New Innovation Alliance hopes to turn more Michigan inventions into Michigan companies—and keep billions of dollars in future value from leaving the state. LANSING - For decades, Michigan has been one of America's great innovation engines. The state is home to world-class research universities, global automotive and manufacturing companies, a growing artificial intelligence sector, and
DETROIT - Michigan is investing millions of dollars to build an artificial intelligence economy but questions about Michigan AI investment ROI are mounting. Developers are proposing power-hungry data centers. Universities are expanding AI research. State leaders recently launched a $60 million Michigan Innovation Fund to help technology startups grow. But as Michigan doubles down on
ANN ARBOR — Michigan helped invent the modern auto industry, remains one of America's top engineering centers, and is home to one of the nation's leading research universities. So why isn't the state creating more billion-dollar technology companies? That's the question increasingly confronting Michigan business leaders, investors, entrepreneurs, and policymakers as states like Texas, Colorado,
LANSING - The Michigan Strategic Fund Board officially established the Michigan Innovation Fund on Tuesday, allocating $60 million toward evergreen venture capital funds. The board’s vote was necessary to finalize the implementation of the fund after Gov. Gretchen Whitmer signed a package of bills spurring its creation in January. The Michigan Innovation Fund is the largest funding
ANN ARBOR – Michigan’s entrepreneurial ecosystem scored a big win on 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 of Capital Programs at Ann Arbor SPARK and Managing Member
Michigan’s startup community received a significant Xmas Gift on December 20. The Michigan Senate approved the $60 million Michigan Innovation Fund (HB 5651-53), and the House passed the final bills in the R&D tax credit package (HB 5100-5101). These initiatives will enhance investment in Michigan-based startups and drive research and development across the state. 1.
LANSING - The Michigan Economic Development Corporation, the state's business incentive arm, doesn't want the Governor's proposed $60 million innovation fund to be created with predetermined grant recipients in mind. "That's not the structure which is being proposed here," Amy Rencher, MEDC's vice president of small business services, told MIRS when asked about the possibility
