MEDC Seeks Business Incubator Proposals

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LANSING – The Michigan Economic Development Corp. today issued a Request for Proposals (RFP) to solicit ideas from high-performance business incubators or accelerators in Michigan to support entrepreneurs in launching and growing start-up technology companies throughout the state.

“Early-stage technology companies require seed capital and access to a strong network of public and private resources,” said MEDC President and CEO Michael A. Finney. “We are confident that with the funding of these organizations and the types of services they will provide, we will continue to accelerate the growth of innovative technology start-ups in Michigan.”

The Michigan Strategic Fund has approved a total amount of $8.5 million through the 2013 Business Incubator Program. This funding may be used to support up to three years of services for each incubator or accelerator award made by the MSF.

In order to be considered for a grant, applicants must submit a comprehensive business plan for delivering entrepreneurial services to start-up technology businesses, such as marketing assistance, legal services, and training. Applicants must develop a dashboard of indicators to measure the effectiveness of the business incubator and accelerator programs that also ties to the state’s strategic goals.

This is the second year of the Business Incubator Program. In Dec. 2011, the MSF awarded $6 million to 12 incubator and accelerators around the state through the 2012 allocation.

The RFPs can be viewed online at michiganadvantage.org/Public-Notices-Requests-for-Proposals/.

Electronic versions of each business plan proposal must be sent separately to the MSF via email to 2013BIRFP@michigan.org by Nov. 26 at 5 p.m. Proposals will not be accepted via U.S. mail or any other delivery method.

Prospective bidders may submit questions regarding the RFP via email by Oct. 31 at 5 p.m. to 2013BIRFP@michigan.org. Responses to all qualifying questions will be posted on the MEDC’s website, michiganadvantage.org on Nov. 5 at 5.

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