The Rise of State-Backed VC: Michigan’s Bet on Emerging Entrepreneurs
Pete Martin, MSU Research Foundation & Alison Todak, MEDC
Love the episode? Leave a review on your favorite podcast platform!
⭐⭐⭐⭐⭐
With states stepping directly into the venture capital arena, a major shift is underway in how early-stage companies are funded—and where the next generation of innovation will be built.
In this episode of The TechEd Podcast, host Matt Kirchner dives into this emerging movement with Pete Martin, Director of Portfolio Management at the MSU Research Foundation, and Alison Todak, Vice President of Entrepreneurship & Innovation at the Michigan Economic Development Corporation. Together, they unpack why states like Michigan are deploying public capital into startups, how PitchMI became one of the largest pitch competitions in the country, and what this means for founders, investors, educators, and the broader innovation economy.
From filling early-stage capital gaps to catalyzing private investment, Michigan is using public VC models to strengthen its entrepreneurial ecosystem—and the results are showing. Pete and Alison detail the strategy behind PitchMI, the sectors driving the next decade of growth, the role of universities in spinning out new technologies, and how public and private capital partners are increasingly collaborating rather than competing.
Listen to learn:
- Why states are stepping into early-stage VC and where private capital is falling short
- How PitchMI became a $2M competition drawing 375 statewide applicants
- The sectors Michigan is betting on—from mobility to clean tech to AI and health innovation
- Why founding teams matter more than anything else at the pre-seed stage
- How public VC and private VC now work together to accelerate growth rather than compete
Watch the Full Episode on YouTube
Resources in this Episode:
- Learn more about PitchMI: https://msufoundation.org/pitchmi/
You might also like...
What our listeners are saying
The #1 podcast in TechEd
This podcast is a great resource to keep up with all the exciting changes in the world of manufacturing and technology. Get key insight from industry leaders from the Midwest and around the globe that you won’t find anywhere else. A must listen for anyone interested in how technology is changing the way businesses operate.
The pulse of Industry 4.0
This podcast has its fingers on the pulse of Industry 4.0, and Matt K. is a phenomenal guide, traversing the complexities of manufacturing and education in one forum. A+ work all around!
Compelling
I find Matt's approach to be very compelling. He brings both perspectives, industry AND education. He doesn't hold back on what he thinks is important...
New and Exciting Content With Every Episode
I really enjoy listening to this podcast when I'm driving or have a free moment. Each episode brings a new guest with a fresh and exciting perspective of both education and the workforce!
I needed this podcast back when I was in High School!
Such great content that deserves more attention at all level of education. I wish I heard some of these episodes when I was navigating my own career path. Incredible guests, with incredible messages to share. Keep up the great work!
Inspiring topics featuring inspiring leaders
I’ve listened to most of your weekly podcasts and enjoy listening to the stories and conversations that feature business and education leaders from Wisconsin. Kudos to you for creating a platform that presents ideas and success stories that are important to Career and Technical Education teachers and leaders.
Best Career and TechEd Podcast
There are a lot of education podcasts out there. This is the only one that really focuses on bringing together voices from inside AND outside education and focuses specifically on STEM and Career/Tech Ed. This is a great podcast for anyone in education and also for anyone who employs STEM or skilled-trades talent in their workforce.
Filling in Gaps
This show spotlights a large and growing aspect of education that doesn’t get enough attention. Practical and technical education is a field growing exponentially. This podcast Highlights many of the facets of this diverse field.
Fantastic Topics on the Future of Industry
These podcasts are the best for learning about current and future technology. The stories are great. We need more of these interviews.