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ANN ARBOR, MI-A new organization aimed at increasing the number of high-technology businesses in and around the metro area says it has more than $2 million in commitments toward a $3 million, three-year operating goal. Organizers of Spark say they also have additional informal pledges exceeding this funding target.

University of Michigan president Mary Sue Coleman has said the University will pledge up to $1 million over five years, beginning with a three-year pledge of $600,000. If the effort shows progress, the university would continue funding at the same rate for at least two years after that.

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