EAST LANSING, Mich., May 10, 2017 /PRNewswire-USNewswire/ -- The Renaissance Venture Capital Fund (Renaissance) and the Michigan State University Foundation announce today that Renaissance is opening its third office location. This newest space, located in the East Lansing Technology Innovation Center (TIC), marks the venture fund's widening footprint across Michigan, including offices in Ann Arbor, Detroit, and now East Lansing.
"Renaissance coming to the TIC means greater access to capital resources for area entrepreneurs," said Jeff Smith, director of the University Corporate Research Park, the place-making arm of the MSU Foundation. "This activity strengthens mid-Michigan's entrepreneurial ecosystem and tells the larger story about Michigan's economic health and growth."
The MSU Foundation's ongoing economic development initiatives focus on taking Michigan State University's faculty and researcher technologies to market, investing in MSU student entrepreneurs, and working with area partners to build and grow the region's robust, thriving culture of innovation.
"Our mission at Renaissance is to serve as a bridge between researchers, entrepreneurs, venture capitalists, and major corporations in Michigan," said Chris Rizik, chief executive officer of Renaissance Venture Capital Fund. "We are impressed with the growth of innovation efforts at Michigan State University and are excited to extend our presence and network in the region."
The TIC, managed and operated by the MSU Foundation, offers its tech-based members office space, programmatic support, and resources aimed at helping startups and early-stage companies flourish. The TIC is adjacent to the MSU Innovation Center.
About the Renaissance Venture Capital Fund
The Renaissance Venture Capital Fund is a fund of funds that supports the growth of venture capital in Michigan while serving as a bridge between Michigan's emerging innovation company community and its strong industrial and commercial base. Formed by Business Leaders for Michigan, the Renaissance Venture Capital Fund boasts as its members many of Michigan's most important organizations. It has become a national model for strategic, financially successful regional investing. Through its investment in top tier venture firms that are active in Michigan, as well as its own co-investments in emerging Michigan companies, the Renaissance Venture Capital Fund is helping to drive forward both innovation and growth of emerging companies in the region. And it is again proving that Michigan, with its unique combination of scientific, engineering and business talent, is a great place in which to invest. For more information, please visit: www.renvcf.com.
About the Michigan State University Foundation
Established in 1973 as an independent, non-profit corporation, the Michigan State University Foundation fuels economic development initiatives through the commercialization of cutting-edge technologies invented by Michigan State University faculty, staff, and students. At its core is an extensive program, focusing on the support of research, invention, and entrepreneurship. The Michigan State University Foundation operates Michigan Biotechnology Institute, Red Cedar Ventures, Spartan Innovations, and the University Corporate Research Park. Further, the Foundation manages and operates the East Lansing Technology Innovation Center. More information on the Foundation's notable achievements, provided services, key leadership, and history are available at www.msufoundation.org.
About the East Lansing Technology Innovation Center
Founded in 2008, right in the heart of downtown East Lansing, the East Lansing Technology Innovation Center, also known as the TIC, became the first business incubator in the region. Today, the space continues to be home to technology startup companies, offering them support and space to grow their ideas. Members have direct access to resources within the MSU Innovation Center, as well as Michigan State University's campus. Connecting members with a vast network of area professionals, community resources, and venture capitalists, the TIC offers the space for tech entrepreneurs to explore their ideas, take creative risks, and grow their networks. For more about the East Lansing Technology Innovation Center, please visit: www.eastlansingtic.org.
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SOURCE Michigan State University Foundation