Two technology startups in Oakland Country are receiving a $125,000 boost from the Macomb Innovation Fund. Funded by Macomb Community College's Strategic Fund and part of J.P. Morgan Chase's $150 million commitment to Detroit's economic recovery, the award is designed to advance progress of larger scale funding for startup companies with high growth potential.
Munetrix, based in Auburn Hills, will receive $100,000, which it must match. The company is a data science and advisory firm that provides analytics, planning, transparency and compliance tools for state and local governments, according to a news release from the college.
Rochester-based Skypersonic was awarded $25,000 in support of its introduction to the market. The company develops drone technology for indoor applications for commercial, industrial, agricultural and civil purposes, the release said.
"Investing in small businesses is essential for creating a vibrant local economy in Detroit," Chauncy Lennon, head of workforce initiatives for Chase, said in the release. The two companies were selected from a pool of 17 applicants. Companies in Genesee, Livingston, Macomb, Monroe, Oakland, Shiawassee, St. Clair, Washtenaw and Wayne counties are eligible to apply.
The innovation fund has awarded about $1.5 million to 30 companies since it started mentoring and providing financial help to young businesses in 2015.