A Traverse City startup incubator and resource center is expanding to offer services to Petoskey, Manistee, Cadillac, and all of northwest lower Michigan.
Since 2018, the nonprofit 20Fathoms has helped more than 200 Michigan entrepreneurs achieve their dreams of launching startup businesses in the northwest corners of the mitten.
Its services are offered at no cost, thanks to grant support.
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20FathomsDelaney Keating“It’s an important time for Northwest Michigan, and providing extra support for entrepreneurs is essential,” says Delaney Keating, director of Entrepreneurship and Commercialization at 20Fathoms. “Alongside our collaborative partners throughout the area, we are able to not only provide additional resources today but are designing even more to roll out in 2025.”
What's happening: Initiatives include startup incubation services, a coworking space, and a tech career hub. By providing industry expertise, business support, educational programming, and a vibrant community and workspace, 20Fathoms removes barriers and provides the resources to help businesses and careers grow, says Keri Amlotte, head of Outreach & Strategic Programming at 20Fathoms.
Deadlines are coming up fast for two of the new programs.
Small business grants: Application deadline is Oct. 6. 20Fathoms and Venture North have teamed up to provide $45,000 in grants to startups in Northwest Michigan. Designed for innovative and scalable startups, these grants are highly competitive and will be awarded to 8-12 small businesses for an average of $4,500 each. Additional rounds of small business grants will be awarded in 2025.
Opportunities for women entrepreneurs: Oct. 11 is the deadline for
pitching opportunities to be included in the Nov. 19 TCNewTech pitch competition, hosted by 20Fathoms, exclusively featuring female-founded companies. Those selected will compete for cash awards and startup support before a panel of judges and a supportive live audience.
A pitch competition is similar to the popular television show “Shark Tank,” "but we call it the much friendlier version,” Amlotte says.
Four or five entrepreneurs take the stage in front of a live audience and a panel of judges, with five minutes to pitch their startup — to tell the audience about their startup and why it's important, what needs it fulfills. Judges then have five minutes for questions. The judges award first place and second place cash awards, and there’s an audience choice award, as well.
Amlotte says the benefit of the pitch competition is not only the cash prizes, but the awareness and the connections that the startups can make. “It's a great opportunity to showcase their business and make some valuable connections with investors, mentors, and others who could help,” she says.
Ongoing programming: In addition to upcoming fall events, continuing programming includes:
Startup bootcamps: These multi-day programs help entrepreneurs take great strides to turn their ideas into a business. Surrounded by both supportive peers and startup experts, participants learn practical skills to achieve their goals, including goal setting, financial planning, and marketing.
20Fathoms is hosting two bootcamps in the next month – one specifically for Native American entrepreneurs, and the other is open to all aspiring entrepreneurs and early-stage founders in the region. The Native American bootcamps are infused with culture and community and peer connection. For instance, those bootcamps may have opening and closing feasts with Indigenous foods, or smudging ceremonies, Amlotte says.
Workshops: These monthly one- to two-hour events are interactive sessions where participants learn tips on a specific topic that they can put into action immediately.
Startup coaching: Entrepreneurs can meet with a 20Fathoms startup coach who will help them identify their priorities, next steps, and get unstuck. Meetings can be held in person or virtually and allow entrepreneurs an opportunity to talk through their challenges and get advice on how to achieve their next milestone.
1:1 consultation: For those who are not sure where to begin or what resources they need, 20Fathoms offers 1:1 consultation with our Client Engagement Manager. During these calls, entrepreneurs can share a little background about themselves and their business and then receive suggestions for resources that meet their unique needs.
What they're saying: Vernon LaLone grew up in Elk Rapids but started his science career far away from Northern Michigan, including a period in London. Today, LaLone is back in the area where he is running his own startup company, Wave Lumina, which provides rapid testing technology to detect PFAS contamination.
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20FathomsVernon LaLone, founder and managing director of Wave Lumina, pitches at a recent TCNewTech pitch event, hosted by 20Fathoms.
“It’s a dream come true for me – I never imagined I could do this up here in Traverse City,” LaLone says. “Without the support of 20Fathoms, I probably would not have started Wave Lumina in Traverse City. The technology aspect of 20Fathoms and the networking opportunities create an amazing complimentary startup ecosystem to other local startup support organizations.”
Where is the money coming from: The expanded fall programs at 20Fathoms have been made possible in part with support from Honor Bank. This project is being supported, in whole or in part, by a federal award from the U.S. Department of the Treasury.
Rosemary Parker has worked as a writer and editor for more than 40 years. She is a regular contributor to Rural Innovation Exchange and other Issue Media Group publications.