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MEDC | Business Accelerator Fund Receives Additional Funding to Build on Support for 53 Companies During Outbreak

MEDC+Michigan+Economic+Development+CorporationBusiness Accelerator Fund Receives Additional Funding to Build on Support for 53 Companies During Outbreak

Following the expansion of the Business Accelerator Fund (BAF) guidelines lasting from April through June – which led to 53 companies being served around Michigan – the state has recently made available an additional $700,000 to the BAF to continue supporting business accelerators in Michigan’s statewide SmartZone network that are serving startups and high-tech companies impacted by the COVID-19 outbreak.

 

 Administered by the Michigan Small Business Development Center (SBDC), the BAF provides a series of grants of up to $50,000 to business accelerators to help high-tech businesses access certain specialized services they need to grow.

 
 
 
 
Michigan Israel Business Accelerator Hosts First Innovation vs. Corona Online Series Event
 
 

The Michigan Israel Business Accelerator (MIBA) and strategic partners from across the state will be hosting the Innovation vs Corona: Creating Opportunities for Today, Tomorrow, and Beyond online kickoff event on August 31, 2020 at 8:30 a.m. EST. This event is the first of the Innovation vs. Corona Online Series that will bring together experts and business leaders in both regions from a variety of industry sectors to discuss economic opportunities for Michigan and technological solutions from Israel amid and post-COVID-19.

 
 
 
 
Whitepaper: Where There’s Chaos, There’s Opportunity: Successful Strategies for Pivoting in the Pandemic
 
 

Michigan is at its best when entrepreneurs see a need and create a solution. When COVID-19 hit the state earlier this year, it was our entrepreneurs that turned a crisis into an opportunity to learn. Business leaders attacking the coronavirus pandemic have mastered multiple lessons as they’ve steered their companies through a COVID-19 obstacle course. In a “We’re in this together” spirit, they’ve risen to the challenges of this health crisis, and now they’re sharing what they’ve learned. Read on for insider tips from those who were able to pivot – and succeed.

 
 
 
 
MEDC Provides COVID-19 Relief for Michigan Small Businesses
 
 

Since a State of Emergency was declared in Michigan on March 10, MEDC and our economic development partners statewide have launched 19 response programs to provide relief to Michigan businesses impacted by COVID-19. The programs have supported more than 3,500 companies across all 83 Michigan counties, helping to retain more than 15,400 Michigan jobs. Click on the button below to learn more about Michigan’s support for small businesses.

 
 
MEDC-Covid19-Relief-0827_600px.png
 
 
 
 
Additional Resources Available Online
 
 

Access additional COVID-19 resources for businesses and communities by visiting michiganbusiness.org/covid19.

Read more about programs supporting economic recovery for Michigan businesses by visiting michiganbusiness.org/covid19response.

Visit michigan.gov/coronavirus to find other valuable resources for employers, workers, residents and communities.

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