There isn't much that's small about the work performed by the Michigan Pre-Seed Capital Fund in 2010. The start-up financing fund distributed $2.5 million worth of loans to dozens of companies in Michigan, many of which are in the Ann Arbor area.
The $11.6 million fund has given microloans, about $50,000 each, to 52 start-ups, such as U-M spinoff and Accelerate Michigan winner Armune BioScience. These companies mostly use the cash to help commercialize their first products. These companies employ 285 people and have since attracted another $16.4 million in outside investment.
To read the full, original article click on this link: Southeast Michigan Startup - Michigan Pre-Seed Capital Fund hits $2.5M in start-up financing
