BATTLE CREEK ? Battle Creek Unlimited, the economic development arm of south central Michigan, announced Tuesday it will manage and source the Michigan Homeland Security Consortium’s Resource Fund, to pump money into promising homeland security start ups.
The fund, conceived of by the Consortium’s Chairman Keith Brophy, will support Michigan state-based businesses and entrepreneurs through venture funding and non-monetary resources. BC Ventures, which is the Technology Business Accelerator group within Battle Creek Unlimited, will identify and attract up to $10 million in funding to invest in security and defense businesses, a key industry in the region.
The MIHSC Board of Directors selected Battle Creek Unlimited as the
Fund Manager, based on its expertise in accelerating businesses in aviation
and homeland security. By focusing on the areas of security and defense
businesses, Battle Creek Unlimited aims to create hundreds of new jobs and
many businesses that complement Michigan’s growing homeland security
industry.
“Michigan has a rich base of homeland security-oriented organizations,
but we need to fuel more growth in order to compete globally,” said Jack
Miner, who joined BC Ventures as Managing Director in March 2007. “In
Battle Creek, we’ve already taken steps to augment our homeland security
business community. The Michigan Homeland Security Resource Fund is a
natural extension of those efforts and will support others around the
state.”M.
For the Fund, BC Ventures will attract private investment and identify
federal, state and local funding sources. BC Ventures also assists
businesses with mentoring, planning and grant writing through the Small
Business Administration. Battle Creek Unlimited and the MIHSC also have an
advisory committee to help oversee the fund, to provide tax and legal
advice, and to determine allocations to recipients.
For more information, click on BCUnlimited.Org
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