Michigan Technological University


Houghton, MI

Project Name

Formation of the MTU Foundry Fund

Award Amount

Federal Share: $400,000
Local Match: $400,000

This EDA investment will support the Michigan Technological University (MTU) Foundry Fund, which will make investments in startups throughout the Upper Midwest with high impact in under-represented companies focused within advanced materials and manufacturing. The fund will advise and build relationships with companies, corporate partners, and funds across the Upper Midwest. The powerful collaboration between university research, industry partners, proven executors, and sophisticated early-stage investors will advance creation and growth of the next generation of category-defining advanced materials and manufacturing companies.

The Upper Midwest has a rich history of innovation in materials and manufacturing, with established supply chains, physical infrastructure, and access to operational talent. The MTU Foundry Fund will also capitalize on research discoveries made at MTU and other leading universities. Ultimately, the MTU Foundry Fund will produce extraordinary returns by creating and sustaining advanced materials and manufacturing companies that combine cutting-edge science and technology with exceptional management and execution.