In September 2020, WMSRDC and the Grand Valley State University Muskegon Innovation Hub (Hub) received a grant from the U.S. Department of Commerce, Economic Development Administration (EDA) to study the entrepreneurial ecosystem in the West Michigan lakeshore area including the counties of Kent, Lake, Mason, Muskegon, Newaygo, Oceana, and Ottawa. The Entrepreneurial Market Analysis will be conducted during the first quarter of 2021 and released in the spring.
In particular, the study will profile the entrepreneurial market dynamics of the lakeshore region, propose strategies to enhance entrepreneurial support and business acceleration services, and identify existing and potential sectors to target those services. The study will position the Hub to continue and improve upon its presence as a valuable resource for small business, thereby enhancing economic resiliency, supporting innovation, and fostering economic diversification of the lakeshore region.
Innovation and entrepreneurialship typically increase in the wake of an economic disruption. Although the full impacts and ripple effects of the COVID-19 pandemic have yet to be fully realized, the Entrepreneurial Market Analysis will provide valuable insight into the evolving needs of entrepreneurs and small businesses, as well as opportunities for new economic growth.
WMSRDC is in the process of requesting proposals for the Entrepreneurial Market Analysis. View the RFP here.