©2016 Michigan Economic Development Corporation

Entrepreneurship

News-Entreprenuership
  • By the numbers
    • 129venture-backed companies in Michigan (70% increase in last five years)
    • 44% of Michigan VC companies in IT
    • 3ranking for Detroit as most surprising cities for tech jobs
    • 4ranking for Troy as among nation's top small-to-mid-size city to start a business (1)
    • 129venture-backed companies in Michigan (70% increase in last 5 years)
    • $1.7billion in capital under management for Michigan-based VC firms (45% increase in the last 5 years)
    • $4.8billion under management in Michigan(including outside Michigan-based firms) of which 74% has been invested in startups, and 23% is capital available to fund new startups
    • $2.90 of investment is attracted outside of Michigan for every $1 invested in a Michigan startup company by a Michigan-based VC firm
    • 1Michigan is first in highest research spending-to-venture capital investment ratio in the nation. For every $1 invested in venture capital in the state $149 is investment in research in Michigan
    • $2.1billion in R&D expenditures collectively at Michigan State University, University of Michigan, Wayne State University in 2013; up 51% since 2007.
    • Source: (1) Entrepreneur magazine; Michigan Venture Capital Annual Research Report, 2014-15 (Feb. 2016)