Metro Detroit snags 2 of 3 pre-seed capital fund investments

Three new economy start-ups are now able to dip their beaks into the Michigan Pre-Seed Capital Fund for capital. Two of those call Metro Detroit home.

They are Detroit-based SenSound and Ann Arbor-based Biotectix. The belong to the TechTown and Ann Arbor SPARK business incubators, respectively.

SenSound develops and markets software and testing services. These products are used in everything from the aerospace to medical device to automotive industries. Biotectix helps make other companies' biotech products safer, last longer and be more energy efficient, among other things.

The Michigan Pre-Seed Capital Fund is a collaborative effort of the state’s 12 SmartZones to provide venture capital to promising firms. So far 30 Michigan companies have been selected to participate in the fund. All of these firms must receive a matching investment from a venture capital firm or grant to qualify.

Source: Ann Arbor SPARK
Writer: Jon Zemke

Metro Detroit snags 2 of 3 pre-seed capital fund investments

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