LTU gets $100,000 state grant for business incubation
SOUTHFIELD – The Michigan Strategic Fund (MSF) has approved a one-year, $100,000 extension to fund the Lawrence Technological University Collaboratory Gatekeeper Business Incubator.
The grant runs from April 1 through March 31, 2019, and was part of $1.7 million in state grants to support entrepreneurial resources.
This is the third year LTU has received the grant to assist entrepreneurs and innovators in Southfield and throughout Southeast Michigan with a variety of programs, services, and events.
The mission of the LTU Collaboratory is to help small manufacturers and hardware enterprises scale up for success.
LTU has partnered with the City of Southfield to foster economic development through the city’s SmartZone. Based on the results from the Gatekeeper Grant, Southfield has provided the LTU Collaboratory additional support over the past year to help foster small business success.
Through the Gatekeeper Grant, the LTU Collaboratory has also strengthened its collaboration and working relationships with agencies such as the Michigan Small Business Development Centers, Automation Alley, Pure Michigan Small Business Connect, the Michigan Manufacturing Technology Center, and other organizations.
The new Gatekeeper grant will continue the momentum established from the first two years’ awards to assist the growth of early stage technology companies, especially in those companies focused on product design, engineering, prototyping and manufacturing.
For further information on the programs, contact, Mark Brucki, executive director of the LTU Collaboratory, at email@example.com.
“Collaboration resources such as those available through Automation Alley, TechTown and SmartZones across Michigan are essential in providing our state’s entrepreneurs the necessary support needed to spark innovation and spur the business economy,” said Fred Molnar, vice president for entrepreneurship and innovation at the Michigan Economic Development Corp., the state’s chief marketing and business attraction agency. “The continued funding of these programs demonstrates their impact in not only building and growing startups in Michigan, but in attracting out-of-state talent.”
Gatekeeper business incubators assist early-stage companies in accessing various services and programs administered by Michigan SmartZones, including mentoring, incubator and wet lab space, technology assessments, market analysis, product development and entrepreneurial training. Under the grants they’ve previously received, Michigan SmartZones have helped 231 companies form, served 1,695 companies, created 730 jobs, retained 4,223 jobs, and assisted companies in raising over $286 million with an additional $125 million in sales.
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