Michigan Rise Receives 2023 Community Impact Award at MVCA Annual Ceremony
Michigan Rise Pre-Seed Fund III, a wholly owned subsidiary of the MSU Research Foundation, received the Community Impact award at the Michigan Venture Capital Association annual awards dinner, highlighting significant contributions to Michigan’s startup ecosystem.
Members of the Michigan Rise team accept the 2023 Community Impact Award at the MVCA Annual Ceremony at the Fillmore in Detroit.
EAST LANSING, MI — Michigan Rise Pre-Seed Fund III received the Community Impact award at the Michigan Venture Capital Association (MVCA) Annual Awards Dinner, held on Sept. 28, 2023. The event recognizes leaders in Michigan’s entrepreneurial and investment community and celebrates their achievements.
“It’s an honor to be recognized by our peers who are all doing incredible work to advance the tech startup ecosystem in Michigan,” said Prem Bodagala, Director of Michigan Rise. “This award is a recognition of the tremendous impact our equity and loan portfolio companies are making.”
The Michigan Rise Pre-Seed Fund III is an early-stage venture fund that supports entrepreneurs and technology startups across Michigan through capital investments, coaching, and assistance in securing grant funding. The Michigan Rise Pre-Seed Fund III was made possible with support from the Michigan Economic Development Corporation (MEDC) and the MSU Research Foundation.
“The team at Michigan Rise has worked incredibly hard this year and has made over 100 investments in under three years,” said Jeff Wesley, Executive Director of Michigan Rise. “With over $14 million invested in Michigan’s startup ecosystem, I couldn’t be more pleased with our team’s dedication to furthering investment in high-tech, high-growth companies and the critical role Michigan Rise plays in supporting the MEDC in economic development throughout the state.”
The Community Impact Award recognizes organizations, events or individuals that create meaningful and effective connections, essential for building Michigan’s entrepreneurial economy. The award honors an organization that promotes collaboration and provides critical resources for the growth of Michigan’s entrepreneurial and investment community.
The MVCA Awards Ceremony is an annual event that brings together entrepreneurs, investors, educators, and ecosystem builders in Michigan, with a focus on high-growth, high-potential startups. This year’s event, hosted at the Fillmore in Detroit, MI, marked its 16th anniversary, celebrating the accomplishments driving innovation at Michigan’s largest investor networking event.
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About Michigan State University Research Foundation
The Michigan State University Research Foundation (MSU Research Foundation) was established in 1973 as an independent nonprofit committed to the commercialization of cutting-edge technologies invented by MSU faculty, staff, and students. Today, the MSU Research Foundation is focused on enhancing research, encouraging innovation and entrepreneurship, and facilitating economic growth at MSU and across the state through its subsidiary organizations—Spartan Innovations, Red Cedar Ventures, and Michigan Rise Pre-Seed Fund III—and its Research Parks. Learn more at msufoundation.org.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. Learn more at MichiganBusiness.org.