Michigan's entrepreneurial economy is rising, but at a slower pace than in previous years, according to the Michigan Entrepreneurship Score Card released Monday.

The good news is a growing focus on support for second-stage companies, defined as businesses with 10-99 employees, offers hope for the long-term health of the state's entrepreneurial economy, says the report by Michigan Celebrates Small Business (formerly MiQuest) in collaboration with SBAM.

More than 200 factors are taken into considerations to produce the annual report card, which measures the overall fitness of the state's entrepreneurial landscape, inlcuding such factors as transportation, workforce readiness, education and business costs.

"Entrepreneurs drive innovation and economic activity in our state, making Michigan communities vibrant places to live, work and play," SBAM President Brian Calley said in a news release. "This Score Card provides real insight and helpful data to help guide policymakers as they consider enhancements and needed interventions to our economic environment."

The state's entrepreneurial climate, which includes metrics such as innovation, capital access and general business conditions, fared better than other states. It ranks 18, up from 22 in last year's report.

Meanwhile, entrepreneurial change, which assesses the direction and momentum of growth in the entrepreneurial economy, has also improved. Michigan ranks 24, up from 31 last year.

However, Michigan's entrepreneurial vitality is underperforming compared to other states, according to the report, as entrepreneurs struggle with a growing list of adverse conditions and uncertainties.

The state's deteriorating infrastructure continues to aggravate and threaten business growth, according to the report. Poorer highways, broadband and air access, compared to other states, are "creating constricting competitive drags on both Michigan's entrepreneurial and broader business sectors," the report says.

Other findings:

Michigan continues to hold onto key technology and high-skill economy leadership remarkably well.

The state's general business climate continues to grow, but largely remains mediocre.

Quality of lifein the state continues to support and attract entrepreneurs.

The report is sponsored by Consumers Energy Co., Michigan Municipal League, DTE Energy Co., Michigan State Housing Development Authority, MiBiz, Michigan Association of State Universities and SBAM.