2017 West Michigan Entrepreneurial Study

Posted in Surge on August 21, 2017

2017 West Michigan Entrepreneurial Study Key Findings:
  • There are currently 28 active venture-backed startups in West Michigan; this represents 20 percent of the startup companies growing in Michigan.
  • In the last three years, there has been a 20 percent increase in the number of West Michigan startup companies.
  • 50 percent of the startup companies that have received venture capital funding in the region are life science companies, and 29 percent are information technology companies.
  • 36 percent of venture-backed startups in West Michigan are in the seed stage, 28 percent are in the startup/early stage, and 29 percent are in the growth/expansion stage.
  • There are six venture firms headquartered or with an office in the West Michigan; these firms represent 20 percent of the venture capital firms in Michigan.
  • In the last year, 13 startups in West Michigan received more than $58,000,000 from venture capital firms.