The “NEIdeas: Rewarding Ideas for Business Growth” challenge will begin accepting applications May 8. Small businesses located in Detroit, Highland Park and Hamtramck that are at least three years old are eligible to apply for two types of awards:
- $10,000 for businesses that gross under $1 million annually with ideas to grow
- $100,000 for businesses that gross more than $1 million and under $5 million annually with ideas to grow “big”
Thirty applicants will be awarded $10,000 each and two businesses will receive $100,000 each. In addition, all the business that apply for the challenge will gain connections to other small businesses and entrepreneurs, access to a network of business resources, and public exposure.
Applications are due June 5 for the $10,000 award and June 19 for the $100,000 award. Online applications, and information on where to pick up physical applications, can be found at www.NEIdeasDetroit.com . Recipients of the $10,000 awards will be notified in September and recipients of the $100,000 awards will be notified in November.
NEIdeas is a partnership of DEGC and the New Economy Initiative (NEI), a special project of the Community Foundation for Southeast Michigan.
Business Development Manager