Business & Economy
State money encourages new high-tech start-ups
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By SILU GUO
Capital News Service
LANSING – With $8.5 million in grans to award, the state is encouraging local programs to support start-up high-tech companies. The Michigan Strategic Fund and Michigan Economic Development Corp. (MEDC) offer the funding for outstanding programs around the state, with a focus on Northwestern Michigan, Grand Rapids and suburban Detroit. The money will support three years of services for each project, said Paula Sorrell, managing director of entrepreneurial service at MEDC. These programs, called ‘incubator accelerators,’ are designed to support start-ups through an array of resources and services.