Central Michigan University Research Corp. and the investment group GENE-5 are expanding into Midland, bringing a new coworking space to mid-Michigan. The location of the Midland coworking office has not been announced.
CMURC is a professional coworking space with programs focused on product and strategic development for entrepreneurs. It has locations in downtown Saginaw’s SVRC Marketplace building, at Uptown Bay City and in Mount Pleasant. It plans to expand into Midland early next year.
Business owners and entrepreneurs seeking office and meeting space can pay for access to CMURC’s shared workspaces, assigned desk space or private office space, depending on their needs.
CMURC promotes collaboration with universities, industry, research organizations, government and other community institutions. It leverages the resources of Central Michigan University, the Mount Pleasant SmartZone and the Michigan Economic Development Corp. 21st Century Jobs Trust Fund, a press release states.
“The accelerator program is a three-phased, milestone-based program designed to provide the framework with accountability to entrepreneurs to go from idea to commercialization,” CMURC President and CEO Erin Strang said in a statement.
In the past six years, 187 entrepreneurs entered into phase 1, with 91 of those progressing to phase 2, 45 companies advancing to phase 3, resulting in 39 commercialized products with sales. Once entrepreneurs have completed the program, GENE-5 will serve as the next level of resources toward investment and strategic partners.
“Our region is vibrant and full of potential. We have worked with CMURC in the past and believe that this partnership is essential to accelerate business and community growth,” David Dittenber, co-founder of GENE-5, said in a statement. “We want to be the catalyst and lead the way to a healthier and more prosperous future one innovation at a time.”
In a statement, Tony Stamas, president and CEO of the Midland Business Alliance, said the organization was “pleased to hear of CMURC’s plans to open a location in Midland.”
“CMURC brings a wealth of knowledge and resources to Midland and will add valuable tools for entrepreneurship and innovation in our community,” he said in the statement.