A trio of initiatives from the Michigan Economic Development Corp. aims to increase the flow of capital to startups and early-stage companies in the state.
By the end of the year, two separate but similar funds of $1 million and $2 million each could begin offering grants to university researchers and entrepreneurs seeking to validate innovations and prove out their concepts. A third fund, rather than providing direct capital, would pay to better coordinate activities among the nine angel investment groups in Michigan to leverage their strengths and share best practices on tasks such as due diligence and deal syndication.
