Ford Motor Company and JPMorganChase launch Michigan Launchpad

  • Ford Motor Company and four partners launched Michigan LIFT to expand domestic manufacturing.
  • Ford and JPMorganChase each aspire to commit up to $1 billion through the platform.
  • Michigan partners seek 10 to 20 buyers representing over $1 billion annual demand by 2036.

Ford Motor Company ($F), JPMorganChase, the State of Michigan, Michigan Central and Newlab launched the Michigan Launchpad for Industrial Innovation & Transformation, known as Michigan LIFT, to connect manufacturers with innovative suppliers and capital for expanding domestic production. Ford is the platform’s anchor industrial buyer, translating manufacturing and supply-chain challenges into open calls for suppliers. Ford aspires to award up to $1 billion in contracts to participating suppliers over the next decade, while JPMorganChase aspires to provide up to $1 billion in debt financing. Michigan Central, Newlab and the Michigan Economic Development Corporation aspire to attract 10 to 20 additional industrial buyers representing more than $1 billion in annual demand by 2036. The platform will initially cover robotics and advanced manufacturing automation; advanced energy, including nuclear, semiconductors and battery storage; advanced mobility, aerospace, propulsion and critical components; critical minerals mining, processing and recovery; and life sciences manufacturing. Michigan Central will provide testing and scaling infrastructure across its 30-acre Detroit innovation district, while Newlab aspires to provide $20 million in in-kind commercialization support for high-growth companies. The launch also included $550,000 in combined support from Ford Philanthropy and JPMorganChase for Focus: HOPE’s industrial manufacturing training in manufacturing skills, robotics and welding. Michigan LIFT grew out of the Michigan Resiliency Summit hosted by JPMorganChase and the State of Michigan in Detroit in June, and applications are open at michiganlift.org to suppliers and industrial buyers, including buyers outside Michigan.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.