ANN ARBOR – Dug Song, who sold in 2018 Duo Security to Cisco for $2.35 billion, has contributed $1 million to an emergency relief fund for small businesses in Washtenaw County impacted by the COVID-19 pandemic.
The money was donated to the Washtenaw Small Business Emergency Relief Fund. https://www.washtenawsbf.com/ Contributions also came from Ann Arbor SPARK, the Greater Washtenaw Region Small Business Development Center (SBDC), Washtenaw County Office of Community and Economic Development, the Entrepreneurship Center at Washtenaw Community College.
Eligible companies can get from $1000 to $5000 to partially compensate them for the economic damage done by shuttering most businesses to stifle the pandemic.
Song on Monday announced a $1 million donation to the fund from The Song Foundation, which he and his wife Linh Song founded in 2019 to “invest in the innovative people and organizations who are improving the quality of life for all in Southeast Michigan, and helping to build a more just and equitable world,” according to a news release.
“My wife Linh and I know how critical these local businesses and jobs are in our community,” Song said in a statement. “We need small business employment to continue to be the backbone of economic opportunity. Small businesses are critical to our region and provide meaningful jobs that support our local community. We value these independent businesses that make Washtenaw County stand out as a unique place to live and work.”
The emergency relief fund is meant for small businesses who need to pay for daily operating expenses while impacted by circumstances surrounding the outbreak of the virus that causes COVID-19. Gov. Gretchen Whitmer on March 24 ordered residents to stay home and most businesses to close their doors at least through April 13 – and most likely April 30 – to help limit the spread of the new coronavirus.