Comerica Hatch Detroit has opened entries for its contest that gives business owners a chance to win $100,000, contest organizers announced Tuesday.
The annual competition is a partnership between Comerica Bank and TechTown Detroit, an entrepreneurial hub for small businesses and technology companies. It will finance the business, which hopes to open factories in Detroit, Hamtramck or Highland Park, according to a news release.
“This community competition helps bring an aspiring business owner’s dream closer to reality and serves as a vital resource for these young entrepreneurs,” Steve Davis, president of Comerica Bank of Michigan, said in a news release. “Hatch Detroit has made a lasting impact on Detroit’s economic revitalization by fostering entrepreneurial spirit, rewarding innovation and promoting small business development.” Through our partnership with TechTown, we are proud to help local entrepreneurs access the capital and technical assistance needed to take their small business to the next level and thrive.”
This is the 11th year of the competition. The public will be able to offer input on who should win the competition during two rounds of voting: for the top 10, starting on April 5, and for the top four, which will take place live at Hatch Off, where the final round of pitch competition. venue on April 26 in metro Detroit. Details of this year’s Hatch Off will be announced at a later date.
In addition to the cash prize, the winner will receive public relations, accounting, legal and IT support led by TechTown Detroit, according to a press release.
“It’s always been a neighborhood initiative program,” said Christian Malone, Chief Program Officer of TechTown Detroit. “The goal is really to increase the economic vitality of the neighborhood.” It also increases beautification, walkability and safety — and the overall vibrancy of those neighborhoods.”
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Business plans can be submitted on the Hatch Detroit website until February 21st. In the meantime, there are two information sessions taking place on February 2nd and February 9th that are available for business owners to learn more about the competition. Registration is open for information sessions at HatchDetroit.com.
The winning entrepreneur will join other businesses that have officially opened their doors with the support of Hatch Detroit, such as La Feria, Sister Pie, Meta Phisica Massage, Baobab Fare and 27th Letter Books. Little Liberia won the Hatch Off last year.
Hatch Detroit merged with TechTown Detroit to form a partnership last year. Hatch Detroit was run by Vittoria Katanski before its merger, and now Malone runs day-to-day operations for the program.
Business owners can go to HatchDetroit.com to learn more and apply.
Contact staff writer Chanel Stitt on Twitter:@BiChanelStitt.Become a subscriber orsubscription gift