Wednesday, June 4, 2014
MVCA Releases 2013 Research Report
The Michigan Venture Capital Association released their 2013 research report this week. The report is an in-depth analysis of venture capital in the state. The report shows continued growth and development in Michigan’s entrepreneurial economy.
MVCA is a non-profit organization whose goal is to grow and sustain a vibrant venture capital community in Michigan. Their reports provide valuable insight into Michigan’s entrepreneurial economy. One of the highlights from this report shows that $120 million was invested in 40 companies in Michigan, the highest number of deals since the MVCA began tracking this information and this is an increase of 111 percent over the last five years. Other highlights from this report show in the last 5 years, the number of venture capital investment professionals increased by 84 percent in Michigan, compared to a 13 percent decrease in investment professionals nationally.
The State’s concentrated effort to kick start entrepreneurial activity has had a profound effect on the economy. Startup companies have experienced so much success in fact, that funds are being provided to help even more companies solidify their foundation for growth. Michigan has invested $12 million in the Michigan Accelerator Fund program and Huron River Ventures. Combined, these two funds have attracted an additional $106 million of private capital for early-stage companies.
While there are great strives being made in Michigan’s entrepreneurial economy, MVCA also indicates that there is still work to be done so that Michigan remains progressive. While there are obstacles to overcome in any type of economic growth, MVCA is dedicated and committed to continuing the growth in Michigan.