Michigan Pre-Seed Capital Fund Invests $2.5 Million in 2010

Several Michigan companies recently received investments from the Michigan Pre-Seed Capital Fund, pushing the total investments made through the Fund to over $11.6 million.  To date, 52 Michigan companies have received seed funding from the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s SmartZones. “Companies that received support from the Michigan Pre-Seed Capital Fund are currently employing 285 people throughout... [Read More...]

Three Companies Receive Combined $110,000 From Michigan Microloan Fund Program

Three Michigan companies recently received a combined total of $110,000 through the Michigan Microloan Fund Program, bringing the total amount invested through the Fund to over $1.69 million. GreenSand Corporation, iQ-Telematics and MyBandStock Corporation received the funding to support commercialization of their core products. Since the Michigan Microloan Fund Program was established in July 2009, 42 companies have received over $1.6 million... [Read More...]

More 21CJF Awards

Have you been following the 2008 21st Century Jobs Fund award announcements?  You will recall that originally last October, 2008 the SEIC Board approved awards to 17 companies.  That was how many of the 51 applicants they could accomodate with the $30million available for the competition last year.  As the MEDC completed due diligence and confirmed matches, two companies had to drop out.  They couldn’t close on their match and therefore... [Read More...]

21st Century Jobs Fund Awardees

The SEIC Board approved the recommendations of the NCMS reviewers giving 17 companies approval to borrow money from the state, totaling almost $30 million.  The 17 were the top scoring proposals of the 51 reviewed.  If any of the 17 change their mind about accepting the loan or the MEDC due diligence reveals inconsistencies in proposals causing some of the awards to be invalidated, the companies ranking 18, 19 or beyond would be approved.  This... [Read More...]

21CJF Applicants Notified of Fate

Announcements went out advising companies they made it to the written review phase Applicants for this round of the 21st Century Jobs Fund competition were notified yesterday that they were approved to move forward to the written review phase.  About 90 companies are moving forward.  We haven’t heard yet what the 26 companies were told who didn’t move forward. This phase of the competition will take another two weeks.  NCMS will recommend... [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...]

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 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...]

Next Round of 21CJF

Stay tuned for announcement from SEIC board The SEIC board is meeting Monday February 25.  At that meeting they might approve the RFP for applicants to compete for the $30 million round of funding available this year.  Our friend David Haviland at Shepherd Advisors, who tries to attend all the SEIC meetings, was at the January meeting and reports on what he heard in his blog at http://mi21cjf.proboards100.com/index.cgi?board=306news&action=display&thread=22. A... [Read More...]

21st Century Jobs Fund News

An update on the next round of 21CJF competition Our friend David Haviland went to the Michigan Strategic Fund Board meeting last month to find out what he could about the next competitive round of funding via the 21st Century Jobs Fund.  Follow the link below for his report.  It’s a good review of the big picture of the 21CJF program and the portion committed to the competition for early stage companies. David says the SEIC will meet in January... [Read More...]