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...]
Pre-Seed Fund Makes 3 More Investments
3 start-ups receive $680,000 from state fund The Michigan Pre-Seed Capital Fund has made three more investments. They are: Creative Byline of Holland SenSound in Detroit Biotectix in Ann Arbor These investments are 29, 30 and 31 for the fund. It’s pretty impressive this little fund can make 31 investments in two years. Yes there is still capital that can be deployed. More than $1million. There are currently 7 companies under review. Demand... [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...]
