2024-2025 Impact Report
Ventures
In 2024–2025, the MSU Research Foundation strengthened the pipeline of high-potential companies emerging from Michigan State University and across the region. Through expert coaching, translational funding, and hands-on venture development support, the Foundation helped researchers and founders advance technologies from concept to commercialization.
This year, five MSU client companies licensed or optioned university technologies, marking one of the strongest commercialization pipelines to date. Early-stage MSU technologies received $917,000 in translational grant funding and were supported by four postdoctoral researchers through the Venture Fellows Postdoc Program.
Client companies saw notable external validation, including:
- Advertent Biotherapeutics received a Phase II SBIR award
- SitSense secured a Fast Track SBIR and was named MSU’s 2025 Startup of the Year
Across West Michigan, the Local Development Finance Authority (LDFA) renewed its contract with the MSU Research Foundation for three additional years, providing $1.1 million in annual funding to expand entrepreneurial programming and support more startups in Grand Rapids.
The Foundation’s venture programs contributed to the launch of eight new startup companies, supported by 24 Entrepreneurs-in-Residence and Mentors-in-Residence who provide targeted guidance that helps founders build strong, investable businesses.
By the Numbers:
This year’s venture activity demonstrates strong commercialization momentum—from technology development to early investment and statewide funding support.
134
MSU Technologies SupportedHands-on guidance from MIRs and EIRs that advances technologies toward market readiness.
99
Venture Investments MadeProviding the critical early funding that helps startups validate technology, secure talent, and move toward market readiness.
$540k
Non-Dilutive Funding Raised$244k
Business Accelerator Fund SupportFunding that helps startups validate technology and move toward investment readiness.
8
Startup Companies FormedNew ventures expanding Michigan’s pipeline of high-potential, technology-driven companies.
4
Successful ExitsStartup acquisitions demonstrating long-term venture success and ecosystem maturity.
2024-2025 Investments & Financing:
The MSU Research Foundation continued to strengthen Michigan’s startup pipeline, remaining one of the state’s most active early-stage investors through its Red Cedar Ventures and Michigan Rise funds.
This year, the Foundation launched the Michigan Rise Evergreen Fund to ensure long-term, sustainable support for emerging companies, expanded founder resources through a new startup jobs board, and introduced the Spartan Founders Club, created in partnership with the MSU Burgess Institute to connect Spartan entrepreneurs and expand opportunities to invest through the Spartan Angel Network. The Foundation also celebrated four exits, including Micro-LAM, Pocketnest, ATLAS Space Operations, and Takanock.
The Michigan Rise Purchase Order Financing program also reached a major milestone, providing $7.55 million in cumulative loans to help founders close critical early revenue gaps. The year concluded with the Foundation receiving the Michigan Economic Development Corporation (MEDC) PitchMI grant, enabling even greater impact across Michigan’s innovation ecosystem.
Related Stories:
Momentum across the venture pipeline is evident in these new investments, funding milestones, and statewide initiatives driving Michigan’s innovation ecosystem.
