Calling all local entrepreneurs! Being an entrepreneur in Michigan presents a powerful opportunity right now with the state of Michigan investing heavily in support of our thriving economy. For example, the Michigan Economic Development Corporation offers Entrepreneurship and Innovation services, Pure Michigan Business Connect, an International Trade program plus Small Business development programs among others. Michigan also offers the largest selection of angel investors and funding.

According to Forbes Advisor, “Angel investors are individuals who offer promising start-up companies funding in exchange for a piece of the business, usually in the form of equity or royalties.” Angel investment contribution amounts vary depending on the type of start-up and the funding needed. Funding levels can range from $5,000 to as much as $150,000. For companies with a larger capital requirement and the business plan to back it up, some angel investors might group together to form a syndicate where funding may reach up to 1 million dollars.

As you can imagine, with a global pandemic that started in 2020, angel funding was decreased for all Michigan businesses and nationally. For those of you concerned by this, you’ll be happy to know, that 2021 brought an increase, and business is now back to normal. In 2021, There was an increase to $69.1 million in angel investments in the state of Michigan alone. That’s a total of 1,578 angels to contribute to 111 companies, 22 of which were woman-owned and 41 were minority-owned.

The process for a start-up seeking angel investors begins by researching angel funding websites with both generalized and specific industry focuses. For those that interest you, do a deep dive to learn about the angel funders’ requirements and process. Check professional services and products community sites like LinkedIn too to learn more about the leadership of the organizations.

Generally, once you have found your best-suited angel investor(s), the next step is to approach them with your business plan. As an investor, it is their due diligence to look at your proposed financials, the layout of products or services, and the company's anticipated growth over the next 5-10 years. Once an investor agrees, a contract is drawn up with the terms of the investment. Most angel investors usually acquire between 10-25% of the business that they’re investing in. This allows them to receive their investment back and make a profit for backing the business from the beginning. Once all details of the contract have been agreed upon and signed, the funds are released to the business for its initial start-up needs.

There are many advantages to using an angel fund for your business. Angel investors are generally business owners and entrepreneurs too, so they’ve been where you are now. That kind of understanding allows you to have mentor-like support from someone who has been there and done that.

Some key angel funds you may want to learn more about include:, one of Michigan’s top-rated Angel Funds.
Another key funding source is
It doesn’t just stop there, support for Michigan innovation can be found at, and as well where professional angel investors pool together to find the best candidates for their support. is one of many early-stage technology funding resources.
Plus, the University of Michigan MINTS program has committed $50.4 million and invested $49.4 million in Michigan technology companies.