Entrepreneurs, breathe a sign of relief. The deadline for the 21st Century Jobs Fund Business Plan Competition has been extended to June 30.
OK, maybe it's not that startling, but those looking to competing for up to $30 million to grow businesses in the areas of alternative energy, life sciences, advanced manufacturing, and homeland security and defense will have until the end of next month to get their act together.
This round of proposals are centered on companies in the later stages of development that are ready to create jobs sooner rather than later. The proposals must demonstrate a viable and sustainable business opportunity in the aforementioned competitive-edge business sectors.
Funding is based on a competitive, independent peer review process. The proposals are scored and ranked based on commercialization merit, scientific and technical merit, management team strengths and the ability to leverage additional funding.
The 21st Century Jobs Fund is a $2 billion, ten-year initiative proposed by Governor Granholm, approved by the Michigan Legislature, and administered by the MEDC to accelerate the diversification of Michigan's economy. The first round of funding resulted in the Strategic Economic Investment and Commercialization (SEIC) board awarding $126.3 million to 78 organizations. Those organizations, in turn, are doing high-tech research, commercializing new products, and creating new jobs.
The Request for Proposal for the competition is available online here. An application fee of $500 is required for each proposal. For information, send an email to 21stCenturyJobs@michigan.org.
Source: Michigan Economic Development Corportation
Writer: Jon Zemke
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