Companies developing technologies in the areas of advanced automotive, manufacturing and materials, agricultural technology, alternative energy, homeland security and defense, information technology, life sciences and other innovative technologies are invited to discuss their financing needs with Invest Michigan.
“The Michigan Pre-Seed Fund allows us to provide financial backing and strategic guidance to innovative entrepreneurs and to grow businesses in the state of Michigan,” said Charlie Moret, president and CEO of Invest Michigan, which is based in Detroit. “We want early stage high tech start-ups, including those not currently in Michigan, to know that our state is a great place to build and sustain their companies.”
Michigan Pre-Seed Fund 2.0 is funded by the Michigan Strategic Fund and administered by the Michigan Economic Development Corporation (MEDC), the state’s lead advocate for economic growth, and managed by Invest Michigan. It will have $5.8 million to invest into high-tech start-up companies and $1 million dedicated to the University Commercialization Fund to help universities transfer technology to the marketplace.
“This is just one of the many financing programs the MEDC offers to assist entrepreneurs,” said Paula Sorrell, MEDC vice president of Entrepreneurship & Innovation. “We want to see their businesses succeed, while also helping to strengthen the state’s economy.”
For more information on the Michigan Pre-Seed Fund 2.0, visit www.michiganpreseed.info.