The City of Detroit working with the Detroit Economic Growth Corporation (DEGC), has launched the Detroit Startup Fund, a $700,000 program aimed at helping local entrepreneurs grow their businesses and bring new value to the community.
“Detroit always has been a city of innovators willing to take risk to create something new. The Detroit Startup Fund is one of the ways we are making Detroit the easiest and most supportive city anywhere to start and grow innovative new companies,” said @michaeleduggan “Because we already have so much talent here in Detroit, the Startup Fund also creates another reason for that talent to stay here and be part of something special.”
The new initiative will provide a total of 26 grants to eligible startups, split between seed and scale grants.
What’s Available
• Seed grants of $15,000 for early-stage startups
• Scale grants of up to $50,000 for more developed businesses that meet investment criteria
Who Can Apply?
To qualify, applicants must:
You or your startup must be based in Detroit
Your business should be able to grow and offer something that helps the city or makes life better for Detroiters
You agree to officially register as a Detroit-based business
You’re willing to share updates and results with the City of Detroit and DEGC
To be eligible for the larger scale grant, a business must:
• Have already raised at least $100,000 in external investment
• Show a clear plan to raise an additional $250,000
This is Detroit’s first municipal startup fund, created to support innovative local businesses and help build a stronger entrepreneurial ecosystem. The 26 grants aim to give founders the early support they need to grow, hire, and serve the city.
For more information and to apply, visit: detroitmi.gov/government/mayors-office/mayors-initiatives-and-programs/detroit-startup-fund
