Investment Opportunity Provides Resources, Support, and Funding for Entrepreneurs
LANSING, MI – Lansing PROTO, Michigan’s first and only physical product business accelerator program, is seeking applicants for the 2017 program. Lansing PROTO, is a Lansing Economic Area Partnership (LEAP) initiative and subsidiary that supports physical product-based companies as they move from concept to market.
The Lansing PROTO program will provide up to three startup companies with up to $15,000 each in exchange for 5% equity in the company. Beginning in May 2017, each company selected will also participate in an structured intensive six-month program that provides access to critical business development resources including product development and design consulting, rapid prototyping, business plan development, marketing and branding, legal support, accounting support, continued mentoring and guidance, and access to capital. Upon completion of the program, the participating companies will either be prepared to go to market with a product, will already be in the market, or will be positioned in the market to be licensed by an existing company.
“True to our roots in manufacturing, the Lansing PROTO program harnesses regional manufacturing innovation, and provides a supportive environment for startups looking to bring their products to market,” said Tony Willis, Director of the New Economy Division at LEAP and Lansing PROTO administrator.
In 2016, Lansing PROTO funded Modern Fitness and Cutting the Cable. Modern Fitness creates dissolvable protein pods to increase the convenience of making post workout nutrition shakes, and Cutting the Cable is a wireless sensor technology for use in scoring fencing matches. Also in 2016, Lansing PROTO was the only accelerator in Michigan to receive funding from the U.S. Small Business Administration’s Growth Accelerator Fund Competition.
“Lansing PROTO is the first and only physical product startup acceleration program in the state of Michigan. While there are many great accelerator programs throughout the state, LEAP is proud to position the Lansing region as a state-wide leader in supporting the rapidly growing maker economy,” said Bob Trezise, President and CEO of LEAP.
Companies and entrepreneurs can submit applications to Lansing PROTO until March 31, 2017.
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