GRAND RAPIDS, Mich. (AP) — West Michigan entrepreneur Rick DeVos' Start Garden venture capital effort has invested more than $2.3 million in over 100 projects during its first year.
Start Garden began last spring, investing $5,000 in two potential business ideas each week. The fund is backed by $15 million from DeVos' family, and ideas that take root get additional funding.
DeVos on Thursday is offering an update in Grand Rapids about Start Garden, which plans to invest most of rest of the fund's remaining money during the next two years. DeVos says he's encouraged to see "hustle" and "hunger" among entrepreneurs.
The aim of Start Garden is make it easier for an idea to become a startup business, and to help make Michigan a better place to develop such ideas.