KALAMAZOO, Mich. — Lt. Gov. Garlin Gilchrist announced a Kalamazoo startup organization will be awarded $5 million from the Michigan Innovate Capital Fund (MICF).
Biosciences Research and Commercialization Center (BRCC) is one of several high-tech startups to receive a total of $18 million in funding, according to the Michigan Executive Office of the Governor.
The MICF supports the growth of entrepreneurs in the state.
“Michigan is home to dreamers, doers, innovators and pioneers pushing the boundaries and building the future,” says Gilchrist. “The Michigan Innovate Capital Fund is about unleashing Michigan innovation and supporting startups across our state as they grow our economy, create good-paying, high-tech jobs, and bring supply chains back home from overseas. Congratulations to the initial round of nonprofit organization awardees.”
BRCC, which is found at Western Michigan University, has supported 56 companies since its inception in 2003, state officials say. The award will help the organization continue their mission to grow small businesses specializing in life sciences.
“The Biosciences Research and Commercialization Center at Western Michigan University is grateful to have been approved for further funding from the Michigan Strategic Fund through the Michigan Economic Development Corporation, allowing us to expand our support for Michigan based startup companies in the Life Sciences sectors,” says Executive Director Steve Haakenson. “The success of BRCC’s previous investment funds, coupled with this new funding, will provide ongoing opportunities for new and serial entrepreneurs who may otherwise not receive the capital needed to commercialize and grow their businesses in Michigan.”
