“Start Up” may not be the first thing that pops into mind when you think of Michigan. But the state is making all the right moves to attract venture capital funds and create an entrepreneurial culture, reports The Detroit News. The effort appears to be paying off. The amount of venture capital managed by Michigan firms has grown by 73% since 2001, with concentrations in life sciences, information technology and alternative energy.
The uptick in venture capital investing could be crucial to diversifying Michigan’s economy, which has suffered with the decline in auto-related manufacturing in recent years. Michigan also hosted the 2008 Annual Conference of the National Association of Seed and Venture Funds, September 10th to 12th, which should further raise awareness of venture capital opportunities in the Midwest.
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