Governor Rick Snyder on Tuesday signed legislation authorizing the broadened emphasis to the prior focus on four sectors: alternative energy, life sciences, homeland security and defense, and advanced manufacturing and materials.
“The expanded eligibility of the 21st Century Jobs Fund helps us support growing companies in a number of leading tech sectors,” said MEDC President and CEO Michael A. Finney. “Early-stage companies require seed capital and a robust entrepreneurial ecosystem . These initiatives will help us build and sustain cutting-edge businesses and in turn, generate new private investment and create new jobs for Michigan.”
ENTREPRENEURS: One RFP seeks Entrepreneurial Support Services input from non-profit entities for programs to enhance and sustain Michigan’s entrepreneurial ecosystem through business acceleration services, business incubation, entrepreneurial talent development and early-stage business counseling in competitive-edge technology sectors. On Wednesday, the Michigan Strategic Fund (MSF) approved $12 million in funding for this initiative.
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The RFP is online at http://www.michiganadvantage.org/2011EntrepreneurialServicesRFP/ as are specific details and requirements of the application process. Proposals are due by June 3, 2011.
EARLY STAGE: The MSF also approved $13 million to fund a second RFP for an innovative Early Stage seed capital initiative. It will solicit seed investment funds and non-profit entities that will provide capital to new companies during the investigation and feasibility phases of innovation and technology development. The RFP is available online at http://www.michiganadvantage.org/2011EarlyStageFundingRFP/ along with specific details and requirements of the application process. Proposals are due by June 3, 2011.
The 21st Century Jobs Fund, a 10-year initiative begun in 2005, is an MSF program that is administered by the MEDC to accelerate the growth and diversification of Michigan’s economy. The MEDC, a public-private partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information on the MEDC’s initiatives and programs, visit the website at www.MichiganAdvantage.org
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