When the Michigan Venture Capital Association (MVCA) released its annual report about the state of venture capital earlier this summer, there was plenty to be optimistic about. In 2013, Michigan bucked national trends by increasing the number of VC professionals statewide by 84 percent, compared with a 13 percent decline nationally. VC-backed companies in Michigan increased by 66 percent over the past five years, and according to the MVCA data, Michigan also vastly outpaced Indiana, Minnesota, and Wisconsin when it came to the number of venture-backed deals brokered in 2013.

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