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Feb. 24 Information Session for entrepreneurs interested in applying for inaugural funding from Macomb Innovation Fund

– Tuesday, February 17, 2015 12:00AM

Initiative will provide mentoring and funding to early-stage businesses located in nine-county Southeast Michigan area

An Information Session will be held on Tues., February 24, 4:30 – 6 p.m. for those interested in applying for the first round of funding from the new Innovation Fund Macomb Community College, Powered by JPMorgan Chase & Co. The session will be held at the University Center on Macomb Community College’s Center Campus, Hall and Garfield roads, Clinton Township. To RSVP for the session, go to www.macomb.edu/cie.

The information session will cover how to apply and who is eligible, how the funding can be used, what you need to know before filling out the application, what to expect if awarded a grant, financial reporting requirements and educational requirements.

Entrepreneurs involved in high-growth technology-focused businesses, such as advanced manufacturing, information technology, alternative energy, healthcare, and logistics and supply chain, are eligible to apply.  The companies must locate within a nine-county region consisting of Genesee, Livingston, Macomb, Monroe, Oakland, Shiawassee, St. Clair, Washtenaw or Wayne.  This first application cycle closes on April 30, 2015.

There are two funding options available.  The first is a grant of up to $25,000 to support early-stage businesses taking the initial steps in market introduction. The second is an award, up to $100,000, which must be matched dollar for dollar, to advance the progress of emerging companies toward larger-scale funding.

The Innovation Fund was established with a $1 million commitment by JPMorgan Chase, matched by $1 million from Macomb Community College’s Strategic Fund.  It is designed to stimulate economic development and job growth, providing valuable capital to entrepreneurs at a pivotal time in business development between “family and friends” funding and the ability to attract mainstream financial investor funding.  JPMorgan Chase’s support is part of its five-year, $100 million commitment to Detroit’s economic recovery. The Innovation Fund is part of Macomb’s Center for Innovation and Entrepreneurship, a one-stop resource for both students and community members for entrepreneurship education and training, mentorship for startups and existing small business, and access to capital. For more information, visit www.macomb.edu/cie or call 586.226.4833.

About Macomb Community College

Macomb Community College (www.macomb.edu) is one of the nation’s leading community colleges, providing learning experiences to more than 48,000 students annually.  Macomb nationally ranks in the top two percent in the number of associate degrees awarded by community colleges. The college’s comprehensive educational programming includes pre-collegiate experiences, university transfer and career preparation programs, bachelor degree completion and graduate degree programs, workforce training, professional education and certification, and continuing education and enrichment opportunities. 

Media Contact: Jeanne Nicol, nicolj@macomb.edu, 586.445.7204