Friday, September 12, 2008
Bridget Beckman, MEDC
Appointment raises Michigan's profile among investors
Patricia Brasted,chair of the National Association of Seed and Venture Funds NASVF) and CEO of the Wichita Technology Corporation, today announced that Michigan Economic Development Corporation (MEDC) President and CEO James C. Epolito has been appointed to the NASVF board.
“TheState of Michigan, through the MEDC, has done a great job of creating innovative entrepreneurial programs that help stimulate the economy,” Brasted said. “Jim’s impressive leadership skills will serve our board and the constituents of our organization very well.”
Brasted made the announcement at the organization’s annual conference -- currently taking place in Detroit -- which is expected to draw more than 300 seed and early-stage investors from 40 states and seven countries. The conference is hosted by the MEDC.
“This is a tremendous honor,” Epolito said. “It shows that our work to diversify and transform our state’s economy is producing results. The message we’re sending to new venture investors is clear: Michigan has the talent and determination to grow the high-tech businesses and jobs of the 21st century.”
The NASVF, a U.S.-based association of private, public and nonprofit organizations committed to building their local economies by investing in local entrepreneurs, was formed in 1993. The NASVF has more than 120 members actively involved in capital formation for entrepreneurs.
Brasted said themes for the 2008 conference include the growing role of government in building new companies, portfolio management during an economic downturn and lessons learned by “mature” regions such as Michigan in attempting economic rebirth.
# # #