Use these Northern Michigan economic development resources to help get funds for a new business, enter a business plan competition, make smart investments and more.
Capital Locator Tool: Find and connect with capital providers that are active in Michigan and have an interest in your company’s stage and sector.
Michigan Emerging Technologies Fund: This program matches federal funds for exceptional research and technical innovation generated in Michigan.
- Michigan Translational Research Acceleration and Commercialization Fund (M-TRAC) Program. M-TRAC uses the nationally recognized Coulter model to translate university research into products through start-ups and licenses with the goal of creating high-tech companies and jobs in Michigan.
- Michigan Initiative for Innovation & Entrepreneurship (MIIE): A collaboration of all 15 public universities with representatives of the angel/venture capital, industry and economic development communities designed to build on Michigan’s universities as economic assets by funding joint projects, entrepreneurship education and technology commercialization. http://miie.org/
Business Plan Competitions
- Accelerate Michigan Innovation Competition (AMIC): The Accelerate Michigan Innovation Competition is an international business plan competition designed to highlight Michigan as a robust and vibrant venue for innovation and business opportunity. $1 million in cash prizes, largest business plan competition in the world.
Other competitions in Michigan:
Equity Funding Programs
Pure Michigan Venture Match Fund: The Michigan Strategic Fund (MSF), through the Pure Michigan Venture Match Fund (PMVM Fund), is soliciting applications from for-profit Michigan-based companies that have received an equity investment commitment from a qualified venture fund for commercialization and growth purposes to provide a match of the investment.
Michigan Angel Fund: The Michigan Angel Fund (MAF) provides funding to capital-efficient early stage companies located in Michigan. MAF works closely with other stakeholders in the Michigan entrepreneurial ecosystem to ensure that we invest in the most promising companies and to ensure the future success of these companies and our investments. MEDC provides administrative support only, but investments and screening are done by private investors.
Michigan Pre-Seed Fund 2.0: Invest Michigan is the manager of the Michigan Pre-Seed Fund 2.0. As fund manager, Invest Michigan has a contract with the Michigan Strategic Fund to direct and manage a $6.8 million investment fund. The fund works with Michigan entrepreneurs to build high-tech sustainable enterprises by connecting technology startups to resources, providing capital to startups, and actively engaging with entrepreneurs to help them grow their businesses. The fund invests in Michigan companies with the following technologies: advanced automotive, manufacturing and materials, agricultural technology, alternative energy, homeland security and defense, information technology, life sciences and other innovative areas.
Angel Capital Programs
Angel Network Growth Program: The Angel Network Growth Program is designed to support angel groups within the State of Michigan. These awards will reward investment activity and provide the angel group with additional resources to encourage and support further investment and growth in membership. http://www.michiganvca.org/
Angel Investment Group Seed Program: Financial support is available to the angel investment groups in the State of Michigan to attract more members and enhance deal flow. An angel group can receive $500 for each new member, and $25,000 to cover administration fees for any organization that brings on 50 new members or more.
Venture Capital & Private Equity Programs
Michigan Accelerator Fund I: Michigan Accelerator Fund I is an investment partnership headquartered in Grand Rapids, Michigan. The purpose of this venture capital fund is to achieve significant, long-term capital appreciation for its investors.
Huron River Ventures: Huron River Ventures (HRV) is an investment partnership headquartered in Ann Arbor, Michigan. The firm invests in seed-stage, energy technology, Cleanweb, and smart transportation enterprises. HRV is ideally positioned to take advantage of the convergence of two significant trends: Global Energy Technology Growth and Michigan’s Economic Transition. As these trends converge, entrepreneurs and technologists are increasingly seeking early-stage capital and support to commercialize breakthrough technologies. HRV was established to meet this need.
21st Century Investment Fund: The 21st Century Investment Fund is composed of funds created in 2006, managed by Credit Suisse. It has committed $109 million from the 21st Century Jobs Fund as a limited partner in 12 venture capital, mezzanine, and private equity funds. These funds must invest in Michigan companies, at minimum, an amount equal to the MSF investment in each fund.
Venture Michigan Fund I & II: The Venture Michigan Fund (VMF) is a $95 million venture capital investment program designed to help Michigan create jobs and bring new industries to the state through the creation of a fund-of-funds that invests in private equity managers that invest primarily in Michigan-based early-stage companies.
InvestMichigan!: InvestMichigan! represents a groundbreaking partnership of public and private interests in the deployment of private equity capital. InvestMichigan! is a $300 million fund focused on generating strong returns for investors and growing the next generation of Michigan companies.
Venture Fellows Program: This 18-24 month program will allow up to 10 fellows in a three year period to be hired at the venture capital firms in Michigan to create opportunities for emerging leaders who want to stay or move back to Michigan to seek careers in venture capital. http://www.michiganvca.org/
Business Connection & Assistance
Michigan Smartzone Network: This network connects universities, research organizations and corporations to stimulate the growth of technology-based businesses and jobs. Michigan’s 15 SmartZones do not include Northern Michigan. Muskegon is the closest.
Pure Michigan Business Connect: This public/private program is focused on partnering Michigan businesses to help them grow. Developed by the Michigan Economic Development Corporation, PMBC helps companies find resources to expand their supply chain, discover new business opportunities, access a business-to-business network and provides services like legal and accounting assistance at little or no cost.
Business Assistance: State of Michigan resources to help your business start-up in Michigan.