Michigan Pre-Seed Capital Fund
The Michigan Pre-Seed Capital Fund Are you an entrepreneur looking for your first round of private outside equity investment? If you have a technology-based company, the Michigan Pre-Seed Capital Fund might be able to help you out. In this video Skip Simms, Senior Vice President of Ann Arbor SPARK, walks you through the process.
The Michigan Pre-Seed Capital Fund supports high-tech start-up companies as they near commercial viability by providing access to early-stage capital investment or micro loans to accelerate company development. Supported by a consortium of Michigan SmartZones, and the MEDC, and funded by the Michigan Strategic Fund, this capital will extend the personal investment of entrepreneurs during the critical pre-seed stage when they are at or near commercialization.
The fund targets companies throughout the state that are creating the newest technology products and services.
Application information for Pre-Seed investment:
To begin the application process for a co-investment follow these steps:
Eligible companies will need to be past the concept development and analysis phase, and have specific milestones identified for achieving commercialization and acceptable to a matching investing partner of the Pre-Seed Fund.
These needs might include hiring key management or specialized consultants, regulatory review, contract manufacturing agreements, executing marketing strategies and sales plans, etc. At this stage, the Pre-Seed Fund consider funding $50,000 to $250,000 per company alongside their investment partner who will provide a minimum one-to-one match.
- Start with the checklist of things you will need to answer in preparation for funding.
- Contact a SmartZone to review and help prepare your company for funding.
- Decide with your SmartZone representative the milestones you need to achieve with new funding that they can help you.
- Secure the match of new cash you need for Pre-Seed Fund acceptance
After completing the due diligence, the SmartZone will give you access to the link where you will upload your business plan, proforma and investor presentation.
Application information for Pre-Seed Loan:
Eligible companies will need to be in or past concept development and analysis phase, and have specific milestones identified for achieving commercialization.
Maximum loan is $50,000. There is no match requirement.
To begin the application process please follow the instructions found here.