Business Accelerator Fund
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.
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Ann Arbor SPARK Lori Emerson Business Accelerator Manager (734) 527-9153 |
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Automation Alley Kelly Kozlowski Business Accelerator Client Coordinator (248) 457-3229 |
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CMU Research Corporation Lisa Wilczak Financial Analysis Manager (989) 774-7513 |
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Lansing Economic Area Partnership Jeff Smith Smart Zone Co-Director (517) 420-1670 |
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Lakeshore Advantage
Randy Olinger Manager, the BioBusiness Accelerator at MSU (616) 395-8974 |
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Macomb – OU INCubator Mike Brennan Business Commercialization & Capitial Investment Advisor (586) 884-9320 |
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MAREC Arn Boezaart Director (616) 331-6901 |
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METC Smartzone Jonathan Leinonen Program Director (906) 487-7004 |
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OU Inc. Lori Kerch CPA Senior Finance and Investment Capital (248) 648-4800 |
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Sault Ste. Marie Advanced Resources and Technology (SSMart), Inc. Eric Becks President and CEO (906) 635-2301 |
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Southwest Michigan Innovation Center Madelyn Pinder Business Services Manager (269) 353-1823 |
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Tech Town Sha'Kara Mack (313) 879-4486 |
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Mid Michigan Innovation Center Chris Moultrup Program Director (989) 205-4522 |
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Center for Entrepreneurship & Innovation Shorouq Almallah Business Accelerator Intake Counselor (616) 331-7256 |
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The Enterprise Group of Jackson, Inc. Amy Torres,Vice President of Economic Development 517-788-4455 |
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