The Michigan Outdoor Innovation Fund, an investment fund managed by InvestUP, has announced its first round of investments – to three promising state-based companies that operate in the outdoor innovation space.
The companies are
Grounded RVs,
Mullybox, and
Revolin Sports. The companies were chosen for their innovative approaches to enhancing outdoor experiences and for their potential to drive significant economic growth within the state of Michigan.
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The Michigan Outdoor Innovation Fund is a $3 million investment fund that was launched in early 2023. The fund aligns with Michigan’s focus on the outdoor recreation sector and the Michigan Economic Development Corporation's (MEDC) strategies to grow and support the state’s entrepreneurial ecosystem.
“We are thrilled to support Grounded, Mullybox and Revolin, as they represent the ingenuity and entrepreneurial spirit that Michigan is known for,” said Jim Tenzillo, Fund’s co-managing director. “These companies are uniquely impacting the outdoor sector and contributing to the state’s economic development and job creation.”
The outdoor recreation economy is flourishing in Michigan and across the country, with annual growth of 11.8 percent in 2022. In Michigan, outdoor recreation has had a $12.4 billion economic impact and employs nearly 120,000 people. Michigan’s Office of Outdoor Recreation, also part of the MEDC, is working to bolster the state’s focus on retaining and attracting outdoor recreation businesses and products.
What’s happening: The Michigan Outdoor Innovation Fund has announced its first round of investments to three promising Michigan-based companies:
Grounded RVs,
Mullybox, and
Revolin Sports. Each company received funding to create jobs, scale their operations, develop new products, and expand their market presence. By supporting these startups, the Fund reaffirms its commitment to nurturing a robust, innovative outdoor industry ecosystem in Michigan.
About the companies:
Based in Detroit,
Grounded designs and manufactures electric, smart, customizable vans for adventure and work expeditions. Its flagship product, the G2, is a customizable camper van with 270 miles of electric range, all-wheel drive, Starlink internet, 1000 Watts of solar power and the Grounded+ smart mobile app which allows users to control appliances, view data, and receive diagnostics remotely.
Mullybox is transforming the way golfers experience the sport with a unique subscription service that delivers curated golf gear and accessories to enthusiasts nationwide. The company is based in St. Clair Shores.
Revolin Sports is a designer and manufacturer of sustainable paddle sports equipment and based in Holland, Michigan.
“Grounded RVs, Mullybox, and Revolin Sports are three companies showing what it truly means to innovate in outdoor recreation and ‘Make It’ in Michigan,” said Nataliya Stasiw, equity capital program director for the MEDC. “These companies will provide our people with more enriching outdoor experiences and have a positive impact on the places people want to live, work, and visit, and we’re proud to join our local partners in supporting them. We look forward to continuing to work together to position Michigan as the leader in the outdoor industry ecosystem.”
What is the Michigan Outdoor Innovation Fund: The fund aims to bolster Michigan’s outdoor industry by investing in early-stage startups that demonstrate strong potential for innovation and sustainability. Investments range from $50,000 to $250,000 in Michigan-based companies commercializing cutting-edge technologies that enhance the enjoyment, sustainability or accessibility to the outdoor recreation industry. Requests from companies for investment from the fund are processed on a rolling basis.
What is a seed fund: The fund is a first of its kind in the Upper Peninsula. It is also the only seed fund in a rural location in Michigan and just the second fund managed by economic development organizations in the state. Seed funds often have their own board to help manage the funds and diversify opportunities, and this fund is no different. The board includes multiple regional partners including Michigan Technological University and Innovate Marquette Smart Zone.
About InvestUP: InvestUP is the regional economic development organization for the Upper Peninsula. Led by the private-sector, InvestUP’s mission is to drive prosperity across the U.P. through a focus on people, place, projects, policy, and promotion by working in partnership and with passion and persistence.
“It is very exciting to see the fund’s growth from concept through launch and now with the first round of investments,” said Marty Fittante, CEO of InvestUP. “We are incredibly appreciative of the opportunity to manage the fund and to be part of the entrepreneurial development in this impactful sector for both our region and the state of Michigan overall.”
For information about the Michigan Outdoor Innovation Fund and its investment initiatives, visit the
Michigan Outdoor Innovation Fund.
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