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Michigan Commits $1 Billion to Life Sciences R&D & Biotechnology Commercialization

August 20, 1999
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With a $50 million appropriation in FY 2000, the State of Michigan has made the first installment toward spending $1 billion over the next 20 years for life sciences research, development, and commercialization. The funding is derived from Michigan's tobacco settlement. Other public and private sources are expected to match much of the state's investment over the two decades.

 

In late July, Governor John Engler signed a bill funding a "life sciences corridor," an effort to make four Michigan research institutions -- the University of Michigan, Michigan State University, Wayne State University, and the Van Andel Institute -- among the nation's most important for biotechnology applications.

The annual allotment will be portioned out to three program areas:

  • 40 percent will support a Basic Research Fund, to be distributed to projects from the four institutions on a competitive basis;
  • 50 percent will go to a Collaborative Research and Development Fund, with emphasis on testing or developing emerging discoveries in partnership with biotech firms; and,
  • 10 percent will go to a Commercialization Development Fund to invest in start-up biotechnology-related companies in Michigan. The Michigan Economic Development Corporation (MEDC) anticipates taking equity positions in supported new businesses.

All three programs will be administered by MEDC with oversight offered by a 14-member steering committee to be appointed by the Governor.

Life Sciences was one of three industries targeted in Smart State: Michigan, released earlier this year (see article in the May 14, 1999 SSTI Weekly Digest). The other two were information technology and advanced manufacturing. More information on all of the new Michigan initiatives can be obtained from MEDC at http://medc.michigan.org/

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Michiganhighlights from 20 Years