Michigan Business Innovation AssociationHelping Foster State, Local and Regional Economic
Success Through Business Incubation
Members
Michigan Business Innovation Association is comprised of the state's most innovative business incubators, accelerators, co-working spaces, maker spaces, economic development partners, and entrepreneurial support organizations who are focused on innovation, creating jobs and developing Michigan's local economies. The MBIA provides a supportive entrepreneurial environment that stimulates the growth of business to ensure economic vitality and encourage job creation.
Resources
The MBIA fosters communication and exchanges ideas among ESOs - Entrepreneurial Support Organizations, their leadership teams, clients, entrepreneurs, new ventures, and other stakeholders. We serve as a clearinghouse for the collection and dissemination of information about incubators, accelerators, co-working spaces, maker spaces to assist entrepreneurs with new business ideas, providing a basis for mutually supportive group efforts that promote the public image of ESOs and their economic impact.
Leadership
MBIA recognizes the involvement of entrepreneurial support organizations in transforming the Michigan economy, and hopes to bring together incubators, accelerators, co-working programs, maker spaces, entrepreneurs, economic developers, consultants, service providers, and other stakeholders into a dynamic network of organizations and individuals committed to forwarding the Michigan economy.
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The Michigan Business Innovation Association is hiring two part-time 1099 contractors for fiscal year 2023 (July 1 - June 30). One position is an operations manager; the other position is a marketing coordinator. See the Request for Proposals for more information. Interested people are asked to submit a proposal that includes a scope of work, deliverables, and an hourly price quote. Send the proposal to Michigan.incubation@gmail.com by September 30, 2022.
L. Joseph Rahn died February 27, 2020 at home, after a fierce battle with cancer over many years. Joe was a founding member of MBIA and Chairman for several years. Rahn was formerly the head of Economic Development for the City of Hastings and Barry County, where he established the Hastings Industrial Incubator. This incubator launched 49 companies, and was considered one of the best run incubators in the U.S. Government officials from other cities, states and countries visited to learn what made it so successful. Governor John Engler and Congressman Paul B. Henry both officially commended Joe on his work for Michigan business development. Additionally, Rahn was hosted in Bangalore, India to present his work at the Asian and Pacific Centre of Transfer of Technology, part of the United Nations. For two years he was appointed and served as an Examiner for the Malcomb Baldrige National Quality Award, conferred by the President of the United States for Excellence in Business.
After retiring from Economic Development, Rahn established Lakeland Boatworks, which for ten years, manufactured wood-epoxy recreational water craft in Middleville, MI. He and his wife then retired to Beaver Island, Michigan.
A memorial service will be held at 2:00 p.m. on Saturday, April 18, 2020 at Zion Lutheran Church of Petoskey, 500 W. Mitchell Street, Petoskey, Michigan, 49770. Memorial donations can be sent to the church. Expressions of sympathy can be sent to P.O. Box 465, Beaver Island, MI 49782
Tuesday, March 10, 2020
Save the Date!
The MBIA 2020 Annual Meeting & Workshops will take place on Thursday, May 14 from 9:00 AM - 4:00 PM at Ann Arbor SPARK (330 E. Liberty, Lower Level, Ann Arbor, MI 48104). Please mark your calendars now for this exciting event. More details will be provided soon.
Thursday, February 20, 2020
ACRE AgTech Launches Accelerator in August 2019
ACRE AgTech announced our first accelerator in April 2019. Of the 40 startups that applied, three were selected to participate based on our awareness of some of the key challenges Michigan’s $100 Billion agriculture industry faces. On August 26, 2019, these dynamic startup companies will begin a 12-week program designed to help them launch their innovations into the Michigan agricultural community.
ACRE selected these three companies because of their demonstrated ability to address real problems with tangible solutions. The founders of these companies displayed the resiliency, entrepreneurial spirit, and can-do attitudes required of a growing, innovative organization. Over the 12-week cohort, the founders will interact with leaders in agriculture and business from across the state. The coaching and mentoring they will receive, covering a wide range of business practices, will train them to lead their young companies into the agricultural industry.
The mission of the ACRE AgTech Accelerator program is to improve conditions for Michigan farmers and catalyze economic development by helping launch new businesses. For more information or to become involved with ACRE AgTech Accelerator, contact Doug Huesdash, Chief Operating Officer, at 616.450.5274 or doug@acreagtech.com
At the 2019 Pure Michigan Agriculture Summit, Jeff Mason, CEO of the Michigan Economic Development Corporation (MEDC), said it best: “. . . agriculture is in our DNA. Through new processes, tech, and products, Michigan farmers are transforming the industry.”
Join us on March 20 for a day of networking, learning, sharing, and supporting entrepreneurship in Michigan. Those traveling from out of the area who are staying overnight on March 19 are invited to a meet and greet that evening. This event is open for members and non-members alike.
Strong Michigan venture firms are a critical factor in the success of Michigan startups. With Michigan venture investors backing nearly every Michigan venture-funded startup, the health of our state’s entrepreneurial economy hinges on our ability to provide capital to our high-growth, high-potential companies.
Key Findings:
*There are 134 venture-backed companies in Michigan.
*68 startups received $179 million of venture capital investment in 2017, a 100 percent increase over the last five years.
*$11.4 million was invested in eight Michigan startup companies led by a diverse CEO.
*There are 29 venture capital firms headquartered or with an office in Michigan.
*Total capital under management in Michigan in 2017 was $3.9 billion.
*Every $1 invested in a Michigan startup by a Michigan-based venture capital firm attracts $3.83 of investment from outside of Michigan.
*472 of venture firms from outside of Michigan have invested in Michigan-based startups, a 376% increase over the last five years.
*There is a total of 87 venture capital professionals and 797 angel investors in Michigan.
*There was $41 million of angel investment in 70 Michigan startups in 2017.
In an effort to make membership in MBIA even more beneficial and easier, we have created a new membership category that will incorporate two separate payments into one. Called the VIP All-Inclusive level, this option includes membership dues AND registration for the annual Member Meeting, valued at $100 per person. The VIP All-Inclusive levels are:
Associate $200
Organizational $330
Consultant/Vendor/Partner $375
Premier Member (5 members, 2 admissions to the annual member meeting) $425
For comparison, the other 2018 membership rates are:
Associate (1 member) $100
Organizational (2 members) $130
Consultant/Vendor/Partner (2 members) $175
Premier Member (5 members) $225
The 2018 membership rates do include a slight increase from 2017. Membership rates have not changed at MBIA since 2011. Even with an all-volunteer board and a 1/4 time admin/marketing person, the costs of running the Association have increased. Frugality and efficiency have been the hallmark of the board for years, and we don't anticipate changing that anytime soon. We sincerely hope that the modest rate increase in 2018 will not be a hardship for any member. The minimal increase in dues will enable the Association to continue offering the benefits that members have come to expect, like an interactive website, connectivity among Michigan entrepreneurial support organizations, and interesting meetings and networking events. Thank you for your membership and your participation in the Michigan Business Innovation Association.
Michigan State University's Conquer Accelerator has selected a new group of startups for the school's second Innovation Celebration, according to an MSU news release.
Hosted by Spartan Innovations, which is an incubator for startup companies funded by the MSU Foundation, the program aims to help entrepreneurs plan for growth and overcome business hurdles.
Five Michigan-based startup teams have been selected for the cohort. Each will receive $20,000 in funding and participate in a 10-week program that includes mentorship, a creative working space, support and resources.
Central Michigan University Research Corporation announces expansion in Saginaw Business incubator and accelerator will open its third location in the SVRC Marketplace
MOUNT PLEASANT, Mich., Apr. 20, 2017 – What was once filled with the buzz of local information and updates soon will be humming with a different type of news: new product ideas and businesses. Today, Central Michigan University Research Corporation announced it will open its third location inside the SVRC Marketplace — the iconic former home of The Saginaw News — next year.
Strong Michigan venture firms are a critical factor in the success of Michigan startups. With Michigan venture investors backing nearly every Michigan venture-funded startup, the health of our state’s entrepreneurial economy hinges on our ability to provide capital to our high-growth, high-potential companies.
Key Findings:
- There were 141 active venture-backed startups in Michigan in 2016, which is a 48% increase in the last five years.
- 54 startups in Michigan received more than $222 million from Michigan venture capital firms in 2016, a 42% increase from the previous five years.
- Every $1 invested in a Michigan startup by a Michigan venture capital firm attracts $4.61 of investment from outside of Michigan.
- There are 33 venture firms headquartered or with an office in Michigan.
- Total venture capital under management in Michigan in 2016 was $4 billion
- In the last five years, the number of venture capital investment professionals living, working and investing in Michigan has increased by 41%.
