Looking to find the right building for your business? Or looking for the right business for your building? The next round of Motor City Match opens March 1, with applications due April 1.
The program, launched by Mayor Mike Duggan and the Detroit Economic Growth Corporation in 2015, supports neighborhoods and business by pairing new and expanding businesses with vacant commercial real estate and providing them with needed resources.The program offers everything from business plan help to cash awards in order for businesses to open their doors.
Since its first round last year, Motor City Match has invested $1 million in 20 different Detroit businesses. The funding has leveraged an additional $6 million in public and private investment.
Over its first two rounds, Motor City Match has had a diverse pool of winners. Of the 196 businesses and property owners that have received support through the program, 70% are minority owned, two-thirds are from Detroit, and half of the winners have been minority woman-owned businesses.
For this round, Motor City Match has simplified its awards categories to include:
- Business Plan – Applicants in this award level will be entrepreneurs that have a great idea but need help developing their business plan.
- Space – Applicants will be a commercial property owner with vacant space looking for a tenant, or a business owner with a business plan or track record of success looking for the right space to open their business.
- Design –This award level is for businesses and building owners who have signed a lease and need help planning renovations to get open for business. This track offers architectural design assistance, construction documents, and priority permitting.
- Cash –Awardees at this level have secured a space, have a plan and bids for their buildout, and are seeking support to fill a financial gap.