Hatch Detroit announced its annual contest to support local entrepreneurs, with an emphasis on helping out strategic neighborhoods.
The business competition, which encourages the public to vote for their favorite business idea, seeks entrepreneurs with a retail concept to submit their business plans to establish a brick and mortar location in Detroit, Highland Park, or Hamtramck. Business applications will be accepted May 2–July 15.
The winning business pitch will take home $50,000 from Comerica Bank, $25,000 in branding and logo design from Team Detroit, and a package of accounting, legal, IT, public relations, and counsel from Hatch Detroit and its partners. Comerica is investing more than $125,000 into Hatch this year.
The additional funds will be allocated to enhance the contest and its alumni through marketing and public relations efforts as well as a series of business planning sessions hosted by Hatch Detroit in their targeted neighborhood revitalization areas of Hamtramck, Jefferson East, Grandmont Rosedale, and the Avenue of Fashion. Four workshops are scheduled during the contest application period:
- June 2 – Hamtramck
- June 16 – Jefferson East
- June 29 – Avenue of Fashion
- July 7 – Grandmont Rosedale
The free workshops will provide an opportunity for entrepreneurs to work with established business owners to strengthen their business ideas, solidify their business plans, and develop a strong contest application.
"The Comerica Hatch Detroit Contest is a catalyst of business competitions. Not only does it help the winning businesses to establish storefronts, but it introduces us to the area’s top entrepreneurs," said Vittoria Katanski, executive director of Hatch Detroit. "All contest alumni are continuously encouraged and guided toward opening their doors."
The contest has garnered 1,400 business submissions in the past few years that helped crown Hugh, La Feria, Batch Brewing Company, Sister Pie, and Live Cycle Delight as contest winners, and helped open doors for businesses like the Detroit Institute of Bagels, Detroit Vegan Soul, and Busted in Detroit.