Today, Governor Gretchen Whitmer announced the initial eight recipients of the first-ever Michigan Innovation Fund (MIF) signed into law earlier this year. With bipartisan support from elected officials in the state Legislature, the fund received a $60 million appropriation to distribute across existing early-stage evergreen venture funds in Michigan, emerging evergreen funds in Michigan, and others who contribute to the entrepreneurial ecosystem in Michigan, especially toward startup companies, founders and funds.
“Michigan is a state of makers and doers, and we established the bipartisan Michigan Innovation Fund to unleash their entrepreneurial energy and keep growing our economy,” said Governor Whitmer. “Today’s awardees will harness these new resources to continue pursuing their big ideas in Michigan, leading to more jobs, more companies, and more investments in our communities. Just last week, we were named a top 10 state for business for the third year in a row, achieving our highest ranking ever. We will build on this momentum by continuing to empower Michigan innovators and make our state the best place to have an idea and build something real.”
“Today’s announcement is a bold proclamation to a rapidly growing, highly sought-after entrepreneurship and innovation community that Michigan is willing to put in the work to make this community’s dreams a reality right here in our great state,” said Ben Marchionna, Chief Innovation Ecosystem Officer at the Michigan Economic Development Corporation (MEDC). “It is my hope this announcement is the first of many to come, not only for the state’s support of this industry, but for all of Michigan to see what Michigan is capable of when we invest in the entrepreneurial and innovation ecosystem.”
Full story: Gov. Whitmer Announces Awardees of First-Ever Michigan Innovation Fund | Michigan Business
