EntryPoint was excited to partner with Michigan Venture Capital Association, the nonprofit trade association designed to increase the amount of capital and talent for Michigan’s entrepreneurial and investment community, to publish the 2019 MVCA Research Report. The 30-page annual research report is a comprehensive analysis of venture capital investment activity in Michigan.
According to our research, Michigan had a record-breaking year in 2018 with 61 startups in the state receiving $385 million from Michigan venture capital firms; however, there is heightened demand for additional capital to support the growth of local startup companies. The report showed an estimated $967 million of additional venture capital is needed to support the growth of Michigan startups in the next two years.
Michigan has the critical components needed to build a strong entrepreneurial and investment community – talent, research and community support – but as more companies launch and grow in the state, capital availability needs to be a priority. While the MVCA Annual Research Report focuses on Michigan specifically, the issue of capital availability is reflective of many entrepreneurial ecosystems across the Midwest. Capital availability is one of the main reasons why entrepreneurs tend to turn to out-of-state investors – or relocate – to fund their companies. So, while this past year was an incredible year of successes for Michigan’s entrepreneurial ecosystem, the report underscores the need to provide funding resources to entrepreneurs, so that we can sustain the growth of current and future startups in the region.
At EntryPoint, we LOVE working with economic development organizations and nonprofits that are strategic, value listening to the needs of community members, and are passionate about building more opportunity and vibrancy in their communities.
Here’s what the entrepreneurial ecosystem had to say about this report!
“The MVCA Annual Research Report is an instrumental tool that Michigan’s entrepreneurial and investment community utilizes in order to share the story of the investment and entrepreneurial ecosystem that exists in Michigan. The in-depth analysis that EntryPoint provides in this research report is crucial in our outreach efforts as we advocate for more venture capital to be available for startup companies.”
–Ara Topouzian, Executive Director of the Michigan Venture Capital Association (client)
“The MVCA Annual Research Report is a nationally recognized report that provides a comprehensive analysis of Michigan’s entrepreneurial and investment community. The report is an invaluable resource that Michigan’s entrepreneurial and investment community uses to understand the state of the industry as well as share with out-of-state investors and legislators.”
–Tom Shehab, MD, Chairman of the MVCA Board of Directors and Managing Partner of Arboretum Ventures
“Emily Heintz and the EntryPoint team have the expertise and connections to drive a successful research report. EntryPoint not only gathered the data and developed the messaging, but also provided strategic guidance on distributing the report effectively to our key stakeholders, including out-of-state venture firms and legislators. The report is a fundamental piece of our organization that has helped us identify the needs of our investment community and develop programs that will grow the entrepreneurial ecosystem.”
–Molly Theis, Program Director of the Michigan Venture Capital Association (client)
“The MVCA Annual Research Report is nationally recognized and one of the organization’s most valuable assets. The report is fundamental to our ability to assess the state of the industry, effectively drive policy initiatives and promote efforts to strengthen the high-tech entrepreneurial environment. The production of the report is a major undertaking that requires a great deal of effort, coordination, analytical aptitude, market awareness and diligence. EntryPoint, and Emily in particular, were exceptional in managing this very complex task, including bridging connections between the various stakeholders and important constituents in the entrepreneurial community. I couldn’t be more pleased with our relationship with EntryPoint and look forward to working with them again in the future.”
–Josh Beebe, Chairman of the MVCA Research Committee and Director of MK Capital
“The MVCA Annual Research Report continues to be the showcase state report on venture capital, and it rests on the analytics of Emily and EntryPoint, but the secret to getting it done is the trust that EntryPoint has earned with the venture community in Michigan.”
–Jeffrey Rinvelt, Renaissance Venture Capital Fund of Funds