First Step Fund

The First Step Fund is an early stage investment fund in partnership with the Invest Detroit Foundation, TechTown, Bizdom, Ann Arbor SPARK and Automation Alley serving emerging and newly-formed high growth, businesses in Southeast Michigan.

The First Step Fund provides emerging companies with access to capital, focused mentoring in areas consistent with growing the business, and a network that will work to foster demand and create opportunities for new business and additional investment. First Step Fund support is meant to address the deficit of financing in the marketplace and to promote economic development by identifying, nurturing and fostering demand for early stage, commercially viable, high growth businesses resulting in job creation and increased tax revenue for the region.

The First Step Program will give preference to businesses owned by women and minorities and businesses with the highest potential to employ women and minorities. First Step Fund applications must be submitted through the website application portal.

Target Area

Southeastern Michigan

Investment Size

$10,000–$50,000

Financing Types

  • Flexible instruments including loans, convertible notes and equity investments

Investment Terms

  • Each opportunity will have specific terms

Financing Needs