FIRSTIGNITE RECEIVES INVESTMENT FROM MICHIGAN RISE
EAST LANSING, Mich. –– FirstIgnite, a software company headquartered in Traverse City, has secured an investment from Michigan Rise Pre-Seed Fund III.
FirstIgnite’s platform uses artificial intelligence (AI) to help universities identify and connect with potential corporate research partners. FirstIgnite users enter a description of their research and are matched to the markets, companies and contacts most interested in partnering. FirstIgnite software is currently used by 40 universities around the world to increase the outcomes from tech transfer, corporate sponsored research and advancement.
“The team at FirstIgnite has done a tremendous job streamlining the way universities and researchers connect with corporate partners,” said Tommy Skinner, Director of Venture Investments at Michigan Rise. “They are already working with some of the country’s best research institutions including Michigan State, Johns Hopkins APL, Northwestern, and the University of Chicago.”
FirstIgnite Co-founders Chase Bonhag and Cody Pawlowski were part of the MSU Research Foundation’s first Conquer Accelerator Grand Rapids cohort in the summer of 2020. In early 2021, their growth continued through participation in Y Combinator and events within the ecosystem, securing follow-on investments from Red Cedar Ventures. Since then, FirstIgnite has built a strong connection with the MSU Technologies tech transfer office, leading to the current investment from Michigan Rise.
“The MSU Research Foundation has been an incredible partner since the beginning,” said Chase Bonhag. “We’re really grateful for their continued support.”
The investment from Michigan Rise will be allocated towards growth in product and sales, expanding new modules for the platform to continue to better serve the research enterprise as well as a focus on selling into Europe and Australia where we have secured our first paid customers. New hires in sales and engineering will support these efforts.
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About Michigan Rise Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan.
About FirstIgnite FirstIgnite, founded in 2019, is an AI software company dedicated to facilitating research institutions in identifying and connecting with companies interested in partnering. Users input a description of their research and FirstIgnite matches users with markets, companies, and contacts suitable for potential partnerships.