Traverse City’s 20 Fathoms Awarded $750K By US Dept. of Commerce

Traverse City startup incubator hub 20 Fathoms is the only Michigan organization awarded a big-time federal grant to help grow even more companies.

The U.S. Department of Commerce awarded 20 Fathoms $750,000 Tuesday through the regional innovation strategies, an I-6 challenge.

Along with local donations of $750,000, they will have a million and a half dollars to help recruit top talent, get access to more startup capital and expand mentorship programs.

20 Fathoms serves 20 startups that have created more than 100 well-paying jobs in the last year.