Michigan’s legislature funded $60 million to support start-up companies, founders and funds, encouraging entrepreneurship across the state.
The Michigan Innovation Fund awarded Grand Valley State University a $1.6 million Evergreen Fund for the Grand Valley Research Corporation, a non-profit supporting GVSU’s educational and scientific activities.
“This Evergreen Fund will allow Grand Valley to invest in promising Grand Rapids area startups and early-stage technology firms as part of our central role in Grand Rapids future as a premier Midwestern tech hub.”
Dawne Bell is the Executive Director of Economic Development and Public/Private Partnerships at GVSU.
“And it's evergreen because the return on investment from those startups that succeed will be perpetually reinvested in entrepreneurs in our community.”
Bell explains that the funds will be a central component of the university’s Blue Dot Lab which will break ground next year.
“Think of Blue Dot as a place where innovators can take ideas and make them a reality through partnerships with students, with businesses, with entrepreneurs and faculty members. We know one of the key barriers for entrepreneurs and early-stage startups is access to capital, so this is about Grand Valley partnerships to help start and grow businesses in West Michigan. “
Bell says the program will launch quickly.
Those interested in applying can watch for updates on the Grand Valley Research Corporation website.
