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The Michigan Economic Development Corporation (MEDC) is working with one of Michigan's most dedicated community capital champions, Revalue, whose goal is to bring a unique, educational experience. After much work and anticipation, Revalue announced that they will have a second round of Michigan's local investor education initiative, under the name Grubstake.
Revalue has created a way for community members who might be interested in local investing and the due diligence process to get their feet wet by putting them through a mock pitch and investment decision experience.
“We all know why buying locally makes sense, what it does for our communities with the circulation of dollars and building of wealth. Investing locally is the next logical evolution. Over the last 50 years, we’ve managed to invest over 99.9% of our wealth outside of our communities. Shifting even a tiny percentage as part of a well thought out investment portfolio by everyday citizen investors can be game-changing for communities across Michigan,” says Angela Barbash, CEO, Revalue.
“Not only does it keep financial wealth at home, but investing locally builds relationships, investors become advocates and promoters of businesses they have a stake in, and it can even help strengthen civic engagement.”
Over 400 investors from all experience levels have participated in this due diligence role-playing simulation game, providing very positive feedback so far. Cities that have hosted the workshop over the last year include Owosso, Wayland, Wayne, Ypsilanti, Milan, Niles, Sault Sainte Marie, and Charlevoix. This summer, Revalue will be bringing the workshop to an additional 7 Michigan communities:
Detroit – August 15
Grand Rapids – August 28
Lansing – September 4
Ferndale – September 9
Adrian – September 12
Cadillac – September 17
Houghton – September 24
It's a term from the late 19th century that has fallen out of use, but is completely applicable today:
noun: an amount of material, provisions, or money supplied to an enterprise (originally a prospector for ore) in return for a share in the resulting profits.
verb: provide with a grubstake.
The term was coined during the era of gold mining. Miners would come into town and residents would offer a grubstake in the form of lodging, food, or necessities. In exchange, the residents would receive a portion of the profit, or a grubstake.
Check out whatisgrubstake.com for resources and information about all the upcoming events in Michigan.
Revalue is a fee-only Registered Investment Advisory (RIA) firm that builds and manages investment portfolios for those searching for a way to make the world a better place, while still earning the return they need. Revalue is independent, woman and minority-owned, and a Certified B Corporation©.