Business package announced

Published 6:11 am Friday, February 20, 2004

By Staff
LANSING -- Governor Jennifer M. Granholm announced the state is paving the way to grow Michigan's economy and create jobs by providing matching grants for Michigan businesses applying for federal Small Business Innovation Research (SBIR) grants in sectors supportive of the Michigan Technology Tri-Corridor initiative.
The Emerging Business Fund, a program detailed in the 2004 State of the State address and part of the Governor's 7-point plan to grow Michigan's economy, is prepared to make a total of $1 million available in matching grants of up to $15,000 for Michigan businesses who will use the federal and state dollars for research and development of products they hope to bring to the marketplace.
"The best ideas may die in the research lab or end up somewhere else if entrepreneurs don't have access to early stage capital," Granholm said. "The Emerging Business Fund represents a strong commitment from the state to help new, high-tech businesses take root in Michigan."