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. This is a new program designed to assist and offer support for businesses — from innovation lead businesses with a thought-through plan to second stage businesses that are established and want to go onto the next stage.
We’re committed to attracting and aiding in the expansion of businesses to help create jobs, especially leading-edge businesses and manufacturing companies looking to make investments.
scope of funding
To assist in the development of small business, the Monroe County Business Development Corporation and ProMedica are providing matching funds up to $250,000 each for assisting new and existing companies to create a $500,000 investment fund.
The BDC will administer the program and initially service any loans that may result from the program. A review committee has been established to evaluate any application for funds. Once applications are approved they will be forwarded to ProMedica Innovations for their approval process.
The Matching Fund Program’s initiative will be charged with activities which create:
- New higher-paying jobs that benefit Monroe County residents
- New avenues for capital formation
- Growth in new business startups
- Initiative is ultimately self-sustaining
The Application Process is open at all times during the year. Funding decisions will be issued at any given time that proposal has been accepted and agreed upon by the Matching Fund Program Committee as a viable project.
To start the process, the applicant will fill out the online application:
To download a printable version of the application, click here
Once you submit the application, someone from the Monroe County BDC will contact you to let you know that your application has been received and talk with you about the next steps. NOTE: If you are a startup company that does not have an action plan, see section below. And also, please scroll to see a list of ineligible requests to consider before proceeding.
If you are a startup company that does not have a plan of action in place, you may consider starting with the Small Business Development Center. A devoted team of experienced business leaders and knowledge experts will help you build an informed roadmap. Monroe County’s SBDC services fall under the Greater Washtenaw Region; for more information, please visit SBDC .
The Matching Fund Program will not consider requests for the following types of activities or entities:
- 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 doctrine
- Sponsorships for fundraising events
- Scholarships or direct financial awards to individuals
- Unsolicited proposals from colleges and universities
- Unsolicited proposals from any organization for operating or capital support
- Lobbying or political elections
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!