LANSING ? The Michigan Strategic Economic Investment and Commercialization Board on Wednesday awarded more than $100 million to 61 projects submitted in the first round of the 21st Century Jobs Fund initiative to create jobs in Michigan’s emerging technologies.

Left off the list were projects proposed by the Ann Arbor IT Zone, Great Lakes Entrepreneur’s Quest, MichBio and Ann Arbor SPARK, which would have more directly helped pre-seed stage entrepreneurs – startups that are looking to make a name and gain funding from the private equity finance world.

The 21st Century Jobs Fund is a $2 billion, ten-year initiative proposed by Michigan Gov. Jennifer Granholm, approved by the Michigan Legislature, and administered by the Michigan Economic Development Corporation to accelerate the diversification of Michigan’s economy.

The commercialization component of the initiative devotes approximately $800 million for competitive-edge technologies in the targeted sectors of life sciences, alternative energy, advanced automotive materials and manufacturing, and homeland security/defense.

Proposals approved include the following:

Life Sciences ? 25 proposals for $45.7 million

Alternative Energy ? 4 proposals for $8.9 million.

Advanced Automotive Materials and Manufacturing ? 26 proposals for $37.3 million.

Homeland Security/Defense ? 6 proposals for $9.3 million.

The original field of 505 proposals was narrowed to 179 finalists by an independent peer-review process conducted by the American Association for the Advancement of Science. The 179 finalists recently underwent intense, individual interviews by AAAS experts who then made final recommendations to the SEIC board.

The AAAS is the world’s largest science and engineering association and publisher of Science magazine. Awardees include researchers at Michigan public universities and private research institutes and entrepreneurs working to commercialize technology-based products.

“The 21st Century Jobs Fund competition incorporates a new emphasis on entrepreneurship that can take research deliverables to the marketplace,” MEDC President and CEO James C. Epolito said. “Today’s funding awards will lead directly to the creation of new Michigan businesses and good-paying jobs for Michigan workers in years to come.”

Each of the awards will be administered by the MEDC with contracts that establish conditions and mileposts for receipt of funds. Contracts, individually tailored to each proposal, will be finalized by the MEDC’s general counsel in consultation with the Michigan attorney general. The MEDC employs portfolio managers, similar to those of venture capital operations, who will oversee the progress of the projects. Award funding will be paid out incrementally as project milestones established in the proposal and contract are achieved.

For a complete list of winners, click on Michigan.Org/21stcentury