Macomb Community College To Host Innovation Fund Informational Session
By Edward Cardenas
CLINTON TOWNSHIP (CBS Detroit) - Macomb Community College will hold an informational session Tuesday about applying for inaugural funding from Innovation Fund Macomb Community College, Powered by JPMorgan Chase & Co.
Macomb Community College and JPMorgan Chase came together in 2014 to form the nearly $3 million Innovation Fund, which is intended to stimulate economic development and job growth among promising Detroit-area entrepreneurs and next-stage companies with high-growth potential, officials stated.
"JPMorgan Chase's contribution is not only a commitment to the economic future of Macomb County, but a commitment to fostering an entrepreneurial ecosystem in southeast Michigan," said Dr. James Jacobs, president, Macomb Community College, in a statement. "The Innovation Fund Macomb Community College represents an important, grow-your-own element in our local economic development strategy, while at the same time serves to cultivate the interests, skills and innovation of Macomb students and community residents, fueling economic momentum, investment and regional growth."
The Innovation Fund will provide capital to entrepreneurs between "family and friends" funding and the ability to attract mainstream financial investor funding, organizers stated.
JPMorgan Chase, through its foundation, is contributing $1 million to launch the Innovation Fund with Macomb Community College providing $1 million from its Strategic Fund. The college will raise another $700,000.
Entrepreneurs in nine-county Southeast Michigan area involved in high-growth technology-focused businesses, such as advanced manufacturing, information technology, alternative energy, health, and logistics and supply chain, can attend the event.
The event, from 4 – 6:30 p.m. Tuesday, will be Macomb University Center, Macomb Community College Center Campus, 44575 Garfield Road, Clinton Township.