58 Early-Stage Tech Companies Receive $3 Million in Support from the MEDC by Michigan Business Network published on 2020-07-01T12:16:20Z Jeffrey Mosher spoke with Fred Molnar, Vice President, MEDC Entrepreneurship & Innovation initiative and Martin Dober, Senior Vice President, Invest Detroit and Managing Director, ID Ventures to find out about Tech Startup Stabilization Fund. A total of 58 early-stage tech companies are receiving direct investments or loans from the Tech Startup Stabilization Fund, funded by the MEDC and administered by ID Ventures. The funding will support early-stage tech companies in Michigan with fewer than 50 employees and a demonstrated need for support due to the economic impacts of COVID-19. Support ranges from $10,000 to $150,000 and will allow recipients to retain their workforce, advance vital high-tech research initiatives and support operating costs, in addition to meeting other critical needs Among the 58 high-tech companies to receive support through the fund, many represent regionally diverse areas in the state, including the Upper Peninsula, Grand Rapids, Jackson, Troy, and Ann Arbor. The Tech Startup Stabilization Fund builds off MEDC’s support for small businesses and entrepreneurs around the state during COVID-19, including the Michigan Entrepreneur Resilience Fund, the Business Accelerator Fund and the Pre-Seed III Fund Genre Business