DETROIT — Invest Michigan announced that entrepreneurs can now seek an investment through the Michigan Pre-Seed Fund 2.0, a statewide investment fund of $6.8 million aimed at supporting high-tech early stage companies.
Companies developing technologies in the areas of advanced automotive, manufacturing and materials, agricultural technology, alternative energy, homeland security and defense, information technology, life sciences and other innovative technologies are invited to discuss their financing needs with Invest Michigan.
“The Michigan Pre-Seed Fund allows us to provide financial backing and strategic guidance to innovative entrepreneurs and to grow businesses in the state of Michigan,” said Charlie Moret, president and CEO of Invest Michigan, which is based in Detroit. “We want early stage high tech startups, including those not currently in Michigan, to know that our state is a great place to build and sustain their companies.”
Michigan Pre-Seed Fund 2.0 is funded by the Michigan Strategic Fund and administered by the Michigan Economic Development Corp., the state economic development agency. It’s managed by Invest Michigan, a Michigan nonprofit that manages funds associated with early-stage technology-based companies as well as university research associated with transferring technology at the earliest stages into commercial markets.
The new fund will have $5.8 million to invest into high-tech startup companies and $1 million dedicated to the University Commercialization Fund to help universities transfer technology to the marketplace.
For more information on the Michigan Pre-Seed Fund 2.0, visit www.michiganpreseed.info.