LANSING – The Michigan Economic Development Corporation is hoping the annual meeting of the National Association of Seed and Venture Funds next September will bring some of that business investment to Michigan.
Michigan officials have been complaining for many years about the dearth of venture capital in the state and have proposed or implemented a variety of plans, including parts of the 21st Century Jobs Fund, to attract those investors. By bringing the heads of some of those funds to Detroit, MEDC officials hope they will be able to showcase the opportunities in the state, said MEDC spokesperson Bridget Beckman.
“The goal is to raise Michigan’s profile and do matchmaking with venture capitalists and portfolio companies,” Beckman said.
The annual meeting includes a convention in September at the Renaissance Center expected to attract fund managers from 46 states and as many as 12 foreign countries. The state will also host the NASVF board’ quarterly meetings, which brings the 12 board members to the state beginning later this month.
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