Michigan State University Government Relations reposted this
Today, Governor Gretchen Whitmer signed bipartisan legislation to create the Michigan Innovation Fund, a $60M program designed to support startups, grow the economy, and establish sustainable, long-term funding for Michigan’s innovators. This is a historic investment in early-stage venture capital. By supporting nonprofit and university-backed funds, this initiative will empower startups to thrive here in Michigan instead of seeking funding elsewhere. “This bipartisan achievement is the first step toward establishing sustainable funding pathways for Michigan's most promising startups and innovators," said Jeff Wesley, Executive Director of Ventures at the MSU Research Foundation, which manages Red Cedar Ventures and Michigan Rise Pre-Seed Fund III. "By leveraging our existing ecosystem and creating new evergreen funds, we're investing in Michigan's long-term economic growth and innovation leadership.” Thank you to Governor Whitmer, Representatives Farhat, Hoskins, and VanWoerkom, and the entire Michigan Legislature for their leadership. Congratulations to all the partners who are helping make this vision a reality! Read the full news release here: https://bit.ly/3WhtpbM
