Invest Detroit

By a country mile (was this phrase used with any consistency before Tiger's color commentator Rod Allen?), entrepreneurs are seeking money above all else.  Ask anyone in a developing business what they need, and they will tell you money.  The thinking is that money can solve every problem they have through spending on R&D, talent, equipment, space, workforce, etc.

A big part of our focus at The MORE Program with the InsYght network is to direct entrepreneurs toward resources in the state that are meant to take the place of direct cash infusions, or what the cash would have otherwise been spent on.  As I've mentioned before, there are thousands and thousands of these free or heavily discounted resources available to entrepreneurs, and we bring them into the open at MORE.

However, there are times when nothing but money will do, and there are also some great opportunities to find the necessary funding.  If you agree with Ted Balowski in his post Why Detroit? (and I certainly do) then you are looking to develop and grow your organization in the city of Detroit.  If so, and you have some specific financial needs, you should take a good hard look at Invest Detroit.

Invest Detroit is a unique source of private sector gap financing through managed for-profit and non-profit targeted funds to support economic development in under-served communities primarily in the City of Detroit.  They offer loans for equipment, neighborhood retail pursuits, real estate financing, and for many other purposes.  They cater to businesses small and large, including funds for some of the major redevelopment deals in Detroit like the Broderick Tower (the one with the whales painted on it that you can see from Comerica).

Let me know if you have any specific areas in which you are interested in finding out about resources; otherwise, I'll just keep throwing out there whatever is interesting to me.

The Fraunhofer Center

In my last post, I mentioned that Michigan has some very unique organizations offering amazing resources to help with your business development, and that I will be highlighting some of these groups and resources in this blog.  To give you a sense of the breadth of some of the business support organizations in Michigan, I would like to direct you to an interesting group that a member of our team, Bonnie Fahoome, pointed out to me last week - the Fraunhofer Center for Coatings and Laser Applications.

The Fraunhofer Center is a non-profit group that has a close partnership with Michigan State University.  They offer resources like Laser Processing Services, Coating Services, and Characterization and Testing Facilities - in addition to many others.  They describe themselves as "...a non-profit organization providing research services to our customers who include federal and state governments, multinational corporations, and small to medium-size companies. The overall aim of the entire Fraunhofer organization is to bridge the gap between research and industry by providing top notch applied research services..."

Who needs any of these things?  Having never worked directly with lasers or coatings and not yet doing the appropriate research, I currently have no idea - but if you're looking for any of these types of specialized services, they look to be a great place to turn for assistance.

To learn more about the Fraunhofer Center, visit:  http://www.ccl.fraunhofer.org/e_welcome.php
To find other interesting business support organizations, visit:  http://insyght.co

Resources in Michigan

MORE – Matching Opportunities and Resources for Entrepreneurs

There are more resources that exist in the state of Michigan to support the development and growth of your business than you can possibly realize.  Furthermore, tens of thousands of these resources are free, heavily discounted, or are offered by not-for-profit organizations.  When I mention the word “resources”, I include many of the things that you might immediately think about, including mentors, coaches, lab equipment, office or conference space, business planning assistance, and certain funding opportunities.  Furthermore, there are many great support programs that are available throughout the state that are far less obvious.  For example, if you have a concept drawing for a new product, there are not-for-profit groups in the state that will assist you with turning your concept into a fully realized, functional prototype.  There are other resource providers that will design and assist you with implementing your website at no cost if you don’t have the necessary expertise to do this yourself.  This is a tiny sampling of the types of great resources available as you create and grow your business.

These are programs that have been created and funded by organizations in Michigan that have a focus on business development.  Why?  In most instances, these resource-providing organizations want to create an ecosystem that promotes innovation, entrepreneurship, and business development.  They know that an innovative atmosphere benefits the long term health of Michigan through making the state an attractive place to live.

The MORE Program is a non-profit organization that has developed a web platform, called InsYght (http://insyght.co) to connect entrepreneurs to the best resource providers and resources for their immediate needs.  MORE has created innovative software and processes to inventory statewide business support resources and then match entrepreneurs and innovators (you) to the right resource providers and corresponding resources for them (you).

In this space, I will be highlighting some of the interesting, unique, and exciting resources that The MORE Program team has identified.  I will also be keeping you up to date on advancements and new features of InsYght, as well as drawing your attention to many of the exciting new ongoing endeavors in Michigan to support economic gardening.

Ken Agacinski, Executive Director, The MORE Program

As executive director of The MORE Program, Ken is leading the charge to make Michigan the most innovative small business development enterprise in America.

He graduated Summa Cum Laude from the University of Michigan College of Engineering with bachelor’s and master’s degrees in Industrial and Operations Engineering.

Ken has a unique blend of digital engineering expertise with working experience providing mentoring and development skills for individuals.  He has worked for and with entrepreneurial organizations, giving him indispensible insight into their needs.

Learn more at www.themoreprogram.com.