Investors seek technology innovators for statewide entrepreneur program

By: Deborah Johnson Wood

Innovators of new technologies have the opportunity of a lifetime: to receive first-round funding for development of their ideas, to participate in 12 weeks of customized entrepreneurial training, and to pitch their newly-developed innovations to second-round investors.

The initiative, Momentum, developed by Lakeshore Advantage and The Windquest Group, provides up to $20,000 seed stage funding to help young entrepreneurs from Michigan and beyond bring their technology and web application ideas to fruition.

“I think a lot of college students thinking about their options to look for employment or start a business may not think Michigan is a possibility because of the economy,” says Amanda Chocko, Lakeshore Advantage director of entrepreneurial development. “We’re hoping that this package will convince them to take a closer look at giving Michigan a shot. We want to help new companies launch and to strengthen and cultivate our West Michigan technology industry.”

Momentum will select up to five start-up teams. Each team will have two to three company founders.

The teams will receive business concept and technology development assistance, mentoring by experienced entrepreneurs, networking opportunities and introductions to potential future investors.

“We want teams of people because the program is so short,” Chocko says. “They need to have someone to focus on development of the tech side of the business, and someone to focus on the business plan.”

Participants will live in the greater Holland area from May 4 to August 3. Program organizers are working with Hope College to secure student housing for participants. Lakeshore Advantage will provide office space at its location in the Colonial Clock Building, Zeeland.

Applications are due March 1. Top candidates will be notified by March 13 and required to come to West Michigan for interviews the week of March 23.

Source: Amanda Chocko, Lakeshore Advantage

Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].