The Michigan Outdoor Innovation Fund, a $3 million pre-seed fund capitalized by the MEDC through the Michigan Innovate Capital Fund (MICF) program to support entrepreneurs across Michigan in the outdoor recreation industry, today announced it has invested in five innovative startups that are moving the needle in the outdoor recreation industry.
These investments into Student Athlete Score, Hercules, Electric Outdoors, KUHMUTE and LIVAQ bring the Fund’s total investments to eight, representing 30 percent of its available capital.
The Michigan Outdoor Innovation Fund’s awards range from $50,000 to $250,000, and are made toward promising Michigan-based startups that are commercializing cutting-edge technologies in outdoor recreation.
“These new investments into five extraordinary and groundbreaking startups will enable them to continue to grow and scale by creating jobs, reaching new customers and expanding their product offering,” said Jim Baker, Managing Director of the Michigan Outdoor Innovation Fund. “We are excited to welcome Student Athlete Score, Hercules, Electric Outdoors, KUHMUTE, LIVAQ and the visionary entrepreneurs behind them to the Michigan Outdoor Innovation Fund family.”
Launched in early 2023, the Michigan Outdoor Innovation Fund aims to bolster Michigan’s outdoor industry by investing in early-stage startups that demonstrate strong potential for innovation, and are commercializing cutting-edge technologies that enhance the enjoyment, sustainability or accessibility to the outdoor recreation industry.
As the first seed-stage venture fund in the Upper Peninsula and rural Michigan, it is managed by InvestUP, a private sector-led economic development organization focused on driving economic prosperity across the Upper Peninsula.
“The great outdoors are Michigan’s most important resource, and it is critical that we continue to invest in companies that are advancing efforts to foster a greater appreciation for outdoor recreation and the myriad of industries that it touches, including technology, industry, natural resources and tourism,” said Marty Fittante, CEO of InvestUP. “By investing in these companies, we are investing in the future of the outdoor recreation industry and the lives of the Michiganders that benefit from it.”
With today’s announcement, the Fund has invested nearly $1 million of its $3 million in capital, and expects to be fully deployed by the end of the second quarter in 2025.
Electric Outdoors, Inc., a Michigan-based startup building sustainable off-grid camping solutions, received an investment from the Michigan Outdoor Innovation Fund as part of a $1.3 million seed round valuing the company at $12 million. Powered by sustainable energy sources, its revolutionary EO Canopy product brings off-grid EV camping to remote destinations and beyond.
“We are incredibly excited to be partnering with the Michigan Outdoor Innovation Fund in this first phase of our fundraising,” said Josef Hjelmaker, CEO and founder of Electric Outdoors. “This strategic partnership aligns perfectly with the introduction of our sellable pilot units to the market and will continue to feed our data gathering, research and testing efforts, preparing us for scale.”
Student Athlete Score empowers athletes to navigate their journey and maximize opportunities. They enable universities and brands to discover and connect with emerging talent, while providing coaches with advanced tools for efficient team and roster management.
“Our team is incredibly grateful for the Michigan Outdoor Innovation Fund’s support—not only financially, but also through their invaluable network,” said Student Athlete Score CEO Brent Wall. “They’ve been with us every step of the way, truly believing in Student Athlete Score’s future success.”
Hercules Electric Mobility is transforming the marine industry with cutting-edge electric propulsion systems. Their ultra-compact e-propulsion sterndrive systems seamlessly integrate into many different styles of boats, requiring minimal modifications and making it easier for manufacturers to meet the evolving demands of the market. Hercules’ innovative technology provides a robust solution without the added price typically associated with customization.
”Michigan has an amazing outdoor recreation industry, and the Michigan Outdoor Innovation Fund is putting capital resources to work by supporting unique outdoor related technology businesses and encouraging new entrepreneurs to build their recreation related businesses right here in Michigan,” said Hercules Electric Mobility CEO James Breyer. “The Michigan Outdoor Innovation Fund has been easy to work with and is a truly an invested partner, enabling Hercules to build its marine mobility products in the mobility capital, and largest freshwater marine boating market, of the world.”
KUHMUTE is a safe and secure charging platform for e-mobility, offering charging and locking for personally-owned and private fleet e-scooters and e-bikes. KUHMUTE charging hubs prioritize safety, utilizing advanced technology and powerful features to ensure reliable and efficient charging, and ensure robust security through its proprietary locking mechanism. The hubs also seamlessly connect to 4G cellular networks, enabling advanced in-app monitoring and data functionality.
“The Michigan Outdoor Innovation Fund’s mission is strongly aligned with our outdoor e-mobility charging platform,” said KUHMUTE CEO Sherwin Prior. “The entire Michigan Outdoor Innovation Fund team has been a real value added investor for us.”
LIVAQ, an innovative electric ORV startup, seeks to make a huge cultural shift in the off-roading industry. They create a new level of freedom and adrenaline boost with their electric vehicles in which clean technology and nature merge in perfect harmony.
Future investments from the Michigan Outdoor Innovation Fund will be announced over the coming months. Interested companies and organizations are encouraged to visit michiganoutdoorfund.com or contact the Fund’s Managing Director, Jim Baker, by emailing jim.baker@michiganoutdoorfund.com.
The outdoor recreation economy nationwide enjoyed annual growth of 11.8 percent in 2022. In Michigan, outdoor recreation brought $12.4 billion in value-added economic impact, and the sector includes nearly 120,000 jobs (a growth of 7.4 percent year over year) in a wide range of occupations that require various skills including design, manufacturing, retail sales and hospitality.
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