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Michigan

State · United States · Pop. 10.1M · #37 region by EV

A public taster of the full Michigan ecosystem on Dealroom — request a demo for live deal flow, founder pedigrees, AI-talent maps, and the full cap table for every company below.

834 Pool of Funded Startups

New Startups

258 Annual Startups FoundedAll new ventures

76 Annual Startups FundedReceived investment

get funded 29%

664Startups

274 Pre-Seed Startups$100K–1M

227 Seed Startups$1–4M

163 Series A Startups$4–15M

Seed to Series A 33%

139Breakouts

95 Series B Breakouts$15–40M

A to Series B 30%

44 Series C Breakouts$40–100M

B to Series C 40%

31Scaleups

21 Mega Scaleups$100–250M

reach Mega 2.5%

10 Mega+ Scaleups$250M+

reach Mega+ 1.2%

11Valuation Outcomes

9 Unicorns($1–10B valuation)

reach Unicorn 1.1%

2 Decacorns($10–100B valuation)

reach Decacorn 0.24%

Pre-Seed

274

Seed

227

Series A

163

Series B

Series C

Unicorn

Decacorn

* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.

Largest rounds

Largest funding rounds in Michigan

A live treemap of the largest VC rounds. Each cell is one round into Michigan-headquartered companies, grouped by Dealroom sector.

Largest rounds in Michigan - 2026

Every $40M+ VC round into Michigan-headquartered companies in 2026, grouped by Dealroom sector.

- rounds · - raised

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VC investment

How much venture capital flows into Michigan

VC investment into Michigan-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.

Academia

Michigan's academic flywheel

Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Michigan.

University-linked startup formation

117

University spinouts

2,141

Total alumni-founded companies

1,234

Of which startups (<$15M raised)

646

Breakouts ($15M-100M)

261

Scaleups ($100M+)

Location comparison

How Michigan stacks up

Compare Michigan with peers from the same country (United States) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.

$272B

$254B

$242B

$202B

$177B

$159B

$144B

$138B

Michigan

$94.6B

Combined enterprise value of each ecosystem.

Top regions in United States ranked by combined EV. Michigan's row is highlighted (#12).

#	Ecosystem	Combined EV	EV growth	Unicorns	VC invested	Tracked startups
1	California	$21.5T	7.7×	1,101	$177B	36.6K
2	Western United States (Pacific, excl. Bay Area)	$4.6T	4.8×	317	$28.2B	16.4K
3	Northeastern United States	$3.4T	4.6×	652	$54.3B	30.9K
4	Washington (State)	$3T	4.5×	72	$7.3B	3,242
5	Texas	$2.7T	10.5×	128	$11.2B	6,610
6	New York State	$1.4T	5.0×	298	$30.9B	15.5K
7	Southeastern United States	$1.4T	4.8×	172	$11.5B	14.1K
8	Massachusetts	$1.2T	4.4×	210	$13.2B	6,078
9	Florida	$781B	9.6×	61	$3.7B	4,750
10	Midwestern United States	$666B	3.6×	114	$9.4B	10.7K
11	Western United States (Mountain)	$367B	4.1×	98	$9.8B	5,447
22	Michigan	$94.6B	6.4×	11	$2.8B	1,221

More data

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Country United States Country · North America · Pop. 340.1M · #1 country by EV Region North America Continent / region · Pop. 60M · #2 region by EV

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