New Economy Initiative Awards $3 Million to Business Accelerator Network for Southeast Michigan
The announcement of the new Business Accelerator Network for Southeast Michigan, a region-wide collaborative effort dedicated to attracting and retaining business in southeast Michigan, took place on Monday, June 21st. The New Economy Initiative for Southeast Michigan, an innovative philanthropic effort to accelerate the transition of metro Detroit to an innovation-based economy, announced a $3 million grant over three years to support the newly formed Business Accelerator Network for Southeast Michigan.
Comprised of the region’s four key business accelerators– Ann Arbor SPARK, Automation Alley, Macomb-OU INCubator, and TechTown, the Business Accelerator Network for Southeast Michigan will work collaboratively to share best practices, host events on addressing issues and goals that impact southeast Michigan, support business plan development, and leverage funding to grow business in the region.
Collectively, the four involved business accelerators have invested in 339 start-up companies, invested more than $18 million, created more than 1,000 jobs and secured more than $101.2 million in additional capital for the companies.