Business Incubator Grants, Deadline Nov. 26

At its October 24, 2012 meeting the Michigan Strategic Fund Board approved the RFP for the 2013 Business Incubator Program. The program will provide funding to business incubators/accelerators to stimulate the creation and continued growth of technology-based businesses and jobs by capitalizing on the State of Michigan’s growing base of high technology industry, its skilled labor force, its nationally recognized university system, its SmartZones, and its business incubators/accelerators.

Per Public Act 200 of 2012, Section 1034, the MSF is requesting proposals to award grants that total not more than $8,500,000.00 for business incubators and accelerators as follows:

(a) A high performance regional business incubator or accelerator that provides services in at least eight (8) counties and received funding as an auto technology business accelerator under section 88j of the Michigan strategic fund act, 1984 PA 270, MCL 125.2088j, shall receive a grant of not less than $2,000,000.00.
(b)  Funding of not less than $750,000.00 and not greater than $1,000,000 shall be awarded to one (1) high performance business incubator or accelerator in a city with a population greater than 650,000.
(c)  Funding of not less than $500,000.00 and not greater than $1,000,000 shall be awarded to one (1) high performance business incubator or accelerator in each of the following governmental units:
(i)  Houghton County
(ii)  Isabella County
(iii) Kent County
(iv) Macomb County
(v) Oakland County
(vi) Washtenaw County
(vii) Midland County
(viii) A Mason County business incubator that provides services to Lake, Mason, Manistee, and Oceana Counties
(d) Funding of not less than $275,000.00 and not greater than $1,000,000 shall be awarded to one (1) high performance business incubator or accelerator in Ingham County.

Application Process:

  • A proposal is requested with a limit of 20 pages for the Business Plan.
  • The RFP document (attached below) identifies the program criteria and requirements for the proposal.
  • The proposal must be milestone and metrics based with semi-annual reporting to the MEDC.

Timeline:

  • October 25, 2012 – RFP issued to the public
  • October 31, 2012 – Questions due from public
  • November 5, 2012 – Answers to questions submitted posted to web page
  • November 26, 2012 – Applications due
  • January 23, 2013 – Results presented to MSF Board for funding decisions

Applications Specifics:

  • Request for Proposals Guidelines click here
  • Complete Proposals (one pdf that includes Business Plan and other schedules, see Request for Proposals Guidelines above) should be emailed to 2013BIRFP@michigan.org. In the email subject line, please include: BI2013 – Location of Incubator or Accelerator (including City, County).
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Business Incubator Grants, Deadline Nov. 26

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