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$6 million in funding made available to Michigan startups
Last week, $6 million in funding was approved by the Michigan Strategic Fund for startup companies in the state. The $3 million Pre-Seed Fund III granted by the Michigan Economic Development Corporation will be administered by the Michigan State University Foundation and will support early-stage startups.
Gender and racial makeup of startup's founding team impacts funding
A recent report by DocSend Inc., a subsidiary of DropBox, surveyed over 300 pre-seed startups, finding that on average, in terms of gender alone, mixed teams raise the most funds, while all-male teams raise the least. In terms of both gender and race, on average, mixed gendered teams with minority members raise the most funds while all-male teams with no minority members raise the least.