David Washburn:
Welcome to the MSU Research Foundation Podcast. Today I’m talking with Craig Wesley, Executive Director of 20 Fathoms—the “front porch” of the entrepreneurial community in northwest Michigan. Before we start, a quick note for listeners: we’ll mention companies we partner with and may have investments in. This podcast shouldn’t be taken as investment or legal advice. Craig, welcome.
Craig Wesley:
Thanks for having me, Dave.
David Washburn:
Let’s go back to your undergrad days. What was your path from Michigan State to where you are today?
Craig Wesley:
I had a great experience at Michigan State—still proud to say I’m the father of three Spartans. I studied in the College of Communication Arts and Sciences, which was a fantastic foundation for what became a career in sales.
That program taught me how people think, how persuasion works, leadership skills—all things that translated directly into sales roles. I started out in Toledo, Ohio, realized maybe I shouldn’t spend my twenties just in Toledo, and ended up transferring with my company to Silicon Valley. My plan was to stay two years; I stayed two decades.
It was an incredible time to be there—right as the industry was shifting from chips to the early internet and now, of course, AI. For someone who loves being around smart people and chasing opportunity, it was the perfect environment.
David Washburn:
We could do an entire episode on Silicon Valley alone, I’m sure. But eventually you moved back to Michigan and ended up in Traverse City—a pretty nice place to land. What brought you back?
Craig Wesley:
We moved in 2013 for personal reasons. Our oldest daughter was 10, and my wife and I started wondering whether we wanted to raise our family in Silicon Valley. Great for careers, yes. A little nuts for family life.
My wife is from Northern California and had only experienced northern Michigan in the summer. I kept saying, “You haven’t seen February,” and “There aren’t quite as many job opportunities as Palo Alto.” We negotiated that for a year, but ultimately decided moving near extended family would be meaningful for the kids.
She said, “You’ll figure it out,” and thankfully, it worked out great.
David Washburn:
Let’s talk about 20 Fathoms—the front porch. What’s the origin story?
Craig Wesley:
20 Fathoms started in 2018. The idea was simple: create a place for entrepreneurs—people working out of basements, coffee shops, wherever—to gather and learn from each other. Co-working wasn’t new nationally, but in Traverse City it was.
We secured a downtown space, made it attractive, added private offices, and ran more of an incubator model early on. Companies got coaching, mentorship, resources, and “graduated” as they grew. It worked well, but northern Michigan’s deal flow isn’t large enough for that model to be the whole future of the organization.
Then COVID hit—which is tough when your core business is “people gathering.” Afterward, we had big conversations about what the region truly needed: finding entrepreneurs wherever they are and providing programs and resources to move them forward.
We applied for two grants, hoping to get one. We got both. Overnight we went from a staff of four to sixteen or seventeen. One grant required us to expand beyond Traverse City into a 10-county region—7,300 square miles. That’s a major shift.
Last year was about building the team and programs. This year has been about execution and learning: What’s working? What’s needed? What should continue after the grants sunset in Q4 2026? Because grants are meant to spark activity, not sustain it forever.
And that’s where partnerships come in. The strength of northern Michigan is the ecosystem—everyone plays a role. We’re focused on early-stage innovators, but we work closely with groups across the region, across the state, and of course Michigan State.
A great example: this week we hosted Michigan State students—seniors through graduate students—doing an entrepreneurial tour of Traverse City. We listened to their ideas, showed them companies in the region, and enjoyed the energy they brought.
Last night we held a pitch event at a local brewpub—three Michigan State teams and two U-M teams, perfect for Rivalry Week. No judges, no awards—just a chance to pitch and then network with local business and community leaders who might open doors for them. That kind of connectivity is what we love to encourage.
David Washburn:
Without a major research university nearby, you still have these interesting pockets of innovation—especially around freshwater. What are you seeing from the entrepreneurs you work with?
Craig Wesley:
Innovation is absolutely the key word. Our mission is to accelerate the growth of startups and scalable businesses. We live very early in the funnel.
Freshwater is becoming a marquee area. Two big initiatives stand out.
The Freshwater Research and Innovation Center. We broke ground last month on a 38,000-square-foot facility with seven or eight wet labs plus communal lab space. It’s right across from West Bay—researchers can literally walk across the road and put equipment directly in the water. That’s remarkable anywhere, let alone in a small city.
The Boardman River FishPass Project. The Boardman River has been undergoing dam removals for years. The final earthen dam from the 1930s is being removed, restoring natural habitat. The Michigan Department of Natural Resources and U.S. Fish & Wildlife were looking for a location for a research facility—this site was perfect.
The FishPass facility will focus on identifying and sorting fish using new technologies—keeping invasive species like sea lamprey out and supporting native species. It’ll be a living laboratory on a downtown river, drawing researchers from as far away as the Netherlands.
Both facilities come online around spring 2027. And from 20 Fathoms’ perspective, we’re watching closely: what research has commercial potential? Where might new companies come from?
All of this supports our bigger goal: diversifying the regional economy beyond tourism and creating year-round jobs.
David Washburn:
Traverse City punches way above its weight. You’ve got people who’ve been successful in industry now living there, investing, mentoring. What does that community look like around 20 Fathoms?
Craig Wesley:
You nailed it—Traverse City attracts incredible people. Many folks have gone out into the world, built impressive careers, and come back with resources and experience they want to reinvest in the community.
The challenge historically has been organized capital. It’s not like Silicon Valley or major metro areas with established institutions. Up north, the capital is quieter and more dispersed. So part of our job is matchmaking—connecting investors and operators with founders and technologists.
For a town its size, it’s extraordinary how much expertise is concentrated there. And people truly want to help. It makes Traverse City a uniquely supportive place to build a company.
David Washburn:
You cover a wide geographic area. Beyond water, what opportunities are you seeing—agriculture, for example?
Craig Wesley:
Ag is definitely part of the picture, especially along the fruit belt. But innovation can come from anywhere. As we’ve expanded beyond Traverse City to places like Manistee or Petoskey, we’re finding entrepreneurs who see problems differently.
One fascinating area is drone technology. Northwestern Michigan College has world-class programs and has caught the attention of the National Guard and federal government. Northern Michigan’s combination of unique topography and low population density makes it an ideal place to test beyond-line-of-sight drones once FAA rules permit. There’s a growing community around that opportunity.
It’s remarkable what’s bubbling up around the region.
David Washburn:
What else should listeners know?
Craig Wesley:
Our connections with major universities—Michigan State in particular—are critical. We can’t take startups on the entire journey. For example, your Conquer Accelerator has been a tremendous resource. We’ve had several entrepreneurs go through that program.
Rather than reinventing an accelerator, we’d rather partner and provide pathways. That’s how we maximize impact.
David Washburn:
Speaking of partnership, PitchMI—our statewide business plan competition—held one of its regionals in Traverse City this fall. It was a fantastic event, with strong startups and great turnout. Those four regional winners will be in Lansing in spring 2026 for the finals.
Craig Wesley:
That’s going to be an incredible event. And yes, we love pitch competitions. We host TCNewTech quarterly. It draws 150–200 people, including many from downstate who want to see what’s happening up north. It’s become part of the fabric of our entrepreneurial community.
David Washburn:
It’s exciting to see what 20 Fathoms is building. Your region is unique—beautiful, full of interesting people, and now home to major research initiatives. I think big things are coming.
Craig Wesley:
We hope so. We talk a lot about innovation as a community asset. People don’t always think of it that way in Traverse City—they think about beaches, cherries, restaurants. But cultivating innovation gives the community resilience and flexibility. That’s how you become a place where people not only want to visit, but want to live and work.
David Washburn:
I can vouch for that. I’ve been to 20 Fathoms—great space, great energy, and an unbeatable view. And I’m excited about your new building. What’s the timeline?
Craig Wesley:
We expect to move in around Q2 of 2027.
David Washburn:
Fantastic. My guest today has been Craig Wesley, Executive Director of 20 Fathoms in Traverse City—the front porch of northwest Michigan’s entrepreneurial community. Craig, thanks so much for joining us.
Craig Wesley:
My pleasure, Dave. Great being here.
