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LANSING (MITechNews.Com) — The Michigan Economic Development Corporation would operate a new $3 million venture capital matching fund for the state’s technology companies under a proposal outlined in December to the Michigan Strategic Fund Board. Mike Psarouthakis, VP of business acceleration for the MEDC, said initial proposed funding would total $3 million, but the hope is to get a commitment of $10 million over the next three years. Technology companies would have to be based in Michigan and follow all Strategic Fund reporting requirements to qualify.