In 1981 Michigan Technological University, through its endowment fund, capitalized a private corporation, Michigan Tech Ventures, Inc. In 1985 the Technology Development Corporation was developed as a sister corporation to the Michigan Tech Ventures. Inc, the following year MTU formed the Educational Support Institute (ESI) a non-profit organization to facilitate the transfer of patents and development from the university to the public. ESI formed The Ventures Group, Inc. a for profit organization. The mission of The Ventures Group, Inc. was business development, stimulating the local economy through business start-ups, business growth, and saving and creating jobs. The objective of The Ventures Group was to enable Michigan Technological University to fulfill its economic development responsibility to the community by successfully managing nontraditional gifts through the Educational Support Institute, stimulating economic development and growth and remaining financially viable and stable. The Ventures Group, Inc. sought to obtain their objectives through utilizing assets such as land, buildings, machinery, people and technology. The group invested in local businesses and properties in pursuit of its objectives.