Capital

A coordination point for private venture capital funds, corporate venture capital funds, private equity firms, angel investors, and entrepreneurial infrastructure participants, the Michigan Venture Capital Association (MVCA) seeks to grow and sustain a vibrant venture capital community in Michigan. 

MUCI is a collaboration designed to complement and enhance the technology transfer at Michigan academic and research institutions by supporting commercialization of intellectual property.

	- The MUCI Challenge Fund provides awards up to $50,000 to commercialization projects at member institutions.
	- Training and networking events are available in the field of technology transfer.
	- Facilitate the development of performance indicators related to technology transfer, and mechanisms to report these data.
	- Administered by U of M, also includes MSU, CMU, EMU, FSU, GVSU, LSSU, MTU, NMU, OU, SVSU, UM-Dearborn, UM-Flint, WSU, WMU.
	- Requires 50% to 100% match from companies.

The Michigan Pre-Seed Capital Fund supports high-tech start-up companies in Michigan as they near commercial viability by providing access to early-stage capital investment or micro loans to accelerate company development.

	- The Pre-Seed fund investment is a convertible note up to $250,000, the Pre-Seed loan is up to $50,000.
	- Eligible companies have less than $1 million in revenues and less than $1 million in 3rd party funding. 100% matching funds from a third party source are required. Eligible companies will need to be past the concept development and analysis phase.

Financial support is available to the angel investment groups in the State of Michigan to attract more members and enhance deal flow. 

- An angel group can receive $500 for each new member, and $25,000 to cover administration fees for any organization that brings on 50 new members or more.

The Accelerate Michigan Innovation Competition is an international business plan competition designed to highlight Michigan as a robust and vibrant venue for innovation and business opportunity:

	- $1MM in cash prizes, largest business plan competition in the world.
	- AMIC takes place once a year, and is suited for technology companies who have demonstrated success in their technology and business development.
	- Judges represent private equity investors and firms from around the globe.

The GLEQ is a state-wide business plan competition, takes place twice a year, and offers multiple prizes including a top prize of $100,000. The GLEQ also matches companies with experienced coaches to guide them through the competition and holds more than 20 training and networking events for 400+ technology companies each year.

	- Start-up businesses as well as student teams participate.
	- Outcomes include development of a business plan and an elevator pitch for finalists.
	- 180 volunteer judges and 300 coaches are needed for a successful competition. If you are interested in either coaching or volunteering, an average of 6 hours of your time is committed.

BBC etc provides commercialization services, including SBIR/STTR training and one-on-one proposal preparation assistance to technology entrepreneurs and early-stage technology companies throughout Michigan.

- Some services require a co-payment by the client.

BBC clients have a 30% better chance of obtaining federal research dollars than the national average.

The Michigan Emerging Technologies Fund (Michigan ETF) is designed to expand funding opportunities for Michigan technology based companies in the federal innovation research and development arena. The fund will matches both Phase I and Phase II SBIR/STTR awards until funds are exhausted.

	- Matches up to 25% of the SBIR/STTR, with a maximum of $25K for a Phase I, and match up to $125K for a Phase II.
	- A company is no longer eligible to apply if they have more than 2 Phase II SBIR/STTR awards in the previous 5 years.
	- A company must raise 1- to -1 3rd party match to collect the full $125K for a Phase II.

The Business Accelerator Fund may be accessed by participating business accelerators statewide to provide specialized business acceleration services and resources regardless of their accelerator client’s geography. 

	Up to $50K may be awarded to companies who need assistance to get to a next step in commercialization.
	Private consultants may be paid with BAF dollars. If you are a private business consultant and are interested in assisting high growth technology companies, please contact the MISBTDC at http://misbtdc.org.
	If you are a company interested in participating, please contact your local SmartZone or business accelerator to determine whether you may be eligible.
	Some company matching dollars are required.