Back to Blog August 12, 2025 in

Michigan Venture Capital Association Announces Nominees for 2025 Annual Awards Celebration

Navigate all the resources featured in the Landscape Guide by geographic location, industry sector, and organization type. Landscape Guide
Everything you need to know to make a meaningful first connection can be found in our Landscape Guide! Download the Guide

2024 MVCA Research Report

Our state's entrepreneurial economy hinges on our ability to provide capital to our high-growth, high-potential companies. Download the Report

Upcoming Events

Learn More

August 13, 2025 (Bloomfield Hills, MI) — Michigan Venture Capital Association (MVCA), the trade association for the venture capital and angel community in Michigan, today announced award finalists for the 2025 MVCA Annual Awards Celebration. The event will be held Thursday evening, October 9th at Elevate | One Campus Martius to celebrate the achievements of the Michigan entrepreneurial and investment community. 

Michigan’s entrepreneurial ecosystem is experiencing a moment of incredible momentum — from record-setting exits to landmark investments that are putting our state on the national map,” said Ara Topouzian, Executive Director of MVCA. “These successes don’t happen by accident; they are the result of years of collaboration, risk-taking, and commitment from founders, investors, and community partners. Our Annual Awards Celebration is more than an evening of recognition — it’s a chance to honor the wins that fuel future growth and inspire the next wave of innovation in Michigan.” 

The award ceremony recognizes founders that have fostered a vibrant entrepreneurial community, companies that are producing groundbreaking solutions in their sectors, organizations working to engage with their communities and enrich local economies, significant financing milestones that enable companies to grow and excel in Michigan, businesses that are strengthening the ecosystem by increasing capital available in the state, individuals whose achievements have had pivotal influence on Michigan’s entrepreneurial and investment community, and companies that recently closed substantial transactions. 

MVCA members will vote to select the awardee for several categories and awardees will be announced live at the event on October 9, 2025. Recipients of the Hall of Fame, Capital Event of the Year | Venture Capital Fund, and Mega Deal of the Year will also be honored at this time and MVCA Venture Fellow Alumni will be recognized. 

 

Hall of Fame 

Recognizes individuals whose achievements have had pivotal influence on Michigan’s entrepreneurial and investment ecosystem. The following inductee has paved the way for the next generation of investors in the community through their leadership and expertise. 

  • Jim Adox is the Executive Managing Director of Venture Investors Health Fund in Ann Arbor, bringing more than 25 years of venture capital experience to the medical devices, diagnostics, and digital health sectors. Since joining the firm in 2006, Jim has led and supported investments in transformative healthcare companies, including HistoSonics—where he guided early financings and helped drive a $2.25 billion change-in-control transaction—ViaLase, EarliTec Diagnostics, and Dvant Pharma. A co-founder and former CEO of Tissue Regeneration Systems (acquired by Johnson & Johnson and Medtronic), Jim has also played pivotal roles in successful exits such as NeuMoDx ($310M, Qiagen) and LenSx ($744M, Alcon). With two issued U.S. patents in medical devices and prior operational experience across multiple countries, Jim combines technical expertise, business acumen, and global perspective. Deeply engaged in the Michigan venture ecosystem, he has held leadership roles with the Michigan Venture Capital Association and is currently the Chair of The University of Michigan College of Engineering Leadership Advisory Board and a board member of the University’s Innovation Partnerships National Advisory Board. Jim is a three-time UM alumni.

Capital Event of the Year | Venture Capital Fund 

Recognizes significant financing milestones that enable companies to grow and excel in Michigan. The following awardee is fueling growth and innovation in the state with a recently closed fund. 

  • Michigan Innovation Fund: Signed into law by  Governor Gretchen Whitmer in January 2025, this $60 million fund will provide critical funding to Michigan’s existing early-stage evergreen venture funds, emerging evergreen funds, and the entrepreneur ecosystem. The Michigan Innovation Fund is designed to provide long-term investments in Michigan’s startup companies, grow and diversify the economy, create jobs, and build a strong, competitive, and sustainable financial network to support startup companies across Michigan. This marks the first major program for entrepreneurs, founders and funds in almost two decades. 

Mega Deal of the Year 

Recognizes a company whose landmark transaction represents a transformative milestone for Michigan’s entrepreneurial and investment landscape. The following awardee closed a deal of such scale and significance that its ripple effects will shape the state’s economic future for generations. 

  • HistoSonics: HistoSonics recently announced a landmark $2.25 billion majority stake acquisition led by a syndicate of top-tier private and public investors, including K5 Global, Bezos Expeditions, and Wellington Management. This transformative deal positions the Michigan-founded company to accelerate global expansion of its Edison histotripsy platform — a noninvasive tumor therapy — and marks a defining moment in the state’s medtech and entrepreneurial ecosystem. 

Entrepreneur of the Year Award 

Recognizes founders of Michigan-based, venture-backed companies that have fostered a vibrant entrepreneurial community. The following finalists are innovators who are setting the stage for the next generation of startups and entrepreneurs in Michigan.  

Up-and-Coming Company of the Year 

Recognizes Michigan companies across all stages of growth that are producing groundbreaking solutions in their sectors. The following finalists are making a national impact by transforming legacy industries. 

    • CircNova: Led by CEO and Co-Founder Crystal Brown, CircNova is a pioneering biotech startup based in Detroit that leverages artificial intelligence to revolutionize drug discovery. The company focuses on circular RNA, a newly discovered class of molecules that form closed loops and regulate critical biological processes. CircNova’s proprietary NovaEngine is the first AI system capable of predicting circular RNA structures and designing therapeutic molecules, which are then physically produced and validated in collaboration with the University of Michigan. Under Crystal’s leadership, the company’s technology holds promise for developing treatments for complex and underserved conditions such as ovarian cancer, triple-negative breast cancer, neurodegenerative diseases, and rare genetic disorders.
    • Intero Biosystems: Founded in 2024 by Charlie Childs, Jason Spence, and Madeline Eiken, Intero Biosystems is a Michigan-based biotech startup transforming drug discovery with its breakthrough technology, GastroScreen — a fully functional miniature intestine “in a dish.” This innovative organoid platform enables more accurate testing of drug responses, offering a powerful tool for pharmaceutical development. In 2025, Intero made history as the first University of Michigan team to win the Grand Prize at the Rice Business Plan Competition, earning a record-breaking $900,000. Intero is scaling GastroScreen and expanding strategic partnerships. Interest from major pharmaceutical companies signals strong market demand and positions Intero Biosystems as a rising leader in organoid-based drug development.
    • InvestNext: Fueled by a $15 million Series B funding round in February 2025, Detroit-based InvestNext has undergone a period of rapid transformation, emerging as one of the most exciting and influential players in Michigan’s fintech ecosystem. In just the past year, the company launched a custom accreditation-flow that reduces the first-time investor failure rate by 20% and gives real estate GPs more flexibility over their investor experience. An initial product offering for integrated compliance filings (Form D and Blue Sky) is saving capital raisers hours in legal fees by leveraging the investor data that already exists inside InvestNext. Still to be released this year, a faster and more secure way for GPs to move capital from and to their investors (while potentially saving thousands in transaction fees per capital raise). With strong traction, visionary leadership, and a recent round led by Michigan-based investors, InvestNext is positioned for breakout growth.
    • Kode Health: Kode Health is a health-tech startup based in Holland, Michigan, founded in 2020 by Brad Sawdon and Brian Dessoy. The company is transforming the medical coding industry with its on-demand platform that connects healthcare providers and certified coders in real time. Designed to improve flexibility, accuracy, and efficiency, Kode Health’s solution enables hospitals and clinics to streamline coding workflows and optimize revenue cycle management. In January 2025, Kode Health raised $27 million in a Series B funding round. This investment supports the company’s continued growth and expansion in the healthcare sector, where it competes with major players like R1 RCM and Infinx. With a growing customer base, Kode Health is positioned as a leading innovator in medical coding technology, offering scalable solutions tailored to the evolving needs of healthcare systems. 

Community Impact Award 

Recognizes organizations, individuals, or events that create meaningful and effective connections necessary to build Michigan’s entrepreneurial economy. The following finalists promote collaboration and provide critical resources to grow Michigan’s entrepreneurial and investment community. 

        • Ann Arbor SPARK: Ann Arbor SPARK plays a vital role in advancing Michigan’s entrepreneurial and investment ecosystem. Based in Ann Arbor, SPARK supports startups and growth-stage companies through a wide range of services, including funding access, mentorship, office space, and strategic consulting. It focuses especially on early-stage tech ventures, helping them refine business models, connect with investors, and accelerate growth. SPARK has assisted over 1,300 startups and facilitated more than 600 company growth projects, resulting in $3 billion in investment commitments and tens of thousands of new and retained jobs across Southeast Michigan. Through programs like its Entrepreneur Boot Camp and Entrepreneur-in-Residence initiative, SPARK helps founders navigate customer discovery, product development, and market entry. With deep ties to local universities, government agencies, and venture networks, Ann Arbor SPARK is a driving force behind Michigan’s emergence as a vibrant tech and innovation hub.
        • Bamboo: Founded in 2013 by Amanda Lewan and local entrepreneurs, Bamboo is Michigan’s pioneering coworking community, built on grit, inclusivity, and grassroots growth. Starting with a modest $5,000 loan and a 2,300 square foot loft, Bamboo has expanded into multiple locations across Detroit, Royal Oak, Ann Arbor, and soon Grand Rapids. Bamboo blends social impact with business sustainability, supporting hundreds of startups and small businesses and is much more than a coworking space — it’s a community hub that fosters economic growth through inclusivity and local engagement. Bamboo offers a range of programs designed to support entrepreneurial growth. These include mentorship opportunities, educational workshops, networking events, and wellness initiatives. The organization also partners with accelerators and hosts speaker series to connect members with industry leaders and investors.
        • Centrepolis Accelerator: Based at Lawrence Technological University in Southfield, Centrepolis Accelerator has emerged as a national leader in supporting hardware-based innovation and manufacturing entrepreneurship. Since its founding, Centrepolis has uniquely focused on helping physical product startups, particularly in hardtech, advanced manufacturing, and clean energy, navigate the complex journey from concept to commercialization. At a time when most entrepreneurial resources focus heavily on software, Centrepolis fills a critical gap by offering specialized resources tailored to tangible product development, prototyping, and scaling. Centrepolis Accelerator is not just an incubator or coworking space — it is an economic engine, a manufacturing connector, a deep-tech problem solver, and a champion for equitable access to innovation resources. Its approach is intentional, collaborative, and grounded in the real-world needs of hardware entrepreneurs. Through its work, Centrepolis is rebuilding Michigan’s hardtech legacy for the 21st century, one innovative product and entrepreneur at a time. For its pioneering leadership, commitment to cross-sector collaboration, measurable economic impact, and unwavering support of Michigan’s entrepreneurs, Centrepolis Accelerator is a model community builder.
        • Venture 313: Venture 313 powered by the Gilbert Family Foundation (partnership with ID Ventures, TechTown, and Detroit Development Fund), has invested nearly $10 million over the last 3 years to support Detroit-based founders and companies. Detroit is the heart of Michigan, and Detroit’s tech scene must succeed for Michigan to become the tech hub we aspire to be. Venture 313 is catalyzing the advancement of companies in Detroit by not only investing in them but also providing additional resources to help them thrive. In May 2025, Venture 313 helped bring over 25 investors from across the country to experience what Detroit and Michigan’s ecosystem have to offer, along with founders from across the Midwest — some of whom are now seeking to relocate and build their companies here. Venture 313 aims to continue serving as a catalyst for tech growth in Michigan. 

 Capital Event of the Year | Portfolio Company 

Recognizes significant financing milestones that enable companies to grow and excel in Michigan. The following finalists are Michigan-based portfolio companies that are fueling growth and innovation in the state.  

Exit of the Year 

Recognizes companies that were funded by Michigan investors and achieved a successful acquisition or exit. The following finalists are strengthening the entrepreneurial and investment community by increasing capital available in the state.  

CLICK HERE to purchase tickets. $225 for MVCA members and $300 for non-members.