Great Lakes Ag-Tech Business Incubator Helps Entrepreneurial Farmers
State Representative Joe Haveman recently announced the State of Michigan's $500,000 contribution to the new Great Lakes Ag-Tech Business Incubator, a 501(c)(6) nonprofit. The Incubator offers specialized assistance to start-up companies with an agricultural focus.
The assistance provided by the Incubator encompasses a variety of commercial services, including obtaining patents, developing markets, and procuring financing. Furthermore, entrepreneurs can take advantage of these services without any out-of-pocket fee or expense. Instead, their company must agree to provide the Incubator with a small percentage of their gross annual sales for a period of 10 years.
While the incubator is based in Ottawa County, surrounding counties are being encouraged to join. Representatives from the Incubator have already enlisted Barry County, and they are in the process of approaching Kent and Allegan Counties.