Comerica Hatch Detroit Contest Kicks Off With $50K Prize For Entrepreneurs

By Edward Cardenas

DETROIT (CBS Detroit) - Entrepreneurs with a retail concept for Detroit can begin applying today for a $50,000 cash prize in the Comerica Bank Hatch Detroit Contest.

During the first four years of the contest, businesses such as Sister Pie bakery, Batch Brewing Company and La Feria, have won the grand prize and received the cash grant and a package of services including legal, marketing and advertising, accounting, public relations and IT support from Hatch Detroit and its partners.

"For any business, the prospect of getting $50,000 to build out a location is too good to turn down. For Sister Pie, it was really the motivation to find the space (on Kercheval in Detroit)," said Lisa Ludwinski, owner of Sister Pie, who added the contest led her to work on her business plan, financials and other components to open and run a business. "The exposure alone from the contest was incredible for us, and really helped us as we kept going and trying to build this bakery out. The contest was just an incredible experience for us."

Since its inception, the popularity of the contest has increased with more than 162,000 votes cast - and more than 1,000 business submissions - in the first four years of the contest.

"It has been growing steadily in both in number of people applying and the quality of applications," said Vittoria Katanski, executive director of Hatch Detroit.

In addition to those who have won the grand prize, Hatch works with the top 10 businesses annually to help them open in their doors. Since the start of the contest, 11 alumni have opened including Detroit Institute of Bagels, 2012 finalists Detroit Vegan Soul and Rock City Eatery 2013 semi-finalist Busted in Detroit, and 2014 semi-finalist Bumbo's, who recently opened in Hamtramck.

Hatch also has expanded to assist established businesses through a grant from the Detroit Lions.

The original contest was created by Nick Gorga, who returned to the Detroit area after living in Chicago and wanted to replicate the walkable, independent retail environment he found in his neighborhood in the Windy City.

But instead of just picking the best business plan, a public vote is held as part of the contest to incorporate a social component and include the community in the process.

"Neighborhood retail is really what makes residents live where they live, shop and enjoy their lives," said Katanski.

All applications must be submitted online at www.hatchdetroit.com by July 24. Katanski recommends perspective business owners to take their time with applications to be creative and give judges a way to "visualize" their concept from videos to delivering samples.