Automation Alley

Programs & Services >> Entrepreneurism >> Funding

To accelerate the growth of small business and startups, Automation Alley offers access to a variety of funding resources, including grants, loans and private investment. 

Automation Alley Pre-Seed Fund
For Southeast Michigan startup companies in competitive-edge technologies (e.g. alternative energy, advanced manufacturing, life sciences, homeland security, information technology, etc.).
Range: Up to $250,000 investment with match

Business Accelerator Fund
For Michigan companies commercializing advanced technology that have not raised more than $1 million in private sector capital and do not have more than $2.5 million in annual revenue. Preference is given to companies that are product-based with a highly scalable and protectable business model, collaborate with other Michigan companies and contribute significantly to a region’s technology/industry cluster or strategic plan.
Range: Up to $50,000 grant to fund business accelerator services

Small Business Innovation Research (SBIR) Program*
For small businesses with new, high-tech innovation ideas or new applications for patented technologies. This is a highly competitive program that encourages domestic small businesses to engage in federal research and development that has the potential for commercialization.
Range: Phase I: Up to $150,000 for six months, Phase II: Up to $1 million for two years (upon successful completion of Phase I)

Small Business Technology Transfer (STTR) Program*
For small businesses interested in collaborating with nonprofit research institutions. This program expands funding opportunities in the federal innovation research and development arena.
Range:  Phase I: Up to $100,000 for one year, Phase II: Up to $750,000 for two years (upon successful completion of Phase I)

*The Michigan SBIR/STTR Assistance Program provides SBIR/STTR training and proposal development services to technology companies, with costs covered in whole or in part by the state. The program is funded by the Michigan Strategic Fund, administered by the Michigan Economic Development Corporation and managed by BBC Entrepreneurial Training & Consulting. 

First Step Fund
For emerging and newly-formed small businesses in Southeast Michigan that have successfully completed a training program through a qualified regional business accelerator or incubator.Companies must be past the concept development and analysis phase and be close to initial sales.
Range: $10,000-$50,000 loan

Private Investment
Automation Alley assists startups and entrepreneurs in identifying and pursuing private investments (e.g. angel funds, venture capital funds, etc.).
Range: Not specified

For more information on funding, contact the Automation Alley Resource Center at 800-427-5100 or info@automationalley.com. 

 Additional Resources:

Startup
Angel and VC Funding
SBA Funding
State of Michigan's 21st Century Jobs Fund

Early Stage
Credit Insurance
Innovative Commercial Financing
Leasing
VC Funding

Established Stage
Angel and VC Funding
Sub Debt Funding
Supply Chain Finance Solution: Early Pay