As part of a state-designated SmartZone, the Muskegon Innovation Hub (the Hub) helps clients pursue competitive state funding opportunities that provide critical resources for budding or growing businesses. The Hub helps multiple businesses each year harness the funding necessary to move towards commercialization. The Hub can assist eligible businesses in pursuing the following programs. Interested in applying? Contact us for more information.
Business Accelerator Fund
The Business Accelerator Fund provides specialized business services to early stage companies commercializing advanced technology. Accelerator services focus on milestones such as positioning a company to attract private capital, develop a stronger marketing strategy, or secure its first customer. Funding is specifically used to contract service providers such as consulting firms, law firms, manufacturers, engineers, or other professionals with relevant expertise.
Michigan Pre-Seed Fund 2.0
The Michigan Pre-Seed Fund 2.0 works with entrepreneurs to build high-tech sustainable enterprises by connecting startups to resources, providing capital, and engaging with entrepreneurs to help them grow their businesses. The Fund offers equity, debt or convertible debt investments, depending on the stage of the company and the co-investors participating in the financing. A minimum of 1:1 in matching funds is required. The three types of investments available are micro-investments of up to $50,000; pre-seed debt, convertible debt or equity investments of up to $150,000; and follow-on investments of up $150,000.
Michigan Pre-Seed Investment Program
The Michigan Pre-Seed Investment Program supports high-tech start-ups as they near commercial viability by providing access to early-stage capital. These funds are designed to support this critical stage in the development lifecycle to prepare companies for follow-on private investment. The Pre-Seed fund investment is a convertible note up to $250,000 and eligible companies must have less than $1 million in revenues and third party funding. A 100% match of funds is required from a third party source. Eligible companies will need to be past the concept development and analysis phase.