The Michigan Economic Development Corporation announced in a recent round of grant funding that Northern Michigan University will be getting a $1.15 million grant.
The university will serve as the fiscal agent for the grant, which is targeted to benefit the Invent@NMU program and facility in collaboration with Innovate Marquette SmartZone, as the two implement a collaborative operating agreement.
Invent@NMU focuses on giving students real-world innovation and business experience in the process of bringing physical products and inventions from concept to market. Innovate Marquette works with high-tech businesses in the Marquette area by supporting entrepreneurs, offering services, training programs and networking.
The two will now combine, with NMU providing student employees, office space and equipment, and Innovate Marquette taking over management and operations tasks with Invent@NMU. The grant money is meant to help this transition take place and fund operations for the combined venture in the future.
Writer: Kim Eggleston
Source: Michigan Economic Development Corporation