From Mariangela Pledl, Director of Small Business Programs
Last week the Detroit Economic Growth Corporation’s (DEGC) small business team announced the 11th Round of Motor City Match (MCM) cash winners, which included 11 businesses and one building awardee. In total, the program granted $500,000 across 10 unique Detroit neighborhoods.
Launched nearly three years ago with the goal of creating Detroit’s next generation of entrepreneurs, Round 11 awardees have taken full advantage of the program’s “plan to open” pipeline. In fact, half of this round’s cash winners started their journey with business plan, space and/or design assistance awarded by MCM.
These different award tracks create a path for businesses in all stages of growth. So, whether entrepreneurs are just developing their business plan, need to secure a space, or just signed their lease, MCM has an award track to help them grow and thrive in the city.
Since the program’s launch in 2015, MCM has assisted more than 1,000 entrepreneurs with a variety of resources to help them open a business in Detroit. Of the 125 grant winners thus far, 36 businesses have opened, and another 37 are under construction and expected to open this year. That totals to over 70 new businesses across the city that serve as anchors in their community, building density, providing amenities to residents and stimulating the city’s economy.
Since its start in 2015 MCM has had a wide and impactful reach, spanning far beyond the 7.2-mile Downtown area, with 80 percent of the awardees being located outside of Downtown and Midtown. Furthermore, the awards are staying local, with Detroiters owning 62 percent of the selected businesses. The winners are representative of our community as well, with 80 percent being minority-owned, and 69 percent being women-owned.
The Round 11 award ceremony was held at Michigan Farm to Freezer in Eastern Market, a Round 7 MCM cash awardee. Michigan Farm to Freezer flash-freezes Michigan-grown produce at the season’s peak, allowing farmers to extend their sales throughout the year. Brandon Seng, owner, welcomed the public and the new MCM winners into his production facility and also into the MCM family, a network of support and growth.
The next window for building and business owners to apply will be June 1 to July 1, 2018.
Congratulations to all the MCM Round 11 winners, we look forward to watching you grow!
Motor City Match Round 11 Cash Awardees
Motor City Match Announces Round 11 Cash Awardees
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