ANN ARBOR – Michigan’s entrepreneurial ecosystem scored a big win December 20 when the Michigan Senate approved the $60 Million Michigan Innovation Fund and the House passed the final bills in the R&D tax credit package.
Joining MITech TV is Mike Flanagan, Vice President, Capital Programs, at Ann Arbor SPARK, and also Managing Member of the Michigan Angel Fund, to provide more details. SPARK received $9 million from the new fund.
The biggest change for tech entrepreneurs is the Michigan Innovation Fund also has money for start-up prototype development, the first time Michigan government has provided money for this purpose for entrepreneurs. Startup companies in Michigan have historically reported that they lack the capital they need to grow and succeed.
As a result, a coalition of entrepreneurial support organizations, including Ann Arbor SPARK, created the Michigan Innovation Fund concept and advocated for the state to support it.
Your can read all the details at MITechNews.
You can apply for prototype funding at www.annarborusa.org. You can also email Flanagan at [email protected]
