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who are they – 20Fathoms was founded in 2018 as a tech startup incubator, co-working space and technology hub in Trevor City. The organization has so far graduated six technology companies from its startup incubator and 10 startups from the 20Fathoms HealthSpark Accelerator. About 250 individuals are engaged in the technology education program.
Eric Roberts, CEO of 20Fathoms. (Courtesy of 20Fathoms)“Tomorrow’s talent, the talent that we have here in our state, we’re trying to get inspired and have amazing careers and keep them,” Roberts says. “You don’t have to leave our beautiful Traverse City to pursue a career in technology.”
About the gift: A $50,000 Business Incubator Program Gateway Representative grant was approved through a partnership between the Michigan Strategic Fund, the Michigan Economic Development Corporation (MEDC) and the Office of Governor Gretchen Whitmer. The grant requires a 1:1 match from 20Fathoms, and will help pay a portion of the salary for one or two support staff. According to Medici, “The initial period of the support is six months, with the option to extend the period for another four years and allocate additional financial support.”
Why is it important? “If you go down to rural America in any old random town, I think it’s very difficult to find the amount of resources that are available here,” Roberts says. Traverse City has a whole ecosystem of startup support organizations, he says, looking at TCNewTech, Angels of Northern Michigan and Newton Way to name a few.
“This whole effort to bring technology to the Traverse City area has been very successful. 20Fathoms didn’t exist four years ago, and today we’re joining forces with the people who are members.”
20Fathoms is located at 10850 E. Traverse Hwy. in Traverse City.
Got development news to share? Email or tweet MJ Galbraith here @mikegalbraith.
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