MI Hub report shows growth, significant investments in incubated companies
The Muskegon Innovation Hub at Grand Valley State University helped to create more than 50 jobs and generated more than $20 million in follow-on investments for its clients in 2018.
The Muskegon Innovation Hub serves as a business innovation center for Muskegon and the Lakeshore that helps businesses and entrepreneurs maximize their growth potential.
In 2018, clients of the Hub:
— Created 58 new direct jobs
— Retained 250 jobs
— Generated $20.7 million dollars in follow-on investments for their businesses and services
— Commercialized 14 new products
— Created 13 new companies
— Expanded 16 companies
— Were awarded six patents, trademarks or copyrights
"2018 was a year of significant growth for our clients here at the Muskegon Innovation Hub," said Kevin Ricco, director of the Hub. "Our clients used our expertise and facilities to help develop not only products and businesses, but ideas. These new companies, products and investments are important for the entrepreneurial environment we are seeing grow along the Lakeshore."
The Muskegon Innovation Hub provides business incubation, coworking space, funding assistance, events and programming to help grow and develop the Lakeshore innovation ecosystem.
For more information, visit gvsu.edu/mihub.