Three Ann Arbor-based economic development agencies received $15.5 million from the Michigan Economic Development Corp. for several programs to invest in tech startups, train entrepreneurs and provide various services to early-stage companies.
The 21st Century Jobs Fund, managed by MEDC through the Michigan Strategic Fund, announced this afternoon that it is distributing millions to several different groups.
Ann Arbor SPARK, a public-private group co-founded by Gov. Rick Snyder and formerly led by MEDC CEO Michael Finney, got $10.8 million for three programs. Of those funds, $9.17 million will go to SPARK's Michigan Pre-Seed Capital Fund, which invests in early-stage companies throughout the state on behalf of the MEDC; $1.05 million to a new initiative called the Michigan Angel Fund, which will invest in very early-stage ventures; and $600,000 to the Accelerate Michigan Innovation Competition for startups.
To read the full, original article click on this link: Ann Arbor SPARK, other local groups land $15.5 million from Michigan Economic Development Corp.
Author:Nathan Bomey
