ANN ARBOR ? The Michigan Venture Capital Association issued an announcement in February supporting Gov. Granholm?s plan to invest $2 billion over 10 years to commercialize new technology products developed at state universities, corporations and non-profit institutions.
Michigan voters will be asked to approve a ballot measure this November that would authorize the Governor?s plan to sell $2 billion in bonds to create what the governor hopes will be 72,000 jobs over the next decade.
“The MVCA applauds the vision and pro activity of the Governor in identifying entrepreneurialism and technological innovation as critical components of a vibrant future for our state,” said MVCA President Mitchell Mondry, who also is president of M Group of Birmingham. “The venture capital community pledges its assistance in working with the administration and all interested parties to formulate a strategy to place Michigan on a path of growth and prosperity.”
The Association supports Granholm’s recognition of entrepreneurialism in her proposal that supports a variety of activities including creating new sources of funding, such as venture capital, for startup businesses and entrepreneurs.
Another pro-business organization, the Small Business Association of Michigan, is less enthusiastic about the governor?s plan to sell $2 billion in bonds to finance commercialization.
?SBAM is evaluating the governor?s $2 billion bond proposal with an eye toward not just short-term job creation, but in the longer term how it can make Michigan a leader in technology innovation,?? said SBAM President Rob Fowler. ?It?s not enough just to fund research. Michigan must also facilitate the commercialization of successful research results. That?s a key to developing real, sustainable long term job growth and providing us an edge on the states with which we compete for investments and capital.?
