Michigan Pre-Seed Capital Fund Invests $600,000 in Three Start-Ups

FOR IMMEDIATE RELEASE – ANN ARBOR, MICH. – JULY 9, 2012 – Three Michigan companies recently received investments from the Michigan Pre-Seed Capital Fund, totaling $600,000.  To date, the Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s SmartZones to support start-ups’ product commercialization, has awarded 75 Michigan companies with seed funding totaling more than $16.5 million. The three companies recently awarded... [Read More...]

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...]

Michigan Capital Available

Next Tuesday we are updating everyone on all the state funded programs that can put cash in the bank account of start-ups and early stage companies.  Andy McColm at U of M Office of Tech Transfer, Ned Staebler from the MEDC and Iwill explain the ins and outs of the many programs available.  We will explain the qualifications for eligibility and processes to apply. The program will be streamed on the web live for those who cannot attend.  Go to http://www.annarborusa.org/start-ups/pre-seed-fund/live/... [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...]

“Open Source” Economic Development

Economic development in Michigan should take a page from the playbook of the ever-evolving software industry. Its “open source” philosophy – the source code that drives development should be open and available to all – is a model that can propel Michigan’s success in growing, retaining, and attracting business. Michael Finney, SPARK President & CEO Ann Arbor SPARK has taken steps to pilot this approach to economic development by designing... [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...]