On Jan. 23, the Michigan Strategic Fund approved $1.7 million to support various entrepreneurial startup communities around the state.
The Central Michigan University Research Corporation was included in that list.
According to a press release from the Michigan Economic Development Corporation, CMURC will be receiving a portion of funds allocated to the 2015 and 2016 Business Incubator Gatekeeper grants. The $874,000 portion of the fund will be allocated between 12 entrepreneurial communities, including Ann Arbor SPARK East and the Lansing Economic Area Partnership.
Established in 1999, CMURC works with the CMU and Mount Pleasant communities as a "smart zone," or a place where experts within higher education and local businesses can collaborate on ways to promote the local economy.
"(Collaboration resources) are essential in providing our state’s entrepreneurs the necessary support needed to spark innovation and spur the business economy,” said Fred Molnar, vice president of Entrepreneurship & Innovation for MEDC.
The funding is intended to help entrepreneurs gain access to the resources offered by Michigan's "smart zones," including:
Business accelerator services
Business development mentoring
Incubator/wet lab space
"Michigan remains a fertile environment for entrepreneurs to realize their dreams and to start and grow a business,” said Marilyn Clark, CEO at MTEC SmartZone.
Clark pointed out Michigan's commitment to innovation and believes this approval of funding is reinforcing the importance of entrepreneurs on the state's economy.