MSU and MEDC announce new entrepreneur fund, applications open Aug. 10
LANSING, Mich. (WILX) - Michigan State University Foundation and Michigan Economic Development Corporation have partnered together to create Michigan Rise.
“We are so excited to get started with Michigan Rise. Our logo is a reflection of our belief that each day is a new opportunity to bring innovation to success,” said Jeff Wesley, Executive Director of Michigan Rise.
The fund will be centered around the following investment areas: advanced automotive and mobility, advanced manufacturing and materials, alternative energy, agricultural processing technology, information technology, homeland security and defense technology, agriculture, life sciences and other innovative technologies.
Investments range from $50,000 to $150,000 each and upwards to $250,000 in total for Michigan-based startups. Michigan Rise will invest in technology startups that have a majority of their employees living in Michigan.
“Our team is dedicated to assisting early-stage Michigan startups with capital and leveraging our relationships across the state of Michigan. Part of this effort will include working closely with our partners in Michigan SmartZones, other regional and national seed stage investment groups, and working strategically with the Entrepreneurship and Innovation team at the MEDC,”said Jeff Wesley.
Applications for investment through the fund will be available here.
“As the entrepreneurial ecosystem rebounds from the ongoing pandemic, this funding will be vital in ensuring Michigan’s early-stage startups have the tools necessary to scale and succeed,” said Nataliya Stasiw, Portfolio Manager with the MEDC’s Entrepreneurship and Innovation team. “We are grateful to partner with Michigan State University Foundation to provide this support, and further demonstrate the innovation and resilience of Michigan’s workforce and economy.”
MEDC’s Entrepreneurship and Innovation initiative helps Michiganders go from idea to reality while providing resources, expert counsel, and a variety of critical resources. please click here.
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