Small Business Request for Information

MEDC collected expert industry guidance through this Request for Information (RFI) for programs, services, and/or investment strategies that foster resilience and growth acceleration for Michigan small businesses. The submission period is now closed.

Introduction:

The Small Business RFI process collected innovative, scalable, and implementation-ready solutions from for - and non-profit industry leaders – either as individuals, or as part of a strategic consortium, to best serve:

  • Small-Medium Manufacturers (SMM)
  • Second Stage Companies (SSC)
  • Capital Needs for Small Businesses
  • Other small business types

Objective:

Through this RFI, in the three focus areas identified above, we collected input and information on:

  • Effective models for accelerating growth to small and medium-sized companies
  • Opportunities to expand or improve current resources and/or service delivery
  • Means for better peer-to-peer, industry, and/or entrepreneurial ecosystem partner coordination and connectivity
  • Capital tools to overcome specific industry barriers and/or gaps in market
  • New initiatives to enhance impact 

The RFI was not a solicitation for funding or a commitment to issue a future solicitation. It was strictly for informational and planning purposes.

Background:

The RFI leveraged insights from recent direct and indirect small business development initiatives, as well as past and ongoing research and data analysis of the MEDC and other parties. 

For the purposes of this RFI, please refer to the following definitions:

  • Small Business: for-profit entities with 500 employees or fewer and identifiable by one or more 6-digit North American Industry Classification System (NAICS) code(s)
  • Microbusiness: for-profit entities with 0-10 employees
  • Second Stage Company: for-profit entities with 11-99 employees
  • Startup Company: 0-3 years in operation
  • Early-Stage Company: 0-5 years in operation
  • Microbusiness: for-profit entities with 0-10 employees
  • Small to Medium Manufacturers: for-profit advanced manufacturing entities with fewer than 500 employees and less than $40 million in annual revenue
  • Reindustrialization: the process of revitalizing an industrial base, by modernizing production, investing in new technologies, strengthening supply chains, near- and/or re-shoring manufacturing
  • Industry 4.0 Technologies: hardware/software related to the following, but not limited to:
    • Additive Manufacturing & Advanced Materials
    • Artificial Intelligence
    • Big Data
    • Cloud Computing
    • Cybersecurity
    • Modeling, Simulation, Visualization & Immersion
    • Robotics & Automation
    • Connected Worker Platforms & Wearables
    • Silver Tsunami: a metaphor for the massive demographic shift caused by the aging of the Baby Boomer generation and increased longevity; Baby Boomers, who own a significant portion of Michigan small businesses, are reaching retirement age, leading to an unprecedented transfer of business ownership or permanent closure
    • Capital Tools: Including, but not limited to: business credit cards; revolving lines of credit; equipment financing; purchase order financing; merchant cash advances; revenue-based financing; equity-based financing; private equity financing; angel investments

How to Submit Information:

The RFI closed on April 10, 2026 and is no longer accepting submissions.  

Questions?

Please review the Frequently Asked Questions document.