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Weekly Rewind: Ann Arbor’s Business News Recap

April 17, 2020 Regional Updates
Weekly Rewind April 17, 2020-decorative background with laptop, phone, tablet, and notes

A look back on this week’s economic development headlines, announcements, and other share-worthy news from the Ann Arbor region.

COVID-19 Updates

  • The Michigan Economic Development Corporation announced the creation of a $3 million Tech Startup Stabilization Fund to help stabilize early stage tech startups in Michigan that are being impacted by the COVID-19 outbreak.

Mobility

  • PlanetM is launching the PlanetM COVID-19 Mobility Solutions Grant, which will support mobility solutions that address the crucial challenges presented by the spread of COVID-19 within the State of Michigan. The application deadline is April 24.
  • A new report from the Greater Ann Arbor Region (GAAR) — complete with interactive maps — highlights the difference between where people live and work. There’s also a planning tool that encourages people to think differently about their mobility options.

Entrepreneurial Ecosystem

  • The MVCA released its annual research report
    • There are currently 19 startup companies in Michigan led by a CEO who is a racial minority, a 138% increase over the last six years.
    • There are 26 venture capital firms headquartered or with an office in Michigan.
    • Total venture capital under management in Michigan is $4.3 billion.
    • 542 venture firms from outside of Michigan have invested in Michigan-based startups.
    • In Michigan, 106 startups raised over $73.6 million from angel investors.

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