The Michigan Economic Development Corporation (MEDC) recently announced the 23 Michigan organizations that will receive grant funding from the Trusted Connector Grant program, which provide grants to organizations such as chambers of commerce and other member-based organizations that engage with under-represented small businesses and/or tech-based entrepreneurs across the state. Additionally, a Detroit-based company will receive grant funding from the Entrepreneur Support Grant program.
In total, the $6.8 million in Trusted Connector Grants and a $2 million Entrepreneur Support Grant will allow the selected organizations to continue providing technical assistance programming, networking events, mentorship, and outreach to small businesses throughout Michigan.
“We are invested in the success of Michigan’s small businesses and are committed to doing everything we can to provide them with the resources they need for growth,” said MEDC Senior Vice President of Small Business & Talent Amy Rencher. “Economic development draws on the power of community, and the organizations selected to receive Trusted Connector Grant funds and our Entrepreneur Support Grant program awardee, Dunamis Charge, represent the strength of the state’s small business environment and entrepreneurial spirit. We cannot do this work alone, and we are proud to serve alongside them.”
Trusted Connector Grant
The Trusted Connector grants total $6.8 million in funding to support small business development initiatives across the state. This funding opportunity provides grants to organizations such as chambers of commerce and other member-based organizations that regularly convene and engage under-represented small businesses and/or tech-based entrepreneurs through technical assistance programming, networking events, mentorship, and outreach.
While most grantees have multi-county service areas, several grantees will serve entrepreneurs statewide. The funding opportunity was highly competitive, with 44 eligible applications demonstrating $15 million in need across the state to increase awareness of resources available to entrepreneurs and to provide expert, culturally competent technical assistance.
One of the $250,000 statewide grants was awarded to the Michigan Hispanic Chamber of Commerce (MHCC). According to MHCC Executive Director Mark A. Moreno the grant will help expand the organization’s technical assistance and resources to Hispanic-owned businesses.
“The Trusted Connector Grant from the Michigan Economic Development Corporation (MEDC) will provide MHCC with vital funding for capacity building to support our ongoing HBeX and Adelante MI programs, and other important resources to serve our Hispanic business community across Michigan,” Moreno said.
The MHCC HBeX program consists of a capacity and business assessment by experienced business consultants. The 6-8 week comprehensive engagement is followed by targeted business development efforts led by an HBeX program manager.
The Adelante Michigan program focuses on equipping underserved Hispanic-owned microbusinesses with 10 or fewer employees. Eligible businesses receive resources to help them adapt, grow and become more sustainable.
The 23 grantees are established organizations skilled in meeting critical competitiveness and growth needs of Michigan small businesses in the areas of capital access preparedness; increasing digital acumen; promoting awareness of, and connection to, technology and innovation resources; facilitating expert-led mentorship and networking opportunities; providing and/or facilitating one-on-one coaching; providing and/or facilitating workshops and seminars with industry leaders; and providing appropriate referrals to Michigan entrepreneurial ecosystem partners to meet specific needs of the entrepreneur, according to industry or growth acceleration.
Entrepreneur Support Grant
The Entrepreneur Support Grant is a $2 million follow-on funding opportunity for exceptional performance from a previous awardee of the Inclusive Entrepreneurship Support Grant. Dunamis Charge, an EV charging solutions company based in Detroit, was selected for this opportunity.
The grants enjoyed broad support in the Michigan state legislature.
“As Chair of the Labor and Economic Opportunity budget, I know that providing entrepreneurs with wraparound supports for every stage of their business promotes greater economic equity and empowers business leaders to continue to build a stronger entrepreneurial environment,” said State Sen. Mary Cavanagh (D-Redford). “Congratulations to the grant recipients and I look forward to your continued contributions to our local communities and the entire state of Michigan.”
“These grants help support vital small business development in our local communities and the great service of organizations like the National Veteran Business Development Council. When we work to strengthen small businesses and our local economies, we build stronger communities for families across our state,” said State Sen. Michael Webber (R-Rochester Hills).
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About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook, Instagram, LinkedIn, and Twitter.
