The initial eight recipients of the first-ever Michigan Innovation Fund (MIF) have been selected. With bipartisan support from elected officials in the state Legislature, the fund received a $60 million appropriation to distribute across existing early-stage evergreen venture funds in Michigan, emerging evergreen funds in Michigan, and others who contribute to the entrepreneurial ecosystem in Michigan, especially toward startup companies, founders and funds.
The law specifies funding be divided across certain cohorts. Additional fund recipients will be announced at a later date for those who are not affiliated with a higher education system or local economic development organization.
Awardees were made in the following regions and divisions:
Existing Evergreen Funds
- ID Ventures, $10.6 million
- Ann Arbor SPARK, $10.6 million
- University of Michigan Accelerate Blue Fund, $10.6 million
- MSU Research Foundation, $10.6 million
Emerging Evergreen Funds
- InvestUP, $1.6 million
- 20Fathoms, $1.6 million
- Grand Valley Research Corp., $1.6 million
The $7.2 million remaining of the total $60 million appropriation will be used for entrepreneurial support programs and a pitch competition that is currently accepting applications through noon on July 16, 2025. Applications received after this deadline and by August 8, 2025, at noon, will be reviewed as part of a second and final round, pending availability of remaining funds. For more information on applying for the remainder of funds, visit the Michigan Innovation Fund website.