needs edit into something coherent

The Michigan Pre-Seed Capital Fund -- a vehicle through which the Michigan Economic Development Corp. invests capital in startup tech companies -- will receive a funding influx of $6.8 million, state officials said Wednesday afternoon. The Michigan Business Review reported that MEDC's Strategic Economic Investment and Commercialization Board approved an investment in the fund, which is managed by economic development group Ann Arbor Spark. The funding represents a turnaround in state policy. More from the Michigan Business Review. Edward Vielmetti 03:55, 27 March 2009 (UTC)

http://www.mlive.com/business/ann-arbor/index.ssf/2009/03/medc_delivers_68_million_for_a.html

The funding marks a switch in strategy for MEDC, which declared in March 2008 that economic development groups would not be eligible to receive money from the 21st Century Jobs Fund. That decision effectively rendered the Pre-Seed Capital Fund dormant until it could secure additional funding. Edward Vielmetti 03:55, 27 March 2009 (UTC)