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Our Impact

Building Traverse City’s digital economy.

Growing Northern Michigan’s startup hub and accelerating innovative solutions

Local tech job creation and tech-based entrepreneurship strengthens our economy. Together with our partners, 20Fathoms provides critical resources and removes barriers to help achieve these outcomes.

Since our founding in 2018, 20Fathoms has experienced steady growth and expanded our services to tackle the broader challenges facing our local entrepreneurs and business leaders such as skilled worker shortages and access to capital. We have worked closely with regional partners, as well as state and national experts, to remove barriers and foster economic development.

Some of our accomplishments are included here.

Six graduates of our startup incubator

Six startups have graduated from our startup incubator: ATLAS Space Operations (pictured here), HealthBridge, SampleServe, Birch Infrastructure, Starboard Solutions, and Hybrid Robotics.

The 20Fathoms startup incubator removes barriers and provides valuable resources including access to capital, affordable office space, and educational programming. The rapid growth of these startups led to new jobs and investment in Traverse City.

Meet the 2022 graduates

250 people have received tech education

Software developers and cybersecurity professionals at all stages of their careers gained skills training through tccodes and tccyber.

The program was designed to not only provide high-quality tech education, but to be highly accessible, welcoming, and supportive for all learners. Due to 20Fathoms’ success, we received grant funding for program expansion and related workforce development initiatives.

20Fathoms receives workforce development grant

Local entrepreneurs have strengthened their businesses through 20Fathoms programs

20Fathoms provides programs and resources that help local entrepreneurs strengthen their businesses:

  • A network of business mentors, investors, and professional services providers.
  • Business workshops on topics including sales, startup financing, law, marketing, and human resources.
  • A vibrant community of tech and startup professionals where interactions lead to new opportunities, investments, and solutions.

Hundreds of professionals have utilized the 20Fathoms workspace and community services

Our coworking space provides remote workers, entrepreneurs, and visitors with a professional work environment, fast WiFi, meeting rooms, and community. A 2020 office relocation doubled our space and allowed for record growth as many people sought an alternative to working from home. Options include:

Founders benefit from increased access to capital

20Fathoms is well-connected to a network of investors and other funding sources in our region and beyond, some of whom work out of our coworking space.

  • Boomerang Catapult has infused over $10 million in venture capital investment into the local economy with businesses who have gone on to raise over $120 million.
  • Members of Northern Michigan Angels have invested over $7 million in more than 30 entrepreneurial Michigan companies.
  • 20Fathoms is the only SBDC Business Accelerator Fund administrator in the northern lower peninsula.
  • The CORI Innovation Fund invests in early-stage technology businesses located in rural areas in the U.S.
  • Venture North Funding & Development has deployed more than $8 million to more than 425 Northwest Michigan-based businesses, granted more than $1.1 million to 326 small businesses during the pandemic, and leveraged more than $26 million in local investment funds to support under-resourced start-up and existing small business across our 10-county region.

10 startups graduated from the HealthSpark Accelerator

These digital health and telehealth companies are building bold solutions for some of rural healthcare’s biggest challenges.

Program participants received nearly 200 hours of instruction, mentorship, and networking. The slate of speakers included more than 70 senior healthcare leaders, serial entrepreneurs, and investors who shared their time and expertise. Notably, keynote presentations were provided by leaders from Google, Anthem, Verizon, Cleveland Clinic, Texas A&M, American Telemedicine Association, Munson Healthcare, Boomerang Catapult, and HealthBridge.

Pictured: Bre Loughlin, Founder & CEO of Nurse Disrupted, a HealthSpark Accelerator graduate

HealthSpark Accelerator Graduates First Cohort

Matt Goddard Co-founder & President, Hybrid Robotics

“Early on, we had a spot at the 20Fathoms coworking space and that’s where we started to build the company. It was great meeting investors and meeting other companies. It provided the structure that we needed to move forward to as a manufacturing company.”

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