The Business Accelerator Fund is a 2 year, $3 million fund that may be accessed by participating business accelerators statewide to provide specialized business acceleration services to companies commercializing advanced technology. The program was developed with input from 13 Michigan business accelerators and will leverage that network to spread best practices statewide and in tandem with the Michigan Small Business and Technology Development Center’s (MI-SBTDC) business consulting, entrepreneurial education, and information based planning services.

The Business Accelerator Fund is a 21st Century Jobs Fund Program managed by the MI-SBTDC in partnership with the Michigan Economic Development Corporation and Michigan’s network of business accelerators.

 

Objectives:

• Make business accelerator services available to viable early stage technology companies wherever they are located in the state
• Make resources available to business accelerators to support technology companies that are targeted as high priority in their region’s success
• Build lasting collaborations between early stage tech companies and strategic partners including business accelerators and incubators, talent, consultants, manufacturers, engineering and software firms, contract research organizations, and university researchers
• Provide business consulting and commercialization assistance to companies that have high potential to create jobs and serve as a catalyst for large multiplier effects

 

Examples of accelerator services include:

• Engagements with business consultants (market study, financial model, marketing plan)
• Engagements with legal firms (intellectual property assistance, private placement memorandum, freedom to operate, licensing agreements)
• Engagements with universities (technology development, internships)
• Engagements with manufacturers, software, and engineering firms (prototypes, design engineering, software development, product testing, technology/product development)

 

Company Eligibility and Selection

Business Accelerators will select companies with high potential for success and ability to create positive economic impact in the region.  Accelerator Engagements will be awarded through a competitive review process.  No company may receive more than $50,000 in accelerator services.  Companies receiving more than $15,000 in accelerator services will pay a 10% fee to the business accelerator. Business Accelerators may not use BAF funds to assist companies that have raised more than $1 million in private sector capital or have more than $2.5 million in 12 month trailing revenue.  Business Accelerators may each have their own eligibility requirements and selection criteria.

 

Qualified companies interested in receiving business accelerator services should contact their nearest BAF Participating Accelerator.

	Ann Arbor SPARK Lori Emerson Business Accelerator Manager (734) 527-9153 lori@annarborusa.org		Automation Alley Kelly Kozlowski Business Accelerator Client Coordinator (248) 457-3229 kozlowskik@automationalley.com
	CMU Research Corporation Lisa Wilczak Financial Analysis Manager (989) 774-7513 lisa.wilczak@cmich.edu		Lansing Economic Area Partnership Jeff Smith Smart Zone Co-Director (517) 420-1670 smithj@LeapInc.biz
	Lakeshore Advantage Randy Olinger Manager, the BioBusiness Accelerator at MSU (616) 395-8974 randy.olinger@lakeshoreadvantage.com		Macomb – OU INCubator Mike Brennan Business Commercialization & Capitial Investment Advisor (586) 884-9320 mkbrenna@oakland.edu
	MAREC Arn Boezaart Director (616) 331-6901 boezaara@gvsu.edu		METC Smartzone Jonathan Leinonen Program Director (906) 487-7004 jleinonen@mtecsz.com
	OU Inc. Lori Kerch CPA Senior Finance and Investment Capital (248) 648-4800 kerch@oakland.edu		Sault Ste. Marie Advanced Resources and Technology (SSMart), Inc. Eric Becks President and CEO (906) 635-2301 ebecks@ssmartzone.com
	Southwest Michigan Innovation Center Madelyn Pinder Business Services Manager (269) 353-1823 mpinder@kazoosmic.com		Tech Town Sha'Kara Mack  (313) 879-4486 shakara@techtownwsu.org
	Mid Michigan Innovation Center Chris Moultrup Program Director (989) 205-4522 moultrup@mmic.us		Center for Entrepreneurship & Innovation Shorouq Almallah Business Accelerator Intake Counselor (616) 331-7256 almallas@gvsu.edu
	The Enterprise Group of Jackson, Inc. Amy Torres,Vice President of Economic Development 517-788-4455 atorres@enterprisegroup.org