Michigan Pre-Seed Capital Fund Invests $585,000 in Three Start-Ups
Three Michigan companies recently received investments from the Michigan Pre-Seed Capital Fund, totaling $585,000. To date, the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s SmartZones, has awarded 63 Michigan companies with seed funding totaling more than $14 million. The Michigan Pre-Seed Capital Fund companies have attracted more than $18 million in matching grant and equity funds. In 2011, the Michigan Pre-Seed Capital... [Read More...]
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... [Read More...]
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...]
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...]
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...]
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...]
