LANSING — Four mid-Michigan business incubators will receive funding from the New Economy Division of the Lansing Economic Area Partnership, the capital region’s economic developement agency announced Thursday.
Earlier this year, LEAP said business incubators were asked to submit proposals to receive funding to better align themselves under one curriculum model. The chosen incubators have been awarded $4,000 to support unique programming, offset costs for operation, or to purchase equipment.
The awarded incubators are the Allen Marketplace, an agriculture-based incubator located on the east side of Lansing; Incu-Bake, a food product incubator located in Delhi Township; the MARC (Meridian Area Resource Center), a small business incubator located in Meridian Township; and the New Economic Opportunity (NEO) Center, a private small business incubator on the north side of Lansing.
Each incubator has completed a memoradum of understanding to solidify the adoption of best practices in business incubation, to help ensure long term sustainability of all of the incubators within the Lansing region.
“Each incubator is unique and offers a plethora of support resources to their tenants,” said Quin Stinchfield, business incubation manager at LEAP. “We want to make sure these incubators continue on their trajectories for success and provide them support where they feel they need it.”
Added LEAP president and CEO Bob Trezise: “Our international Lansing region continues to rapidly build a brand new, entrepreneurial, and business startup culture. This is the No. 1 way to convince younger talent, especially that of Michigan State University, that our region is the kind of creative, fun metropolitan climate they seek. Support of our incubators is one key piece to a very big puzzle.”
This LEAP grant is ongoing and new grants will be available each fiscal year. The grants come from investors in LEAP. A small group of business leaders have formed the Regional Incubation Network Steering Committee and will continue to develop the RIN with in depth incubation leadership participation.
More about LEAP at www.purelansing.com.