Having trouble raising money or finding investment? If you are a start-up it is very hard to find capital today. It’s not impossible and I know of companies who have been able to close a small round of Angel investment recently, but it’s hard. We are telling all entrepreneurs these days they need to plan on ‘boot strapping’ their growth for awhile longer. Michigan has some great investment and incentive programs that can help intice investors, but for your own sanity, look at all options for funding your development and growth.
For many technology based companies the feds SBIR/STTR grants are a great way to keep you going. Most companies that apply are not approved. That’s why you need to take advantage of training programs. Unless you have applied successfully on your own before, don’t try it alone since there is so much help for you that is cheap.
You will hear more about the state programs referred to above in future blogs. Watch for an event we’re working on that will give you an overview of all the options available to Michigan start-ups. In the mean time check out this training session next week if you think you are eligible for an NIH grant.