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?  No cost to register or obligation to apply so do it and get that step off your plate. Then go in and look at the actual application.  Doing so will probably generate some questions.  Submit those questions via the FAQ link.  The MEDC has been responsive in getting answers posted quickly.

We’re trying to stay up on the process so check back with us from time to time or feel free to call.

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 those discussions and added his take on the situation.  Here’s the link to his blog: http://mi21cjf.proboards100.com/index.cgi?board=306news&action=display&thread=40

He also has some commentary about the notes the MSF Board will provide for the winners in this competition. He provides a summary of the types of loans issued the last time around.

Check it out.

David Havilland’s post on the SEIC meeting 4/9/08
Summary of the conversation at the meeting

The SEIC Board will approve the RFP opening the competition for the next round of 21st Century Jobs Fund awards at their meeting on Wednesday.  $30 million will be available to for-profit companies only.

SPARK will make a presentation to explain the award criteria and provide insight regarding what companies will be the likely winners on Thursday at noon at SPARK Central.  To register click here http://www.annarborusa.org/events/event-calendar/Index.cfm?i=2475.

We’ll be blogging all through the application period, which ends June 4.  So check back often.

Register for 21CJF Overview
Presentation on 21CJF RFP and How to Prepare

The application period opens April 9 for the next competitive round of 21st Century Jobs Fund loans.  The SEIC Board met last week and approved the draft for who is eligible.  Public comments will be received next week, March 26.  For more on the SEIC meeting I refer you to the blog of our friend David Haviland with Shepherd Advisors.  His summary of that meeting is here: http://mi21cjf.proboards100.com/index.cgi?board=306news&action=display&thread=26

David has also summarized the RFP.  You can find this at: http://mi21cjf.proboards100.com/index.cgi?board=round2&action=display&thread=25

The short highlights are these:

1) $30 million pool; 2) For-Profit companies only are eligible; 3) A cash match will be required; 4) A $500 application fee will be charged; 5) Window for applying is April 9 to June 4; 6) A maximum 25 page business plan will be the key element of your application.

The official website for the next round of 21CJF competition is www.TheMEDC.org/21CBizPlan

Ann Arbor SPARK will be making a presentation to explain the intracacies of applying in a few weeks.  Keep your eyes open for our announcement.

Official site for the Michigan 21st Century Jobs Fund
Official RFP and other information about the 21CJF program available here

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 of 21CJF awards. This approval will now take place March 12.

After approval there will be a 14 day public comment period.  At the next SEIC meeting scheduled for April 9 the RFP will be approved and sent out with the criteria and timetable for applying.  Applicants will probably have until some time in late May to apply.  Given the time frame required to perform all the reviews, recommendations for investments will probably be presented to the SEIC in August at the earliest.

Mark your calendar to look for news about the next round on March 12.