Financial support to grow your innovative business or idea
The Matching Fund Program for Monroe County supports and encourages business growth with a variety of seed funding opportunities.
We want to give our best and brightest the chance to build their future here in Monroe County. We want to welcome home those who had to leave in order to find a good paying job. And finally, we want those who are looking for a great place to start a business to consider Monroe County.
Most new businesses start with a good idea and a little help from friends and family. We’re here to serve as your extended family by assisting you with funding, guidance and the support you need to accomplish your goals. When you succeed … we all succeed.
ABOUT THE PROGRAM
Wanting to increase entrepreneurial support in the county, the Monroe County Business Development Corporation partnered with ProMedica Innovations to develop a way to assist entrepreneurs with making their dreams a reality. Both organizations have pledged $250,000 to create a $500,000 revolving loan fund to support investments in qualified businesses and start-ups located in Monroe County, Michigan.
In addition to locating in Monroe County, eligible businesses must have the potential to create new jobs. The fund is particularly geared toward leading-edge technology and advanced manufacturing businesses that have high growth potential.
Our goals are simple:
- New high-paying jobs that benefit Monroe County’s community and residents
- New opportunities for capital formation
- Growth in new business startups
- Self-sustaining initiatives or high value exits
Think that you idea is ready? Fill out an application! Things to note:
- Applications are accepted at any time throughout the year.
- The application is used to determine if a business or idea meets the base level qualifications and goals of the program.
- If your business does qualify, we will schedule an interview to learn a more about you, your team, your business, and how we can help.
If it looks like a good fit, one of our team members will be assigned to present your application to our Matching Fund Committee. That individual will work closely with you to prepare for additional questions from the committee. The Matching Fund Committee approves and structures all investments. If we do make an investment, the Monroe County Business Development Corporation will administer the program and service program loans.
If your idea needs a little more work, we can help there too. The Small Business Development Center’s devoted team of experienced business leaders and knowledge experts can help you work on your plan. Monroe County’s SBDC services fall under the Greater Washtenaw Region; for more information, please contact the BDC or visit SBDC.
Here are some examples of organizations that do not fit the program:
- Organizations that discriminate in either policy or practice against people because of their age, race, national origin, ethnicity, creed, gender, sexual orientation or disability
- Programs that proselytize or promote specific religious doctrines
- Sponsorships for fundraising events
- Scholarships or direct financial awards to individuals
- Unsolicited proposals from colleges and universities
- Organizations seeking funding for lobbying or political activities
If you have any questions or concerns, please feel free to contact the Monroe County BDC at 734-241-8081 or via email.
Vital Tech Services, LLC
On Thursday, July 26, Vital Tech Services became the first recipient of the Matching Fund Program and received a check for $12,500.
Vital Tech was established in 2013 to provide software database solutions along with CAD services for medium and large companies focusing on the power generation industry. Today, they provide software and service to multiple industries.
The funding will be used to launch another aspect of asset management software. "We are working on a medical and security 3D asset management system," said Jean Dahm, founder, CEO and President of Vital Tech Services, LLC. Visit Vital Tech to learn more about this Monroe County business!