Central Michigan University Research Corporation has been reauthorized for continued Michigan Strategic Fund support. CMURC’s competitive accelerator program, which provides strategic development for small business owners and product ideas, continues to make business dreams a reality and help drive economic change in communities across the region.
The Right Choice accelerator program is unique to CMURC. Launched in 2013, CMURC’s Right Choice Program accepts four of the most promising entrepreneurial ideas each month. It also incorporates a crowdfunding platform that has enabled individuals to raise more than $88,000 toward essential business needs.
“Year over year, we analyze and evolve our programs specifically focusing on business sustainability,” CMURC President + CEO Erin Strang said.
In the last five years, Strang and her team have assisted entrepreneurs in forming 171 new companies, creating 493 jobs, obtaining 49 patents and commercializing 40 new products. CMURC’s work with businesses has generated more than $25 million of capital in the Great Lakes Bay Region.
The success of their clients — from the newly-formed to more established small businesses — has earned the business accelerator recognition as one of the top-performing Michigan SmartZones. Of the companies served by CMURC, 84 percent are still pursuing growth CMURC — a success rate above the U.S. Small Business Administration’s two-year national average of 66 percent.
“This Michigan Strategic Fund award is critical to our ability to assist companies at every stage of a business in a way that transforms the surrounding community,” Strang said.
In addition to programs that guide entrepreneurs through the development of a new product or business expansion, CMURC offers regional coworking in Mount Pleasant, Uptown Bay City and, later this year, Downtown Saginaw.
The combination of its coworking spaces and programs make CMURC a hub for starting a business, accelerating business growth or collaborating across industries.