Chris Holman welcomes Paula Macpherson, Executive Director, Velocity, Sterling Heights, Macomb County, MI.

Watch Paula and Chris discuss the fueling of Macomb County’s startups! Velocity drives growth with funding, mentorship & SmartZone support. Learn how they make it happen! in the YouTube video shared below:

There were several things Chris wanted to find out during their conversation:

1.Velocity has been a driving force in supporting startups in Macomb County for over 11 years. Can you share some of the key challenges and opportunities you’ve seen in fostering an entrepreneurial ecosystem in this region?

2. You’ve had impressive success in helping businesses grow, such as helping start 31 new companies and attracting $19.2M in investments last year. What do you believe sets Velocity apart from other incubators and accelerators in Michigan?

3. You offer essential services like grant support and entrepreneur guidance. What is the most common type of support that startups seek when they first come to Velocity, and how do you tailor your approach to meet their needs?

4. As one of Michigan’s 21 MEDC SmartZones, how does Velocity contribute to the broader economic development goals of the state, and what role do you envision for Velocity in the future of Macomb County’s growth?

5. Can you share a success story from one of the businesses that has gone through Velocity’s programs? What impact did Velocity’s resources have on their growth, and how does that reflect the broader mission of Velocity in supporting local entrepreneurs?

 [Up to Speed] Here is a little bit about Paula Macpherson: https://www.mivelocity.com/paula Paula serves as the Executive Director of Velocity, Macomb County’s dedicated SmartZone. Velocity’s mission is to support the growth of the entrepreneurial ecosystem by providing incubator and accelerator services, business coaching, networking opportunities, educational programs, access to grants, and funding.

A lifelong Macomb County resident with a strong entrepreneurial spirit, Paula brings a wealth of experience to her role. She spent a decade in the commercial construction industry before transitioning to mergers and acquisitions, where she worked for nine years. In addition to owning and operating several businesses, Paula has also served as a business growth consultant.

At Velocity, Paula thrives on collaborating with an innovative team and strategic partners statewide. She is passionate about showcasing Macomb County’s entrepreneurial advancements to the investment community and is committed to fostering the region’s economic growth.

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About Velocity: Velocity offers essential services like grant support, entrepreneur guidance, and monthly events designed to help new startups thrive. Their mission is clear: Velocity wants to encourage businesses to apply for their programs and become part of their vibrant community. In addition to highlighting success stories on Velocity’s website, they share monthly blogs and invite entrepreneurs to attend free events, which serve as valuable networking opportunities.

Their status as one of Michigan’s 21 MEDC SmartZones, allows them to serve as a true hub for economic development, offering resources to startups, helping them scale, and bringing attention to Macomb County’s growing business ecosystem.

Here’s a glimpse of Velocity’s impact from just last year:

Helped start 31 new companies
Assisted 15 companies with relocating to Macomb County
Awarded $535K in total grants
Attracted $19.2M in investments to local businesses
Welcomed 203 new clients
Served 101 accelerator clients and 155 incubator clients
Hosted 96 events with over 7,000 total attendees
Supported 42 active businesses currently based at Velocity

These numbers reflect Velocity’s commitment to building a strong entrepreneurial ecosystem here in Michigan, it’s story about the role they play in the local economy.

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