ZEELAND – Economic development group Lakeshore Advantage has partnered with The Windquest Group – owned by Betsy and Dick DeVos – to offer a seed stage funding and incubator assistance to entrepreneurs who have exceptional technology and web application ideas. The catch is those entrepreneurs selected must agree to move to the greater Holland area for the 12-week program.
The program, Called Momentum, is already soliciting applications for the inaugural class of participants, who will take part in the program this summer. Momentum is a seed stage funding and incubation program. It provides initial investments and business launch assistance to young entrepreneurs who have exceptional technology and web application ideas.
“It is exciting to see our region’s investors, entrepreneurs, and economic development organization collaborating in this effort,” said Amanda Chocko, Director of Entrepreneurial Development at Lakeshore Advantage, “It will be a great experience for everyone involved.”
In the 2009 program, Momentum will select up to five start-up teams, with each team made up of two to three company founders. Momentum will provide the teams with business concept and technology development assistance, mentoring by experienced entrepreneurs, networking opportunities and introductions to potential future investors.
“There is so much untapped intellectual capital in West Michigan – so much talent and passion,” said Bill Holsinger-Robinson, COO of Spout, who is helping to develop and launch Momentum and will be acting as a mentor to the participants. “In a sense, Momentum will serve as a showcase of what’s possible in the area, while by helping these entrepreneurs bring their visions to market.”
Entrepreneur Rick DeVos of The Windquest Group – the son of Betsy and Dick DeVos – will serve as front man and work to evaluate each application and investment opportunity.
“I’m excited about not only showcasing this talent, but also working with the investment community to help them understand the potential of supporting the kind of highly focused, service driven sites today’s web technologies are enabling,” Rick DeVos said.
Applications for the program are due on March 1st. The Momentum team will review the applications and contact the top candidates by March 13th. The selected applicants must be prepared to come to West Michigan for in person interviews during the week of March 23rd. Participants will be required to move to the greater Holland area for the 12-week program that will run from May 4th to August 3rd. Housing assistance and office space will be provided.
For more information, click on Momentum-MI.Com
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