GRAND RAPIDS, Mich. (WOOD) — Start Garden will be investing even more money to help turn ideas into actions.
Organizers announced on Monday that it has raised the maximum investment it can make in a single start-up from $500,000 to $1,500,000.
Start Garden has also opened the application process for start-ups to work in its new, larger location at 40 Pearl Street in downtown Grand Rapids, nicknamed Start Garden Space.
“Start Garden needed to establish a volume of ideas, which we have done, but it’s now important for us to raise the amount of our cumulative investment, so we can play a bigger role in deals happening in Michigan and the Midwest region,” said Rick DeVos, CEO of Start Garden.
Organizers at Start Garden said Michigan has historically been a difficult place to raise a large, early stage investment round. In order to help solve that problem, Start Garden has hired Mike DeVries, a veteran venture capitalist from EDF Ventures out of Ann Arbor. DeVries will work with the existing portfolio and investment team to build out a portfolio of companies into which more than $500,000 is invested.
“In 2012, we set out to make a place where people in the region could take their ideas. With the Start Garden Space, we’re making a place where entrepreneurs take their companies,” added Paul Moore, director of marketing and communications at Start Garden. “It’s modeled as a neighborhood where entrepreneurs that know they’ll need to fundraise can bump into new investors, trusted consultants and, of course, other entrepreneurs.”
Online: Start Garden