Ann Arbor SPARK awarded $500,000 from the MEDC for SPARK East Incubator
Ann Arbor SPARK was recently awarded $500,000 from the Michigan Economic Development Corporation’s (MEDC) 21st Century Jobs Fund. The funding will support the Ann Arbor SPARK East business incubator.
“MEDC support for Ann Arbor SPARK’s East incubator extends and enhances opportunities for start-ups throughout the region,” said Paul Krutko, president and CEO, Ann Arbor SPARK. “Business incubators play an important role in our economy: The start-ups that receive assistance through SPARK East attract investment, retain talent and create jobs here in the region. Ann Arbor SPARK business incubators provide the critical support that start-ups need to become drivers of economic success.”
Ann Arbor SPARK was awarded $500,000 for the SPARK East business incubator, located in Ypsilanti, Mich. The funding will enable Ann Arbor SPARK to offer additional business incubator scholarships and business acceleration programming. The funding will also support new services developed specifically for students, including entrepreneur education.
To date, 42 start-ups have been assisted through programs and support offered at the SPARK East business incubator.