The Centers of Innovation (COI) Program was signed into law (MCL 125.2088q) on June 28, 2012. The program's goals are to accelerate the commercialization of innovative technologies in Michigan, through the development of partnerships between private sector, university and national lab, non-profit and government entities. It is intended to help stimulate the development of innovative technology clusters, in areas where the state has competitive advantages in natural resources, workforce, supply chain, intellectual capital, and other assets. The program was formally approved at the July 25, 2012 meeting of the Michigan Strategic Fund (MSF). The MSF Board allocated $7 Million to the program and named the Michigan Economic Development Corporation (MEDC) as the COI Program Centers Manager. The COI Award Process and the Documentation Required of COI Candidates were also approved.
Key provisions of the COI Program include: