A Jump-Start for Startups: Four Early-Stage Companies Receive First Step Funding Boost
The $5 million First Step Ventures fund, a creation of the New Economy Initiative in March to help fund early-stage companies in Southeast Michigan, is expected to announce its first four recipients today.
The companies, spanning a range of technologies and market segments, each will receive up to $50,000 in loans, equity investing or both. The total received will depend on companies hitting certain milestones, according to the fund's managing director, Mahendra Ramsinghani. more