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WJR Business Beat: Hatch Detroit Joins TechTown, Announces $100K Award (Episode 377)
Jeff: Good morning, Paul! Today on the Business Beat, we’ve got Ned Staebler, the outspoken, tell-it-like-he-sees-it advocate for economic development initiatives in our great state of Michigan. Now Ned serves as TechTown’s president and CEO, as well as vice president for economic development at Wayne State University. I had a chance to catch up with Ned yesterday and among other things we covered? Ned informed me that the annual Hatch Detroit contest has joined TechTown Detroit’s suite of entrepreneurial programs, which no doubt should give it extra firepower. Here’s what Ned had to say.
Ned: So Hatch Detroit is the city’s premier retail concept. Been around 10 years, sponsored by Comerica, does a big event every year and awards to the best retail concept in the city a $100,000 prize. And earlier this year, Hatch merged into TechTown as part of TechTown. And we have just launched the Hatch 2022 competition.
Jeff: Founded in 2011, Hatch Detroit’s annual contest has long been supported generously by the folks at Comerica. And the contest awards one savvy entrepreneur a cash grant and a package of in-kind services to open their brick-and-mortar retail business in Detroit, Highland Park or Hamtramck. This year, a $100,000 prize is provided by donation from Comerica Bank and that goes to this year’s winner.
Mike Ritchie, Comerica bank Michigan market president, says “Hatch Detroit has become a vital resource for entrepreneurs and small business incubation. Over the past decade, the impact Hatch Detroit has made is leaving an indelible mark on economic revitalization of the city.”
Since the contest began, 49 Hatch alumni businesses have opened crediting the contest as a major accelerator in their launch. Hatch alumni collectively now employ more than 500 people.
Now if you’re an entrepreneur with a retail concept, you can apply through May 12. Those who want to enter, go to techtowndetroit.org
or hatchdetroit.com to learn more and apply good luck to this year’s entrants.
I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.