Original Story: Crain’s Detroit Business | Author: Tom Henderson | Published: March 3, 2013
A new seed-stage fund called Detroit Innovate, which intends to help launch technology companies in Southeast Michigan and invest in existing young companies, is scheduled to be announced today. The fund has received $5 million from the New Economy Initiative for Southeast Michigan and hopes to raise at least $10 million from other state foundations. Detroit Innovate will be based in Detroit and operate as a sister fund to the $5 million First Step Fund.