Michigan Economic Development Corporation
21st Century Jobs Fund
2008 Commercialization Business Plan Competition
The 21st Century
Jobs Fund is a bold $2.0 billion, 10-year initiative, to grow and diversify our
economy in competitive edge technologies: life sciences; advanced automotive;
manufacturing; and materials; homeland security/defense; and, alternative
energy. The Jobs Fund is amping up for the next $30 million round of
investing in cutting edge companies. Here’s how the competition works and
how to apply.
KEY POINTS:
• $30 million dedicated to
the Business Plan Competition.
• Focused on for-profit
companies that can demonstrate a viable, sustainable business opportunity with
near term job creation —five years or less.
• Technology focus within
advanced automotive, manufacturing and materials; alternative energy; homeland
security and defense; and/or life sciences.
• Matching funds are
required.
• Proposals are submitted
electronically in the form of a 25-page or less business plan that can be
attached as a .pdf file.
• A $500 application fee is
due at the time of proposal submission.
• Proposals will be evaluated
by independent peer review experts on the four legislatively mandated criteria
of: commercialization merit, personnel expertise, ability to leverage
additional funds, and scientific and technical merit.
• Awards will be structured
as loans—straight or convertible to equity.
• The official website portal
for the Business Plan Competition: TheMEDC.org/21CBizPlan
TIMELINE:
• June 4, 5:00 pm, Business
Plan Competition deadline
• June 4–July 11, Written
review conducted
• July 22, Written review
recommendations to SEIC Board
• July 28–August 22, Oral
interviews conducted
• September 10, Award recommendations
to SEIC Board for approval/announcement
MEDC Media Contact:
Bridget Beckman
Public Relations Officer
Marketing & Communications
517.335.4590
