BATTLE CREEK – Battle Creek Unlimited, a business development and funding group, announced this week that it will become the initial investor in support of the Michigan Homeland Security Resource Fund. Neither the size of the fund, nor the amount of Battle Creek Unlimited’s investment was disclosed.

In other news, the fund launched its website HISRF.Com to take applications from Michigan-based entrepreneurs in need of investment.

The fund, created in cooperation with the Michigan Homeland Security Consortium, aims to support Michigan-based businesses and entrepreneurs through venture funding and other non-monetary means of support. Last year, Battle Creek Unlimited was retained as the Fund manager with a goal of attracting private and governmental contributions to invest in security and defense businesses.

“The purpose of this fund is to invest in start-up businesses within the Homeland Security space, which in turn, fosters economic growth throughout the state of Michigan,” said Dale Grogan, manager of the Michigan Homeland Security Resource Fund.

“By making investment capital available to new business, we can start to develop our own Silicon Valley for Homeland Security businesses,” he said. “By investing early and through development of careful managed funding strategies for our portfolio companies, we expect to see venture capital-like returns.”

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BCU and bcVentures, the Technology Business Accelerator group within Battle Creek Unlimited, are identifying and attracting funding to invest in security and defense businesses, with the goal of generating hundreds of new jobs that compliment Michigan’s growing homeland security industry.

“Michigan has a rich base of homeland security-oriented organizations, but we need to fuel more growth in early stage companies,” said Jack Miner, managing director of bcVentures.

“We plan to put our money where our mouth is and deposit money into this fund and invite other economic developers to do the same. We must attract and retain these businesses, and we can make a difference by generating start-up investment support,” Miner said.

The fund’s manager, board of directors and advisory committee oversee the fund, provide tax and legal advice and determine allocations to recipients.

For more information, click on BCUnlimited.Org

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