September 28, 2022 - 8:01 am

20Fathoms awarded funding to support high-tech startups in Northern Michigan

By 20Fathoms

20Fathoms has been awarded a $50,000 Business Incubator Program Gateway Representative grant from the Michigan Strategic Fund, a partnership between the Michigan Economic Development Corporation (MEDC) and the Office of Governor Gretchen Whitmer.

“By awarding 20Fathoms with this funding, the State of Michigan has recognized not only the expertise and high-quality of startup support that we provide at 20Fathoms, but the considerable growth in the number of technology-based startups in Northern Lower Michigan,” said Eric Roberts, Executive Director of 20Fathoms.

The funding will be used to support technology startups in Northern Lower Michigan including connecting them to valuable resources provided by the MEDC in Lansing and throughout the state. This includes increased access to capital and facilitation of specialty funding programs like the Business Accelerator Fund.  

Founded in 2018, 20Fathoms has seen notable growth and successes in 2022 including:

  • Two new startup incubator graduates: Hybrid Robotics and Starboard Solutions Corp.
  • Near-capacity coworking space membership leading to expanded workspace.
  • New programming to address the region’s shortage in tech talent including an employer-led collaborative and Tech Career Discovery Series events.
  • New business incubation program in development that will expand support offerings for early-stage startups.