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    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

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    Members of Ballet Folklórico of Wayne State University rehearse calabaceados, a high-energy dance style originating from Baja California, at the Student Center in Detroit, Michigan, on April 16, 2025. The group is preparing for their “¡Viva el Norte!” presentation, which will feature traditional dances from northern Mexico

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EL CENTRAL Hispanic News
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  • About
    • Introducing the partnership with the Race and Justice reporting Initiative
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    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Juana Saavedra, business development manager at Alliance Catholic Credit Union, at left, met with former ACCU employee Brenda Villarruel to share their journeys as businesswomen and discuss their future goals

    Businesswomen and Entrepreneurs Share More than Contacts at Networking Event

    Porfirismo and Mexican monumental architecture

    Porfirismo and Mexican monumental architecture

    Community Mourns the Loss of Beloved Couple Making a Difference in Detroit

    Community Mourns the Loss of Beloved Couple Making a Difference in Detroit

    Caesar Chavez Academy’s Robotics Team Represents Southwest Detroit at World Robotics Championship

    Caesar Chavez Academy’s Robotics Team Represents Southwest Detroit at World Robotics Championship

    Basilica of the National Sanctuary Of Our Lady Of Charity of Cobre

    Basilica of the National Sanctuary Of Our Lady Of Charity of Cobre

    Basilica of Saint Mary Major, Vatican City

    Basilica of Saint Mary Major, Vatican City

    James Craig, un ex jefe de policía de Detroit, anuncia su campaña para alcalde a los reporteros de Executive Cuts & More. Foto: Annalise Frank/Axios

    Un punto clave: Entrevista con James Craig

    Preparing for the Cinco de Mayo Parade in 2025

  • Community
    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Juana Saavedra, business development manager at Alliance Catholic Credit Union, at left, met with former ACCU employee Brenda Villarruel to share their journeys as businesswomen and discuss their future goals

    Businesswomen and Entrepreneurs Share More than Contacts at Networking Event

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    La Jali Arrives: Bringing Mexicantown Heritage to Taylor

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    Community Mourns the Loss of Beloved Couple Making a Difference in Detroit

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  • Featured
    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Caesar Chavez Academy’s Robotics Team Represents Southwest Detroit at World Robotics Championship

    Caesar Chavez Academy’s Robotics Team Represents Southwest Detroit at World Robotics Championship

    El Arzobispo Edward J. Weisenburger dirige las oraciones durante una Misa en memoria del papa Francisco el 21 de abril en la Cathedral of the Most Blessed Sacrament en Detroit. El papa Francisco, quien ha liderado la Iglesia católica desde 2013, murió la madrugada del lunes, el día después del Domingo de Pascua. (Foto de Valaurian Waller | Detroit Catholic)

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    La Basilica of Ste. Anne, un emblemático templo de 139 añosserá completamente restaurada gracias a una alianza transformadora con The Catholic Initiative. The 139-year-old Basilica of Ste. Anne will undergo a $30 million “complete rehabilitation” thanks to a “transforma- tive partnership” with The Catholic Initiative. (Foto de / Photo by James Silvestri | Special to Detroit Catholic)

    ‘Innovative partnership’ will secure future of Ste. Anne, preserve basilica for generations

    Archbishop-designate Edward J. Weinsenburger stands before St. Augustine Cathedral in Tucson, Arizona.

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  • Opinion
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    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

    Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

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    Members of Ballet Folklórico of Wayne State University rehearse calabaceados, a high-energy dance style originating from Baja California, at the Student Center in Detroit, Michigan, on April 16, 2025. The group is preparing for their “¡Viva el Norte!” presentation, which will feature traditional dances from northern Mexico

    Viva El Norte! WSU Ballet Folklorico Celebrates Northern Mexico

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    Yaidimar Narvaez left, and Kathleen Dickinson

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Michigan Innovation Fund to Create $60M Program to Support Startups in Michigan

EL CENTRAL by EL CENTRAL
January 16, 2025
in Business, Community, Español
Reading Time: 8 mins read
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Lansing, Michigan – This week, Governor Gretchen Whitmer signed bills at NewLab in Southwest Detroit which will create the Michigan Innovation Fund. This $60 million fund will provide critical funding to Michigan’s existing early-stage evergreen venture funds, emerging evergreen funds, and the entrepreneur ecosystem.

The Michigan Innovation Fund is designed to provide long-term investments in Michigan’s startup companies, grow and diversify the economy, create jobs; and build a strong, competitive, and sustainable financial network to support startup companies across Michigan. This marks the first major program for entrepreneurs, founders and funds in over a decade.

“For too long, we overlooked the importance of helping grow all areas of our economy, especially Michigan entrepreneurs and the impact they can have on future jobs and economic growth,” said Representative Alabas Farhat (D-Dearborn). “With the Michigan Innovation Fund, we have a powerful tool to support new business creation and stop the trend of companies leaving Michigan to find the startup capital they need. The investments we make in entrepreneurs, innovative technologies, and new industries today will power Michigan’s economic future as well as help support an innovation economy and attract talent.”

Recent studies show that Michigan is losing significant jobs, talent and investment opportunities due to the lack of early-stage investment capital available to would-be entrepreneurs. The $60M Michigan Innovation Fund is a big step forward in giving Michigan a chance to become a leader in early-stage, pre-seed funding, combining entrepreneurial support services and early-stage capital to create and nurture an entrepreneurial ecosystem that can grow over time, reinvest in new and growing assets and develop a sustainable network of support for entrepreneurial activity across the state.

“Michigan has amazing talent and strong research institutions,” said Representative Jason Hoskins (D-Southfield). “There is real potential to be a leader in creating and growing innovative startups. Other states, especially on the coasts, figured this out a long time ago, and more recently our neighboring states. The Michigan Innovation Fund is key if we truly want to generate more opportunities for entrepreneurs, leverage the state’s research universities, and see our state emerge as a leader in business growth and compete with our Midwest states.”   

Under the plan, funding would be awarded to nonprofit and university-backed funds with proven track records and all investment returns would be recycled back into the respective funds for future investment in Michigan companies, ensuring long-term impact. The five established, evergreen funds include:

  • ID Ventures at Invest Detroit
  • Ann Arbor SPARK
  • University of Michigan’s Accelerate Blue Fund
  • MSU Research Foundation
  • Western Michigan University’s Biosciences Research and Commercialization Center (BRCC)

“We are in a battle for talent and investment on a global stage, and the Innovation Fund would be a crucial step in making Michigan more competitive and help our state to once again be a leader in innovation,” said Mark de la Vergne, Director, Economic Innovation and Policy, Michigan Central. Michigan Central and our partners have made incredible progress in attracting cutting edge startups from across the country and around the world, and passage of this legislation would go a long way in accelerating the progress not only in Detroit but all over Michigan.

The Michigan Innovation Fund’s investment in these funds will go a long way to creating evergreen, self-sustaining funds that recycle capital and provide long-term investments in Michigan startups. Many companies that get their start in this state have been forced to leave to follow investment capital in other states, increasingly to Ohio. The Michigan Innovation Fund will help provide critical early-stage funding and keep companies here in Michigan.

“The Michigan Innovation Fund is an exciting step forward for Michigan’s entrepreneurs. We are investing in our state’s talent and reinvigorating our entrepreneurial ecosystem by giving diverse and ambitious founders the tools and support they need to succeed,” said Patti Glaza, Executive Vice President of Invest Detroit and Managing Partner at ID Ventures. “This is the first program of its kind here in Michigan, and it’s going to drive successful innovation commercialization and economic growth in our state.”

Gov. Gretchen Whitmer holds up the Michigan Innovation Fund bills signed into law this week flanked by Rep. Alabas Farhat, far left, Lt. Gov. Garlin Gilchrist, left, and Rep. Tyrone Carter, back row center
Gov. Gretchen Whitmer holds up the Michigan Innovation Fund bills signed into law this week flanked by Rep. Alabas Farhat, far left, Lt. Gov. Garlin Gilchrist, left, and Rep. Tyrone Carter, back row center

Funding would provide crucial support for entrepreneurs and startups by helping to create self-sustaining nonprofit early-stage evergreen funds and leverage existing fund infrastructure

Jeff Donofrio, President and CEO, Business Leaders For Michigan:

“The Michigan Innovation Fund will invest in the next generation of great Michigan companies, continuing our state’s legacy of building prosperity from innovation. The fund will help spur high-wage job growth and bring new technologies here, allowing entrepreneurs to start and grow in our state.”

Hassan Beydoun, Group Executive for Economic Development, City of Detroit

The Michigan Innovation Fund is a smart investment in the early-stage, high-growth companies that will power Michigan’s future economic growth and prosperity.  We look forward to working with our partners in the legislature to continue delivering our founders and funders the tools they need. 

“I truly believe the next great business is here in Michigan, and the Michigan Innovation Fund will play a vital role in advancing our state’s economic ecosystem and helping our entrepreneurs thrive,” said Rep. VanWoerkom, Republican vice chair of the House Appropriations Subcommittee on Labor and Economic Opportunity.

 

El Fondo de Innovación de Michigan creará un programa de $60 millones para apoyar a las empresas emergentes.

Lansing, Michigan – Esta semana en NewLab del suroeste de Detroit, la gobernadora Gretchen Whitmer firmó proyectos de ley que crearán el Fondo de Innovación de Michigan. Este fondo de $60 millones proporcionará un financiamiento crítico para los fondos de capital de riesgo permanentes en etapa inicial existentes de Michigan, los fondos permanentes emergentes y el ecosistema de emprendedores.

El Fondo de Innovación de Michigan está diseñado para proporcionar inversiones a largo plazo en las empresas emergentes de Michigan, hacer crecer y diversificar la economía, crear empleos; y construir una red financiera sólida, competitiva y sostenible para apoyar a las nuevas empresas. Este es el primer programa importante para emprendedores, fundadores y fondos en más de una década.

“Durante mucho tiempo, pasamos por alto la importancia de ayudar a hacer crecer todas las áreas económicas, especialmente con los emprendedores de Michigan y el impacto que puede tener en el empleo futuro y el crecimiento económico”, dijo el representante Alabas Farhat (D-Dearborn). “Con el Fondo de Innovación de Michigan, tenemos una herramienta poderosa para apoyar la creación de nuevas empresas y detener la tendencia de las empresas de abandonar el estado, para buscar el capital inicial que necesitan. Las inversiones que hacemos hoy en emprendedores, tecnologías innovadoras y nuevas industrias impulsarán el futuro económico de Michigan, además de ayudar a respaldar una economía de innovación y atraer talento”.

Estudios recientes muestran que Michigan está perdiendo importantes puestos de trabajo, talento y oportunidad de inversión debido a la falta de capital inicial disponible para los posibles emprendedores. El Fondo de Innovación de Michigan de 60 millones de dólares, es un gran paso para darle a Michigan la oportunidad de convertirse en un líder en inversión inicial, pre-semilla, combinando servicios de apoyo empresarial y capital inicial para crear y nutrir un ecosistema empresarial que pueda crecer con el tiempo, reinvertir en activos nuevos y en crecimiento y desarrollar una red sostenible de apoyo a la actividad empresarial en todo el estado.

“Michigan tiene un talento increíble y sólidas instituciones de investigación”, dijo el representante Jason Hoskins (D-Southfield). “Existe un potencial real para ser un líder en la creación y el crecimiento de nuevas empresas innovadoras. En otros estados, especialmente en la costa, se dieron cuenta de esto desde hace mucho, y más recientemente en nuestros estados vecinos. El Fondo de Innovación de Michigan es clave si realmente queremos generar más oportunidades para los emprendedores, aprovechar las universidades de investigación del estado y ver a nuestro estado surgir como un líder en el crecimiento empresarial y competir con nuestros estados del Medio Oeste”.

Según el plan, se otorgarían fondos a ONG respaldadas por universidades, con antecedentes comprobados y todos los retornos de inversión se reciclarían nuevamente en los respectivos fondos para futuras inversiones en empresas de Michigan, lo que garantiza un impacto a largo plazo. Los cinco fondos establecidos y permanentes incluyen:

  • ID Ventures en Invest Detroit
  • Ann Arbor SPARK
  • University of Michigan’s Accelerate Blue Fund
  • Fundación de Investigación MSU
  • Centro de Investigación y Comercialización de Biociencias (BRCC) de la Universidad de Western Michigan

“Estamos en una batalla por el talento y la inversión en un escenario global, y el Fondo de Innovación sería un paso crucial para hacer que Michigan sea más competitivo y ayudar a nuestro estado a ser una vez más un líder en innovación”, dijo Mark de la Vergne, Director de Innovación Económica y Política de Michigan Central. Michigan Central y nuestros socios han logrado un progreso increíble en la atracción de empresas emergentes de vanguardia de todo el país y del mundo, y la aprobación de esta legislación contribuiría en gran medida a acelerar el progreso no solo en Detroit sino en todo Michigan.

Gov. Gretchen Whitmer holds up the Michigan Innovation Fund bills signed into law this week flank
Gov. Gretchen Whitmer holds up the Michigan Innovation Fund bills signed into law this week flank

La inversión del Fondo de Innovación de Michigan en este capital, contribuirá en gran medida a la creación de un fondo permanente autosostenible, que recicle el capital y brinde inversión a largo plazo a las empresas emergentes de Michigan. Muchas empresas que han iniciado en Michigan se han visto obligadas a irse para conseguir capital de inversión en otro lugar, a menudo a Ohio. El Fondo de Innovación de Michigan ayudará a proporcionar financiación crítica en la etapa inicial y a mantener a las empresas aquí.

“El Fondo de Innovación de Michigan es un gran paso adelante para los emprendedores. Estamos invirtiendo en el talento de nuestro estado y revitalizando nuestro ecosistema empresarial al brindarles a los fundadores diversos y ambiciosos las herramientas y el apoyo que necesitan para tener éxito”, dijo Patti Glaza, vicepresidenta ejecutiva de Invest Detroit y socia gerente de ID Ventures. “Este es el primer programa de este tipo aquí, y va a impulsar la comercialización exitosa de la innovación y el crecimiento económico en nuestro estado”.

Traducción Carmen Elena Luna.

Tags: Michigansmall businesssmall businesses
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Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

Southwest Detroit’s Cinco de Mayo Parade Prevails Over “Rain and Rumors” to the Enjoyment of Thousands

May 8, 2025
Juana Saavedra, business development manager at Alliance Catholic Credit Union, at left, met with former ACCU employee Brenda Villarruel to share their journeys as businesswomen and discuss their future goals

Businesswomen and Entrepreneurs Share More than Contacts at Networking Event

May 8, 2025
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