MSU Research Foundation Releases 2023-2024 Impact Report
Annual report highlights $11.8 million in grants, support for over 180 startups, and advancements in Michigan’s innovation ecosystem.
The MSU Research Foundation 2023-2024 Impact Report highlights $11.8 million in grants, support for over 180 startups, and advancements in Michigan’s innovation ecosystem.
EAST LANSING, Mich. (Nov. 26, 2024)—The Michigan State University Research Foundation has released its 2023-2024 Impact Report, outlining achievements in research funding, technology commercialization, and entrepreneurial support that help drive innovation and economic growth across the state.
In the past fiscal year, the Foundation approved $11.8 million in grants to Michigan State University, bringing its lifetime contributions to nearly $400 million. The report highlights additional accomplishments, including:
Securing a $1 million National Science Foundation Regional Engines Development Award for the Sustainability Hub for an Alternative Packaging Ecosystem (SHAPE) program.
Receiving a $500,000 EDA Tech Hubs Strategy Development Award for the Materials Advancement and Research Solutions (MARS) program.
Supporting more than 180 active startup companies that have collectively raised $1.2 billion in co-investor funding.
Launching two new Conquer Accelerator programs focused on the healthcare, and finance and insurance industries.
Marking the 15th anniversary of the Technology Innovation Center (TIC), which has helped launch over 120 high-tech startups.
The Foundation's venture funds, Red Cedar Ventures and Michigan Rise Pre-Seed Fund III, closed over 90 startup investments in the year, supporting companies in high-tech fields such as quantum computing and eco-friendly cargo drones.
Notable success stories include RedoxBlox, named MSU Startup of the Year. The company is developing advanced energy storage solutions to support global decarbonization efforts and has already secured Dow Chemical Company as a major customer.
“Together, these achievements reflect our commitment to driving real impact,” said David Washburn, Chief Executive Officer. “From creating jobs and fostering innovation to supporting both established and emerging industries, we're helping MSU stay at the forefront of discovery while strengthening the region's economy.”
The complete 2023-2024 Impact Report is available at msufoundation.org.