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.

Spark's goal is to double the number of technology companies and triple the number of technology jobs in the region by 2010. "We decided to establish this region's national identity as a hot spot for innovation and entrepreneurial energy and the development of technology talent," Coleman says. "I'm delighted at the progress we have made since we launched this project in November, originally as 'Ann Arbor TechCentral.' Now, with our new name, Ann Arbor Spark, an impressive set of collaborative partners and an exciting mission, we have accelerated our path to innovation and success."

Spark will be headquartered at 330 E. Liberty, the ground floor of which is being renamed Spark Central. Technology organizations such as the Ann Arbor IT Zone, MichBio and U-M TechStart will join the Spark staff in this office and networking space, which also houses several entrepreneurial programs.