July 14, 2025
FOR IMMEDIATE RELEASE
July 14, 2025
Contact: press@michigan.gov
Gov. Whitmer Announces Awardees of First-Ever Michigan Innovation Fund
Additional awardees encouraged to apply for remaining funds
LANSING, Mich. – Today, Governor Gretchen Whitmer announced the initial eight recipients of the first-ever Michigan Innovation Fund (MIF) signed into law earlier this year. With bipartisan support from elected officials in the state Legislature, the fund received a $60 million appropriation to distribute across existing early-stage evergreen venture funds in Michigan, emerging evergreen funds in Michigan, and others who contribute to the entrepreneurial ecosystem in Michigan, especially toward startup companies, founders and funds.
“Michigan is a state of makers and doers, and we established the bipartisan Michigan Innovation Fund to unleash their entrepreneurial energy and keep growing our economy,” said Governor Whitmer. “Today’s awardees will harness these new resources to continue pursuing their big ideas in Michigan, leading to more jobs, more companies, and more investments in our communities. Just last week, we were named a top 10 state for business for the third year in a row, achieving our highest ranking ever. We will build on this momentum by continuing to empower Michigan innovators and make our state the best place to have an idea and build something real.”
“Michigan has always been a beacon of innovation and resilience,” said Lt. Governor Garlin Gilchrist II. “I was proud to champion the first-ever Michigan Innovation Fund, to empower Michigan’s brilliant entrepreneurs and visionaries to push the boundaries of what’s possible and grow our economy. I can’t wait to see how these awards produce groundbreaking ideas that will shape our future. Let us continue to Stand Tall, tell Michigan's story of ingenuity, and show the world that our state is the best place to create and build the future.”
“Today’s announcement is a bold proclamation to a rapidly growing, highly sought-after entrepreneurship and innovation community that Michigan is willing to put in the work to make this community’s dreams a reality right here in our great state,” said Ben Marchionna, Chief Innovation Ecosystem Officer at the Michigan Economic Development Corporation (MEDC). “It is my hope this announcement is the first of many to come, not only for the state’s support of this industry, but for all of Michigan to see what Michigan is capable of when we invest in the entrepreneurial and innovation ecosystem.”
The law specifies funding be divided across certain cohorts. Today’s announcement includes Existing Evergreen Venture Funds ($48 million) – those with a longstanding record of successful investment – and Emerging Evergreen Funds ($4.8 million) – those with a solid base of support but who are newer to the entrepreneurial ecosystem. Additional fund recipients will be announced at a later date for those who are not affiliated with a higher education system or local economic development organization.
To that end, awardees were made in the following regions and divisions:
Existing Evergreen Funds:
Emerging Evergreen Funds:
The $7.2 million remaining of the total $60 million appropriation will be used for entrepreneurial support programs and a pitch competition that is currently accepting applications through noon on July 16, 2025. Applications received after this deadline and by August 8, 2025, at noon, will be reviewed as part of a second and final round, pending availability of remaining funds. For more information on applying for the remainder of funds, visit the Michigan Innovation Fund website.
“Today’s announcement is a clear demonstration of our commitment to the ‘Make it in Michigan’ economic development strategy as it relates to both People and Projects,” said Quentin L. Messer, Jr., CEO of the MEDC and president of the Michigan Strategic Fund Board. “We remain grateful and committed to creating the environment for a higher probability of success for all involved in this process – from our governor to the state legislature, the entrepreneurs and startups who continue to bet on Michigan and our team at the MEDC, and partners from academia and elsewhere throughout Michigan’s increasingly vibrant entrepreneurial ecosystem.”
WHY IT MATTERS: In Fiscal Year 2024, MEDC support helped bring 1,167 new products or services to the marketplace while directly helping 168 new startups and entrepreneurs launch their business in Michigan via programs like the Michigan Translational Research and Commercialization (MTRAC), Technology Transfer Talent Network (T3N), and the Michigan Innovate Capital Fund.
The MEDC also supports SmartZones – which offer localized, low-cost co-working spaces for entrepreneurs, researchers, and startups to receive business mentoring, conduct feasibility studies, and more – as well as Small Business Support Hubs – which offer similar services on behalf of existing and emerging small business owners – to promote entrepreneurial activity.
Despite this, a recent report by Business Leaders for Michigan found that Michigan’s innovation economy ranks 32nd in growth funding compared to other states – more specifically, 36th in seed funding, 23rd in early-stage funding, and 35th in late-stage funding. The MIF is a newer economic development tool that allows Michigan to keep top-notch talent in-state rather than lose them to places where funding opportunities are more consistent and plentiful.
ADDITIONAL QUOTES OF SUPPORT
ID Ventures (Detroit)
"The state’s investment in Evergreen Funds through the MIF is a critical step to building Michigan’s startup infrastructure for the long term,” said Patti Glaza, EVP Ventures at Invest Detroit. "By channeling early-stage capital into funds that reinvest returns back into new founders, we strengthen local entrepreneurship, retain homegrown companies, and catalyze high‑wage job creation across Michigan. This sustainable, evergreen model ensures that today’s investments continue fueling tomorrow’s innovation economy.”
Ann Arbor SPARK (Ann Arbor)
“In Ann Arbor, we put a premium on innovation and ingenuity. In a given year, Ann Arbor SPARK will connect 450+ entrepreneurs with the resources or funding needed to scale, and the Michigan Innovation Fund’s investment will help us reach even more startups, entrepreneurs, and visionaries,” said Mike Flanagan, Vice President of Capital Programs at Ann Arbor SPARK. “One of the most significant things we can do to scale our innovation ecosystem is to show stability and reliability in our investments, and this fund provides us that assurance. We look forward to continuing this work with all who know Michigan is home to the best and brightest eager to thrive.”
U of M Accelerate Blue (Ann Arbor)
“The Michigan Innovation Fund underscores our state’s commitment to supporting founders and advancing a thriving startup ecosystem. With this new support for the Accelerate Blue Fund, we can help more University of Michigan startup founders bring new technologies to market faster and with greater impact,” said Kelly Sexton, Associate Vice President for Research - Innovation Partnerships and Economic Impact at the University of Michigan. “This investment fuels near-term startup growth and strengthens our ability to invest in future breakthrough startups. By providing the capital to invest in a range of high-tech startups, the Michigan Innovation Fund helps diversify Michigan’s economy and positions the state as a national leader in innovation-driven growth.”
MSU Research Foundation (East Lansing)
“Every day at Michigan Rise, we meet founders who are working with passion and purpose to solve problems and make a difference,” said Jeff Wesley, Executive Director, MSU Research Foundation & Michigan Rise. “The Michigan Innovation Fund is more than just funding; it’s a powerful way to uplift Michigan’s entrepreneurs and help turn their ideas into impact. We are proud to play a role in helping founders take those first steps, and we are committed to making sure innovation has the support it needs to thrive across our state.”
Western Michigan BRCC (Kalamazoo)
“The creation of, and funding from, the Michigan Innovation Fund is an essential element of an economic growth strategy that invites the best, most creative minds to not only learn and grow in Michigan, but to stay here and scale while minimizing costs and maximizing efficiency” said Steve Haakenson, executive director of Western Michigan University’s Biosciences Research & Commercialization Center. “These funds will go a long way toward filling a gap for the support of entrepreneurs throughout the State to initiate their big ideas and inventions in a place that’s no stranger to transformative concepts.”
InvestUP (Upper Peninsula)
“The funding from the Michigan Innovation Fund is recognition that rural regions like the Upper Peninsula have the sophistication and capability to be meaningful partners in innovation and entrepreneurship. This distinction is critical given growth follows a culture of innovation,” said Marty Fittante, CEO of InvestUP. “More broadly, this funding directly addresses a big need for investment capital in the entrepreneurial community across Michigan where we already have proof that investing in great, high-growth companies across the state yields significant returns. We are excited to continue deploying capital in creative ways to founders serving the outdoor industry, and others, across Michigan, and are grateful to the Governor, the MEDC and legislators – including members of the U.P. delegation – for this opportunity."
20Fathoms (Traverse City)
“Access to capital is a particular challenge for entrepreneurs and startups here in the Traverse City region,” said Craig Wesley, Executive Director at 20Fathoms. “The Michigan Innovation Fund is an important step in a larger process to get much-needed funding to this region, and across the state. We look forward to using these funds to help accelerate the growth of tech startups, entrepreneurs, and scalable businesses whose innovations create jobs that build community resilience in Northwest Michigan.”
Grand Valley Research Corp. (Grand Rapids)
"As key partners in West Michigan’s tech growth strategy, GVSU is well-positioned to focus on Michigan startups that are engaged in high-tech industries," said Grand Valley State University President Philomena V. Mantella. "The evergreen fund will function as a key financial engine for our Blue Dot Lab, which will serve as a central node for innovation commercialization, and founder support and student engagement, allowing us to scale investment reach and advance Michigan’s innovation economy."
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