MEDC: MGCS a Valuable Link in Michigan’s Entrepreneurial Ecosystem

Shannon Beeman
May 9, 2012

SouthIn the past decade alone, more than 300 companies have presented at the Michigan Growth Capital Symposium (MGCS). About 70% of these have raised capital totaling more than $1.7 billion in investments, and nearly 20% have realized successful exits. “The results from the MGCS speak for themselves,” said Michigan Economic Development Corporation (MEDC) Vice President of Business Acceleration Michael Psarouthakis. “We have great companies in the state that have an incredibly high success rate if they make the cut to present at MCGS, and the Symposium provides the best exposure for many Michigan companies to get in front of VCs.”

The MEDC works closely with entrepreneurial service organizations across the state to support the development of emerging companies. Psarouthakis notes that Michigan’s entrepreneurial infrastructure and environment is rapidly improving, making the state an excellent place to start or grow a company. Private sector capital resources are increasing, and the cost of doing business in Michigan is relatively low in comparison to much of the country. The state’s universities and talent are attracting national attention, and organizations such as Southwest Michigan First, The Right Place, Lakeshore Advantage, Ann Arbor SPARK, NextEnergy, and Tech Town are supporting startups statewide.

Psarouthakis said the MGCS has given Michigan companies vital exposure in the VC community. “MEDC is a proud and longstanding sponsor, and I expect will continue to be a sponsor so in the future,” he said. “Dr. David Brophy’s efforts over these many years have been an invaluable service to the State of Michigan.”