Capital Resources
The Initiative works to connect entrepreneurs, start-ups and small businesses with the capital resources critical for growth. Depending on where an idea or concept is in the product development process, the Initiative can assist inventors and entrepreneurs in securing needed capital through a variety of sources.
The Funding Continuum
No matter where a company is in its life cycle, the Initiative can help navigate the funding process every step of the way by providing connections to appropriate resources available to West Michigan inventors and entrepreneurs.
Self-Funded or Friends, Family, and Financers: Most of the entrepreneurs that are clients of the Initiative fund their very early-stage ideation activities personally, or from close investors who believe in the product or service.
Federal and State Grants: Once a client's idea has developed to the point where the value proposition must be strongly demonstrated, the Initiative is able to provide support through access to state and federal grant program funds. These funds are available to help inventors move their ideas through proof-of-prototype stage.
Emerging Technologies Fund (ETF)
Small Business Innovative Resources (SBIR) matching funds
Economic Development Jobs Training Grants (EDJTF)
Michigan Initiative for Innovation and Entrepreneurship (MIIE)
Pre-seed: When an entrepreneur approaches concept development, the Initiative has access to the State of Michigan's Pre-Seed Capital Fund, which focuses on providing "gap" funding to the best technologies and products in development across the state.
The Pre-Seed Capital Fund, a collaborative effort of Michigan's 15 SmartZonesSM, is an equity fund that invests in high-tech, high-growth start-up companies to support business formation and acceleration. Through this fund, eligible companies are able to receive an investment of $50,000 to $250,000 alongside a matching investment from another investor.
Angel Investor Funding: The final stages of product development and launch are critical: the idea is well on its way to becoming a market-ready product or service. The Initiative can help by working with the entrepreneur to connect with funding sources that specialize in products at this stage in the development cycle. In West Michigan, the Grand Angels are an important funding source for pre-A or A-Round products.
Venture Capital Investment: When a product moves to actual market production, the Initiative can provide access to organizations able to help finance significant launch costs, or Venture Capital funds. See a complete listing of the venture capital firms in Michigan.
