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State Gives $23M for Michigan Innovate Capital Fund

Monday, Jul 03 2023
Fundraising
Written by 
State Gives $23M for Michigan Innovate Capital Fund Aaron Burden

The state of Michigan has allocated $23 million to the Michigan Innovate Capital Fund, according to a report from Crain's Detroit Business. The fund is intended to help Michigan-based startups and small businesses access capital to grow their operations. The fund is managed by Invest Detroit Ventures, a venture capital firm that focuses on early-stage investments in Michigan-based businesses. The fund has already invested in more than 20 Michigan-based startups since its launch in 2017. 

Opinion:

I think it's great that the state of Michigan is investing in its small businesses and startups. It's a great way to foster economic growth and create jobs in the state. Investing in the Michigan Innovate Capital Fund is a smart move for the state, as it will help businesses access the capital they need to grow and succeed. It's also a great way to attract new businesses to the state, as they will be able to access the resources they need to get started. This is a great way to ensure that Michigan remains a vibrant and prosperous state.

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