21st Century Jobs Fund Applicants

109 companies applied for funding The numbers are in.  109 companies applied for funding in this round of the 21st Century Jobs Fund competition.  An astounding total of $451 million is being asked for in total. Here’s a breakdown of the applicants: 27 in Advanced Automotive, Manufacturing, and Materials asking for $157,845,672 14 in Alternative Energy asked for $71,729,846 19 in Homeland Security and Defense asked for $43,402,965 49 Life... [Read More...]

21st Century Jobs Fund Update

Peer Reviewers, Loan Terms, More Competitors The SEIC Board met last Wednesday and recommended the National Center for Manufaturing Sciences (NCMS) be the organization to conduct the peer review process for this round of the 21st Century Jobs Fund competition. The MEDC http://www.themedc.org/21cbizplan/ also talked about the loan to be used for the awarding of the money to recommended companies.  Rather than two loans they are zeroing in on one. ... [Read More...]

Interest in 21st Century Jobs Fund Competition Low

Very few companies have registered to apply for 21CJF competion Have you thought about applying for the 21st Century Jobs Fund pool of $30 million and decided not to?  THINK AGAIN. Only 30 companies have registered so far for the competition.  That’s not much competition.  The word is, apply even if you don’t think you meet all the criteria to the tee.  Sell your business and make your case.  You may (or may not) lose a few points... [Read More...]

New Application Deadline for 21CJF

Deadline to apply for the 21st Century Jobs Fund competition is moved to June 30 The SEIC Board has not yet selected a peer review organization for the 21CJF competition.  Their next meeting to make that decision is in mid-June, after the original June 4 deadline.  Therefore they had to push out the date. It is actually a good thing in that it gives companies more time to raise their matching investments and/or commitments. Have you registered? ... [Read More...]

21CJF Update

New information about application content Have you read the FAQ regarding the 21st Century Jobs Fund competition recently?  Here’s the link: http://ref.themedc.org/cm/attach/18efd0c7-95d3-4a2f-89e4-cae672d8ecd2/20080428_FAQs.pdf Here are some highlights that shed more light on  the RFP. You already know there will be 2 types of loans, a straight loan and a convertible note.  Which will apply to you?  The MEDC says this will be negotiated... [Read More...]

21st Century Jobs Fund Survey

Survey of companies considering an application for the competition Shepherd Advisors is conducting a volunteer survey of companies considering application to the 21CJF competion.  http://www.surveymonkey.com/s.aspx?sm=pub_2bWsXr5QdcceT8FBMjIw_3d_3d The survey is short and is designed to capture some very general information about interested applicants.  By collecting this info we may get a sense of just how many applications there may be as well... [Read More...]

21st Century Jobs Fund Competition Now Open

The 21CJF competition for $30 million for For-Profit companies in Michigan The competition is open for the $30 million available to for-profit companies through the 21st Century Jobs Fund adminisered through the SEIC Board.  We will try to keep you up to date on the process and procedures in an effort to give you the best opportunity for success. The first thing you need to do is pull down the RFP.  The MEDC has done a very good job at providing... [Read More...]

21CJF Competition Starts This Week

SEIC Board will Approve RFP on Wednesday The SEIC Board will approve the RFP opening the competition for the next round of 21st Century Jobs Fund awards at their meeting on Wednesday.  $30 million will be available to for-profit companies only. SPARK will make a presentation to explain the award criteria and provide insight regarding what companies will be the likely winners on Thursday at noon at SPARK Central.  To register click here http://www.annarborusa.org/events/event-calendar/Index.cfm?i=2475. We’ll... [Read More...]

Next Round

RFP Draft currently available The application period opens April 9 for the next competitive round of 21st Century Jobs Fund loans.  The SEIC Board met last week and approved the draft for who is eligible.  Public comments will be received next week, March 26.  For more on the SEIC meeting I refer you to the blog of our friend David Haviland with Shepherd Advisors.  His summary of that meeting is here: http://mi21cjf.proboards100.com/index.cgi?board=306news&action=display&thread=26 David... [Read More...]

21st Century Jobs Fund next round delayed

SEIC Board meeting canceled 2/25/08 Yesterday’s meeting of the SEIC Board was canceled since not enough members could attend to make a quorum.  Their next meeting is March 12.  See their schedule for the year here: http://www.themedc.org/Boards-Committees/SEIC-Board/Default.aspx The main item on the agenda yesterday that is now delayed two weeks was to approve the announcement of the RFP for eligible companies of the $30 million next round... [Read More...]

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