Venture Capital

Money is the life-blood of entrepreneurs and start-up companies.  Michigan is seeing an increase in funding ventures of its small but growing companies.  Likewise, new venture capital funds are being established to support these fledgling businesses.

• Michigan venture capital availability grew from $2.38-million in early 1999
  to $60.16-million in early 2000, signaling Michigan's capital support for
  start-up high-techs and emerging industry is growing fast.
• By far, the largest portion of Michigan VC funding has gone toward
  software (34%), followed by networking and equipment (18%), business
  services (11%), biotechnology (9%), home care services (8%), medical
  devices (6%), telecommunications (5%), industrial and retail/distribution
  (4% each).

Online Venture Capital Resources

Capital Growth Interactive is an online magazine for venture capitalists.
There also is a web site providing resources on the subject.

FinanceHub connects those seeking capital with those seeking to invest,
including a searchable data base, links to small business information and
banks.

MoneyHunter provides downloadable business plan software, and
searches for investors with similar interests. Venture Capital News
also is published.

The federal Small Business Administration's ACE-NET program is a
national program linking potential investors with entrepreneurs.

Venture Capital Research Library offers daily additions of new firms and
updates for existing VC firms. Database listings are available to qualified
VC firms.

In addition, the Michigan Economic Development Corp. offers venture
capital information and assistance; call Mahendra Ramsinghani at the
MEDC, (517) 241-4180.

(Source: MEDC, International Economic Development Council)