Lansing, Michigan-based PROTO InsurTech, a business accelerator and equity investment fund led by Lansing Economic Area Partnership (LEAP), said three new international high-tech startups have begun operating in LEAP’s REO Town office.
The startups aim to transform the Michigan insurance industry through technology innovation. The three companies are Supportomate from Israel, LVLFi from Great Britain and Kudos Health from Ireland.
The initiative is a statewide partnership between LEAP, the Michigan Economic Development Corporation (MEDC) and initial founders Delta Dental and Farm Bureau. It allows cohort members the chance to participate in an intensive four-month program that provides access to critical business development resources for Michigan’s insurance industry.
The PROTO InsurTech program will provide this first cohort of companies with up to $60,000 each in exchange for a small equity stake in the company. During the program the cohort will be living, working, creating, eating and drinking in the Lansing region, with the optimum end result being the creation of a subsidiary, licensing possibilities, acquisition or other activities that enhance the competitiveness of our investor insurance companies, and to permanently bring new high-tech companies to Michigan.
Source: LEAP
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