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...]

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...]

SEIC Meeting Review

Summary of meeting of SEIC Board on April 9 The SEIC Board met on April 9, 2008 to approve the RFP for the next round of the 21st Century Jobs Fund, officially launching the competition for $30 million to be loaned to technology companies in Michigan.  There was discussion about the RFP and the competion, and the RFP for peer review organizations to judge the competition. Our friend David Havilland with Shepherd Advisors was there and has summarized... [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...]

Next Round for 21st Century Jobs Fund ‘On Hold’

February SEIC Board Meeting cancelled The Michigan Strategic Fund Board meets next Wednesday.  Although the minutes of their January meeting are not on-line yet it is common knowledge that they did not approve the SEICs request to start a new round of funding for Michigan start-ups.  The MSF wants to use the $34 million for other programs.  Some of those dollars may be for programs that will help Ann Arbor respond to the opportunities and challenges... [Read More...]

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