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The primary purpose of the Limited Partnership is to invest in equity or equity securities of privately held companies. Entities that meet the following SEC definition of a Fund will be considered for investment. These include, but are not limited to:
SBVCP will focus on support of technology based small businesses aligned with the MEDC Strategic Plan. The MEDC’s statewide and regional impact focus industries include Mobility and Automotive Manufacturing, Advanced Manufacturing, Engineering, Design and Development, Life Sciences and Medical Devices, Technology, Professional and Corporate Services, Agribusiness, Tourism and Outdoor Recreation Industry, Logistics, Financial Services, other Manufacturing, or any other innovative technology sectors that drives regional impact. The Fund must be able to show how they will create jobs and commercialize product(s) within one or more of the competitive edge technology sectors where Michigan has a distinct competitive advantage to drive sustained, long-term economic growth as well as tools and sustainment programs in sectors that drive regional impact.
Additional requirements of the SBVCP include but are not limited to the following:
Venture funds seeking to apply must meet all the following minimum criteria:
Applications will be accepted during a three-year open period or until the budget is exhausted. Please submit the following information to be considered:
These documents should be downloaded, completed, and emailed back to SBVCP@Michigan.org. Incomplete proposals will not be accepted or reviewed.
Applicants will be evaluated using the following criteria:
The evaluation factors are approximately equal in importance. Funds that invest into socially and economically disadvantaged individuals (SEDI) owned companies and/or very small businesses (VSBs), as defined by US Treasury, will be provided additional consideration.