Central Michigan University trustees have reauthorization a $500,000 annual subsidy to Central Michigan University Research Corporation.
With the continued support from the university, the subsidy will authorize an additional five years of funding through June 2024.
“In the last five years, CMURC has been able to expand programs and cowork spaces from the Mt Pleasant SmartZone to Bay City and Saginaw,” said Erin Strang, president and CEO of CMURC. “It is due to continuous support of our stakeholders that allows us to be able to deliver the services and execute the Michigan Strategic Fund initiatives.”
CMU President Bob Davies said that the dedicated funding reaffirms the strong support that exists between the university and the business community.
“The ongoing relationship between Central Michigan University and CMURC has grown the entrepreneurial community throughout the Great Lakes Bay Region and provided collaboration opportunities for CMU faculty, staff, students and alumni,” said Davies, who also chairs the CMURC board.”
CMU and CMURC began the funding agreement in September 2004 when the Board of Trustees initially authorized a $500,000 annual subsidy to CMURC for the period September 2004 through June 30, 2009. In July 2009, the subsidy was reauthorized for another five-year period through June 30, 2014. In June 2014, the subsidy was again reauthorized through June 30, 2019.
CMURC is a professional coworking space with accelerator programs focused on product and strategic development for entrepreneurs to positively impact the economy in the Great Lakes Bay Region. It brings together local, regional and statewide partners to accelerate the success of entrepreneurs, growing businesses, and jobs by leveraging the resources of Central Michigan University, the Mount Pleasant SmartZone, and the Michigan Economic Development Corporation’s 21st Century Jobs Trust Fund.