Renaissance Venture Capital Fund Expands to East Lansing Technology Innovation Center
Greater Lansing Area’s growing entrepreneurial ecosystem attracts venture capital firm The Renaissance Venture Capital Fund (Renaissance) and the Michigan State University (MSU) Foundation recently announced 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.
Seemingly, the addition of Renaissance is an obvious choice, as their goals are similarly aligned. TIC is a community hub that enables innovators and entrepreneurs to craft their visions into practical, market driven opportunities. Founded in 2008, TIC serves as the regions first incubator. The TIC, managed and operated by the MSU Foundation, offers much more than just services. In addition to lending a helping hand with research based projects, the group also provides a 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.
“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 is driven to creating an environment that is beneficial for creating advancements in technology. Through ongoing economic development initiatives, the MSU Foundation focuses 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.”
This is an exciting time for TIC and Renaissance, as they venture forward to create stronger opportunities for local innovators by providing them with an increased potential to launch new products. From an overarching perspective, Michigan State University has become a hub for innovation in technology, particularly with medical and mechanical engineered focused ventures. The school’s ability to attract the attention of venture capitalists and other forms of monetary investments is impressive, and there’s little evidence to suggest these endorsements won’t keep sprouting up.
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