The Michigan Outdoor Innovation Fund, a $3 million pre-seed fund, aims to support Michigan-based entrepreneurs in the outdoor recreation industry with investments ranging from $50,000 to $250,000.

Information on the Target

The target initiative is the Michigan Outdoor Innovation Fund, a newly established $3 million pre-seed fund designed to provide financial support to entrepreneurs within Michigan's outdoor recreation industry. This fund will facilitate investments ranging from $50,000 to $250,000 in promising startups that focus on innovative technologies geared towards enhancing outdoor activities. Notably, it is the first fund of its kind to be established in the Upper Peninsula, as well as the only seed fund located in a rural area across the state of Michigan.

Managed by InvestUP in collaboration with the Michigan Economic Development Corporation (MEDC), the Michigan Outdoor Innovation Fund aims to strengthen Michigan’s early-stage startup ecosystem, contribute to a vibrant capital landscape, and stimulate the growth of high-tech companies in outdoor recreation. The initiative targets around 30 to 35 companies over a span of two to three years to ensure sustained support for the local entrepreneurial community.

Industry Overview in Michigan

The outdoor recreation sector plays a pivotal role in Michigan's economy, boasting a significant economic impact of $12.4 billion and supporting nearly 120,000 jobs across a variety of fields, including design, m