Ford Motor Company, JPMorganChase, the State of Michigan, Michigan Central and Newlab announced the Michigan Launchpad for Industrial Innovation & Transformation (Michigan LIFT), a platform designed to help innovative suppliers scale manufacturing operations and win contracts from major industrial buyers.
The initiative grew out of a June summit where industrial, financial and government leaders identified barriers preventing promising companies from reaching production scale, including uncertain customer demand, delayed financing, workforce shortages and scattered support services.
Over the next decade, the founding participants have committed to using the platform to connect customer demand and capital. Ford aspires to award up to $1 billion in contracts to participating suppliers. JPMorganChase aspires to provide up to $1 billion in debt financing to suppliers on the platform. Michigan Central, Newlab and the Michigan Economic Development Corporation aspire to attract 10 to 20 additional industrial buyers representing over $1 billion in annual demand commitments by the end of 2036.
The platform works by having industrial buyers identify manufacturing challenges through "Open Calls" that innovative suppliers can address. Initial focus areas include robotics and advanced manufacturing automation, advanced energy including nuclear and battery storage, advanced mobility and aerospace, critical minerals processing, and life sciences manufacturing.
Michigan Central will provide testing and scaling infrastructure across its 30-acre innovation district. Newlab aspires to contribute $20 million in in-kind support focused on translating demand into commercialization opportunities.
Alongside the launch, Ford Philanthropy and JPMorganChase announced $550,000 in combined support for Focus: HOPE, a Detroit-based nonprofit providing manufacturing education and job training, to strengthen its industrial manufacturing program and employer connections.