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Tuesday, 10 January 2012 09:56

MEDC seeks new $3M VC matching fund for tech companies

Written by  MiBiz Staff
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LANSING (MITechNews.Com) — The Michigan Economic Development Corporation would operate a new $3 million venture capital matching fund for the state’s technology companies under a proposal outlined in December to the Michigan Strategic Fund Board. Mike Psarouthakis, VP of business acceleration for the MEDC, said initial proposed funding would total $3 million, but the hope is to get a commitment of $10 million over the next three years.

Technology companies would have to be based in Michigan and follow all Strategic Fund reporting requirements to qualify.

Read 1961 times Last modified on Monday, 13 August 2012 15:11

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