Ann Arbor SPARK to receive $9 million from new state fund supporting startups
Ann Arbor SPARK closed out 2024 celebrating a major coup for Michigan’s entrepreneurial ecosystem: the $60 million Michigan Innovation Fund.
Ann Arbor SPARK closed out 2024 celebrating a major coup for Michigan’s entrepreneurial ecosystem: the $60 million Michigan Innovation Fund.
The 42nd annual Midwest Growth Capital Symposium will take place in Ann Arbor May 23-24, featuring Michigan entrepreneurs Louis Cannon and Dug Song as keynote speakers.
The report found that a majority of local businesses surveyed get their capital from individuals, not banks or venture funds – and they anticipate needing $600 million in capital over the next three years.
The 2020 Ann Arbor Entrepreneurial Ecosystem Report notes 2019 was a record-breaking year for startup investments in the Ann Arbor area, with 35 high-tech startups attracting more than $198 million from venture capital firms.
While the competition receives applications from businesses all over, primarily in Michigan, a large amount of applicants (and past competition winners) are from Ann Arbor.
The former Michigan Growth Capital Symposium will mark a shift to a broader regional focus when it returns on May 14 and 15.
The company, which has Ann Arbor and California offices, recently closed a Series A funding round led by Blue Cross Blue Shield Venture Partners.
Ann Arbor had the most women-founded, venture-backed companies of all the major U.S. metro areas examined in a recent study.
A managing partner of the fund says this is an indicator of the fact that "there are more women-led companies in the pipeline than ever before."
After five years serving Michigan's entrepreneurial community as associate director of the Michigan Venture Capital Association, Emily Heintz is becoming an entrepreneur herself.
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