper regardless of the economic climate,” said Chad Paalman, vice president of NuWave Technology Partners. “Remarkably, these companies rely on the same recipe and it is not a secret: do what you do well, never stop trying to improve, and make your mission solving your customers’ problems.”
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 judges from the banking, economic development, entrepreneurship development and venture capital communities.
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.
Michigan Celebrates Small Business is presented in association with the Michigan Economic Development Corporation, Michigan Small Business & Technology Development Center, Small Business Association of Michigan, the U.S. Small Business Administration and the Edward Lowe Foundation.