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...]

Micro loans becoming very popular

Six months ago there was no such thing as a loan for a pre-revenue, innovative start-up company.  Today, if you are in Washtenaw county there are three sources for loans.  There has been a lot of press about these micro loans the past few weeks.  Expect a lot more.  We have made four loans to companies around the state through the Michigan Pre-Seed Capital Fund program totalling $137,500 in just three months.  Applicants for the Ann Arbor and... [Read More...]

MI Pre-seed Capital Fund changes announced

The state of Michigan, through the 21st Century Jobs Fund, has re-capitalized the Michigan Pre-seed Capital Fund.  The award of $6.8 million was approved by the SEIC board in March.   There are two significant changes affecting distribution of this new money.  One is the match for an investment is lowered to one-half to one.  In other words to ask for a $200,000 investment from the fund a company only needs $100,000 of matching investment from... [Read More...]

No Word on 2009 21CJF Competition

SEIC Board did not mention next round of competition at meeting The SEIC Board at their meeting last Friday never mentioned the next round of the 21st Century Jobs Fund competition. What they did discuss was how to handle the available $6.7 million that isn’t getting claimed from the most recent round of competition. Two more companies, Avidimer Therapeutics and Accuri Cytometers joined Cielo Med Solutions in not agreeing or unable to take the... [Read More...]

21CJF Update

Updated information about the 21st Century Jobs Fund competition The SEIC met last week to approve the list of companies that met the requirements for eligibility for the 21st Century Jobs Fund competition.  26 companies were rejected from the 117 that applied leaving 91 companies to be reviewed.  Those 26 should have received word by now but we haven’t heard any rumblings yet. David Haviland with Shepherd Advisors attended the meeting and... [Read More...]