Thursday, March 23Welcome

Traverse City Startup Incubator Receives $50,000 Grant

what’s happening: 20Fathoms, a tech startup incubator and coworking space, has established itself as an essential resource for entrepreneurs in Northern Michigan. And the recent news that he received a $50,000 grant from the Michigan Strategic Fund proves the work they’re doing, said Eric Roberts, executive director of 20 Fathoms. says. People are aware that the Traverse City area has become a hub for tech, and a recently announced grant proves just that, he says.

Who are they: 20Fathoms was founded in Traverse City in 2018 as a technology startup incubator, workspace and technology career hub. The organization has so far graduated 6 technology companies from the Startup Incubator and 10 startups from the 20Fathoms HealthSpark Accelerator. About 250 people participate in technical education programs.

20Fathoms Executive Director Eric Roberts said: (Provided by 20 Fathoms)“We strive to ensure that tomorrow’s talent, the talent that exists in our part of this state, can be inspired and have great careers and survive,” says Roberts. “You don’t have to leave our beautiful, beautiful Traverse City to pursue a career in technology.”

About the grant: The $50,000 Business Incubator Program Gateway Representative grant was approved by the Michigan Strategic Fund, a partnership between the Michigan Economic Development Corporation (MEDC) and the Office of Governor Gretchen Whitmer. The grant requires a one-to-one match from 20Fathoms and will help pay part of the salary of one or two support staff. According to MEDC, “The initial term of the grant is six months for her, and he has the option to extend the term to four years and allocate additional funding.”

Important reasons: “I think if you walk into an old random town in the middle of nowhere in America, it’s pretty hard to find the amount of resources available here,” says Roberts. Traverse City has a whole ecosystem of entrepreneurial empowerment organizations, names like TCNewTech, Northern Michigan Angels and Newton’s Road to name a few.

“This whole experiment in bringing technology to the Traverse City area has been very successful. 20Fathoms didn’t exist four years ago, but today we are making the seams with the people who are members. I am crushing.”

20Fathoms is located at 10850 E. Traverse Traverse City.

Have development news to share? Email MJ Galbraith or send us a tweet. @mikegalbraith.

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