MSU received two grants Wednesday totaling $150,000 as part of the Michigan Initiative for Innovation and Entrepreneurship, a consortium of the 15 public universities in the state.
Shawnee Vickery, the associate dean for academic affairs and research at the Eli Broad College of Business, and marketing department chair Roger Calantone received a grant of $70,000 for their project to help mid-Michigan companies revitalize their business models.
“We’re very excited about working with these companies,” Vickery said. “We envision they are going to have a very good outcome and they will contribute to economic development in the mid-Michigan area and beyond.”
The project is part of a three-step process that provides a blueprint for companies to reach their growth potential, eventually providing more jobs to the area, Vickery said.
The project came from a student team Vickery led that worked with the Demmer Corp. to help them with their strategic planning.
Bill Demmer, CEO of Demmer Corp., liked the project so much, he recruited five other area companies to support the grant proposal.
Overall, about $1.3 million was given to 20 projects, all hoping to positively affect Michigan’s slumping economy. The group, hoping to create 200 startups, wants to raise $75 million to hand out over the next seven years.
Also focused on revitalizing the mid-Michigan area, $80,000 was given to a team of researchers from five schools in mid-Michigan, led by MSU, for an entrepreneurship internship program that will match students with businesses throughout the region. The students will go through an intensive computer-based course, or Virtual Boot Camp, covering all elements of business plans and the funding process.
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