TLDR:
– The Michigan University Innovation Capital Fund is now accepting investment applications for Michigan startups
– The fund focuses on investing in early-stage technology and life sciences companies operating within the state, with initial investments ranging from $50,000 to $250,000
A new pre-seed venture fund at the University of Michigan’s Innovation Partnerships, the Michigan University Innovation Capital Fund is now open to receiving investment applications from Michigan startups looking to commercialize technologies from the state’s 15 public universities. With $5 million under management, the fund will primarily target early-stage technology and life sciences companies in Michigan seeking their first investment capital.
The establishment of the fund was made possible through funding from the Michigan Strategic Fund and Michigan Economic Development Corp. The fund also supports the creation of the Michigan University Innovation Capital Consortium, a collaborative platform bringing together leaders from university technology transfer and university-managed pre-seed venture funds to support the MUICF and university research-based startups.
The MUICF aims to invest in at least 17 companies in its first two years and has already garnered support from members of the consortium representing universities such as U-M, Western Michigan, Michigan State University, Wayne State University, Grand Valley State University, and Michigan Technological University. The consortium will provide advisory and strategic support to the fund and its portfolio companies to foster innovation and economic growth in Michigan.
