GRAND RAPIDS – The Michigan Emerging Technology Fund, launched two years ago in partnership with the MI-SBTDC and the Michigan Economic Development Corp., has been awarded $1.4 million in 2009 to help fund opportunities for exceptional research and technical innovation generated in Michigan.
To date, the Michigan ETF has received 150 applications and has awarded $747,486 to fourteen companies. This matched $7,952,413 in federal SBIR/STTR dollars. The awardees have raised $587,770 in third party commercialization dollars.
“Phrixus received an award from the Emerging Technologies Fund in 2008. This award was very important to the further development and commercialization of our product, since it gave us the extra working capital we needed to take it to the next level,” said Phrixus Chairman Thomas A. Collet.
.
“SBIR and STTR federal research contracts provide critical funding for small business technology development projects, but there are several restrictions on how these dollars can be spent,�?� said MI-SBTDC Technology Team Coordinator Phil Tepley. �??The Michigan ETF program is so important because it provides funding to cover costs that are not allowed under the SBIR/STTR program, but are vital to commercialization including intellectual property protection, marketing and business plan development.”
The purpose of the Michigan Emerging Technologies Fund is to:
�?� Encourage companies to pursue SBIR/STTR grants and contracts
�?� Increase Michigan’s competitiveness in obtaining SBIR/STTR funds
�?� Increase commercial success of Michigan SBIR/STTR projects
�?� Stimulate early stage technology investing activity in Michigan
To apply to the Michigan ETF or learn more about the program and eligibility requirements, click on MIeff.Org
a>>
