The Michigan Economic Development Corp. is taking on the role of venture capitalist in its latest program to bolster early-stage technology companies.
The MEDC set aside $5 million to match venture capital funding for Michigan-based technology businesses.
The MEDC’s Michigan Strategic Fund Board, appointed by the Governor, approved the Pure Michigan Venture Match Fund at its meeting on Wednesday. It will begin accepting applications on April 2.
The program initially was set to begin this month, but organizers delayed the process to consider public input.
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