The Michigan Strategic Fund (MSF) Board approved an additional $1.4
million to be allocated to the Michigan Emerging Technologies Fund
(ETF) managed by the Michigan Small Business and Technology
Development Center (MI-SBTDC) in partnership with the Michigan
Economic Development Corporation. The ETF provides commercialization
funding to match federal SBIR/STTR awards for technology-based
Michigan companies.
The Michigan ETF matches 25 percent of phase I awards up to
$25,000, and 25 percent of phase II awards up to $125,000. The ETF
awards are grants and award dollars must be used to help bring
Michigan projects to commercialization.
“The ETF grants are being used to hire key staff, protect
intellectual property, build facilities for production and beta
testing with new customers,” stated Phil Tepley, ETF program
manager.”
Since the MI-SBTDC took over the program in
February 2008, it has awarded 64 ETF awards for a total of about $3.2
million. Companies report that the program has enabled them to create
and retain 104 jobs and raise an additional $5.5 million.
“With Michigan ETF support, our company was able to secure a
scientist with cellular imaging skills which accelerated our efforts
in establishing the mechanism of action of our novel
insulin-sensitizing agents,” said Rolf Kletzien, founder of Metabolic
Solutions Development Co.
About Michigan SBTDC
Technology Team
The Michigan Small Business and Technology
Development Center Tech Team is a state-funded initiative that enables
entrepreneurs to bridge the gap between technology development and
commercialization. The team consists of 10 consultants with proven
track records of technology commercialization. In 2010, the Tech Team
assisted 369 technology companies and entrepreneurs, assisted in
raising $66.5 million for the companies served, and accelerated job
growth throughout the Michigan economy.
About Michigan SBTDC
The Michigan Small Business &
Technology Development Center provides counseling, training and market
research for Michigan’s new business ventures, existing small
businesses, expanding new businesses, new technology companies, and
innovators. The MI-SBTDC is located at the Grand Valley State
University Seidman College of Business in Grand Rapids, Michigan. As
host of the MI-SBTDC State Headquarters, the Seidman College of
Business oversees the 12-region MI-SBTD network. Entrepreneurs and
small business owners may access the services of their nearest
MI-SBTDC by calling (616) 331-7480 or visiting www.misbtdc.org.
For more information, contact Jennifer Deamud at the MI-SBTDC at
(616) 331-7480.
