PHOTO: Mich. Lt. Gov. Garlin Gilchrist (D), Gov. Gretchen Whitmer (D) and state Rep. Jason Hoskins (D-Southfield) celebrate the bill signing of the Michigan Innovation Fund on Jan. 13, 2025.

SOUTHFIELD, Mich., July 17, 2025 — State Rep. Jason Hoskins (D–Southfield) celebrated today the announcement of the first recipients of the Michigan Innovation Fund, a $60 million investment initiative that Rep. Hoskins sponsored to support high-growth startups and early-stage venture funds across the state.

“The Michigan Innovation Fund is about investing in our people, keeping talent in-state and ensuring that the next big idea has the resources to take root in Michigan. I’m proud to have sponsored this bipartisan legislation to build an economy that works for everyone by empowering the risk-takers and job creators of tomorrow,” Hoskins said.

The first round of recipients includes:

Existing Evergreen Funds:

  • ID Ventures – $10.6 million
  • Ann Arbor SPARK – $10.6 million
  • University of Michigan Accelerate Blue Fund – $10.6 million
  • MSU Research Foundation – $10.6 million
  • Western Michigan University Biosciences Research & Commercialization Center – $5.3 million

Emerging Evergreen Funds:

  • InvestUP – $1.6 million
  • 20Fathoms – $1.6 million
  • Grand Valley Research Corp. – $1.6 million

“I congratulate every single recipient of this critical fund,” Hoskins added. “Michigan is home to some of the most creative minds and innovative institutions in the country. Each award represents a new chapter of growth, jobs and innovation in our communities. With this investment, we’re sending a clear message: Michigan believes in its talent — and we’re committed to turning bold ideas into engines of lasting prosperity for all Michiganders.”

The remaining $7.2 million will be awarded to entrepreneurs and startups through a final round of applications due by August 8, 2025, at noon. For details, visit the Michigan Innovation Fund website.

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