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First application cycle for new Innovation Fund opens

– Thursday, February 12, 2015 12:00AM

JPMorgan Chase and Macomb Community College-backed initiative designed to provide mentoring and funding to early-stage businesses

Applications for the first round of funding from the new Innovation Fund Macomb Community College, Powered by JPMorgan Chase & Co., are open and will be accepted online through April 30, 2015, at  

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.

 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.  

Applicant finalists will pitch their business idea to a panel of business leaders and entrepreneurs representing a variety of relevant backgrounds to ensure the best conceived ideas are selected for funding. The first round of funding from the Innovation Fund will be issued in early summer.  

For those interested, an information session will be held on Tues., February 24, 4:30 – 6 p.m., at the University Center on Macomb Community College’s Center Campus, Hall and Garfield roads, Clinton Township. To RSVP for the session, email  

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 or call 586.226.4833.

About Macomb Community College

Macomb Community College ( 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,, 586.445.7204