MEDC, ID Ventures launch “Tech Start-up Stabilization Fund”
The Michigan Economic Development Corporation (MEDC) and ID Ventures have announced a $3 million “Tech Start-up Stabilization Fund.” Administered by Detroit-based seed capital firm, the new fund will provide direct investments or loans of between $20,000 and $100,000 that can then be converted into equity. This is the latest in a series of initiatives from MEDC aimed at helping businesses negatively impacted by the COVID-19 pandemic. Read more about the new fund here.
