The funding pie is growing larger for Detroit-area entrepreneurs, especially those who agree to take on community-college students as interns.
"Up to $100,000 will be made available to startup and emerging businesses in the Detroit area through the $2.7 million Innovation Fund, part of J.P. Morgan Chase & Co.'s $100 million investment in the region.
According to a release from Macomb Community College, which will manage the fund, grants of $25,000, which don't have to be repaid, will be awarded to startups "that are taking the initial steps to get their very early stage idea ready for market introduction."
In other cases, up to $100,000 will be made available to "advance the progress of emerging companies toward larger-scale equity funding." Those awards would have to be matched 100 percent by the company...
Companies that receive funding will be required to provide employment opportunities to MCC students through internships."