Grand Valley State University’s Muskegon Innovation Hub is resource for area businesses and entrepreneurs receiving a nearly $2 million grant.
The state of Michigan is investing millions of dollars supporting small businesses
Grand Valley State University’ Muskegon innovation Hub was one of 27 organizations selected by the Michigan Economic Development Corporation which oversees the Small Business Support Hub. It’s a program designed to strengthen small businesses with technical and service assistance. It also focuses on the MEDC’s desire to regionally “cultivate a more inclusive, accessible and effective entrepreneurial ecosystem.”
The Muskegon Innovation Hub is receiving $1.7 million. Additional funding for helping entrepreneurs and businesses reach their potential in Muskegon, Oceana, Newaygo, Mason and western Kent and northern Ottawa counties. The innovation hub focuses on coaching, funding, and networking.
Kevin Ricco is director of the Muskegon Innovation Hub. He said, “There are a number of grant programs that exist at the state level to help high tech companies. But then there are a lot of other entrepreneurs and small businesses that struggle to find funding and help. This is going to give us an opportunity to help that segment that doesn't have another alternative.”
Ricco said $200,000 will be set aside providing financial assistance.
Money from the Small Business Support Hub is an appropriation from the American Rescue Plan Act.