A summary of State and Federal programs are shown below. These programs can change several times are year. Funding is sometimes perpetual and sometimes on a first come, first serve basis.
Nanokore Provides Fundraising Assistance for Michigan Entrepreneurs
First, Nanokore’s Staff helps entrepreneurs understand the various program qualifications.
Michigan’s entrepreneurial ecosystem offers many State a Federal programs. Each of these programs make sense for different businesses and at different stages of your businesses development.
Next, Nanokore’s Staff helps entrepreneurs understand their potential business cases and also generate the requisite financial projections.
You may have come to learn that almost all CPA's, accountant's and CFO's have trouble with helping early stage companies generate their projected financials. Traditional finance professionals most often rely on historical numbers to generate a company's future projections. Nanokore specializes in a high-value, proven process which works closely with the founders of new/young companies to generate projected financials quickly and accurately.
Michigan Strategic Fund (MSF) Finance Programs
1. Business Accelerator Fund (BAF)
The Business Accelerator Fund (BAF) funds are used toward the delivery of specialized services to assist advanced technology companies. A Michigan accelerator will engage a third party specialist (Service Provider) to help advance the Client’s path to commercialization, company success, and economic impact for the state of Michigan.
To learn more, click the pdf below…
2. Invest Detroit First Capital Fund
provides early-stage investment capital to high-tech startups to meet developmental milestones that can help secure venture capital follow-on investments.
To learn more, click the pdf below…
3. Red Cedar - Rise Preseed III
as of feburary 2021, the Michigan Rise Pre-Seed Fund has invested $1,450,000 in twelve companies across Michigan including Grand Rapids, East Lansing, Ann Arbor and Detroit. Michigan Rise provides funds to help commercializing technologies including advanced materials, cybersecurity, health-IT and medical devices.
To learn more, click the pdf below…
4. Emerging Technology Fund
expands funding opportunities for Michigan technology companies in federal research and development by providing matching dollars to support commercialization of SBIR and STTR projects.
To learn more, click the pdf below…
5. MI-STEP
MI-STEP is designed to spur job creation by empowering Michigan small businesses to export their products. The program has three primary objectives:
• Increase the number of Michigan small businesses that export
• Increase the dollar value of Michigan exports
• Increase the number of Michigan small businesses exploring significant new trade opportunities
Michigan Strategic Fund (MSF) Technical Assistance Programs
1. SBDC Tech Team
Michigan SBDC provides consulting, training and research to assist small business to launch, grow, transition and innovate. While serving all types of small businesses, its “Tech Team” specializes in assisting companies with commercializing advanced technology.
To learn more, click the pdf below…
2. BBCetc SBIR/STTR
helps qualified early-stage Michigan technology companies to be more competitive in this national proposal and award process. BBC Entrepreneurial Training & Consulting (BBCetc) provides SBIR/STTR training and proposal development services throughout the state with most costs covered by the program.
To learn more, click the pdf below…
Federal Finance Programs
Small Business Administration (SBA) Programs
EIDL - Economic Injury Disaster Loan
SBA 7(a) Loan Program
SBA 7(a) Eligibility Requirements - You must be officially registered as a for-profit business, and you must be operating legally. As the business owner, you can't be on parole. Your business must have fewer than 500 employees, and less than $7.5 million revenue on average each year for the past three years.
EXIM Bank Programs
EXIM is an independent federal agency that provides competitive and necessary export credit to support sales of U.S. goods and services to international buyers.
On June 15, 2020, EXIM President and Chairman of the Board Kimberly A. Reed wrote to SBA Administrator Jovita Carranza to request SBA approval to permit EXIM to adopt the alternative size standard for defining small business concerns in all EXIM programs. “One of my top priorities at EXIM is to increase our support of and strengthen our engagement with U.S. small businesses, including women-, minority-, and veteran-owned businesses, businesses owned by persons with disabilities, and businesses in rural areas. With this important change, even more U.S. small businesses will be able to access EXIM products that help exporters bring their ‘Made in the USA’ goods and services to the world,” said EXIM Chairman Kimberly Reed. “I’d like to thank SBA Administrator Carranza and SBA staff for their assistance in helping EXIM swiftly adopt this important change. The action taken today will make it easier for even more small businesses to access EXIM services in support of more U.S. jobs, as well as be consistent with SBA Programs,” Chairman Reed added.