Traverse City, MI

Project Name

20Fathoms Scaling Northern Michigan’s Technology Commercialization Hub

Award Amount

Federal Share: $2 million
Local Match: $2 million

This EDA investment supports 20Fathoms’ efforts to build a faster, more broad-based, and diverse technology commercialization. The project seeks to increase the pipeline of commercializable startup ideas; scale and coordinate a broader array of technology startup support services; and, identify, engage, and connect the region's presently untapped pool of capital and talent. The project leverages the region’s unique assets and establishes new partnerships that advance development and commercialization of autonomous marine technology, medical technology, and advanced hardware and software systems. 20Fathoms will increase the breadth and diversity of startup ideation, targeting investment toward university partnerships and delivering resources to support the success of the region’s underserved Native American and women entrepreneurs, among others.

The project aims to launch 21 new technology ventures and benefit 300 total companies through dedicated support directed toward their commercial success, including enhanced mentorship, networking opportunities, talent acquisition, and capital resources. The project seeks to help diversify the region’s tourism-based economy, providing resilient, high-paying jobs and benefits shared equitably across the community.