Detroit Startups To Compete For $1 Million In Loans

DETROIT (AP) — Startup companies can compete for $1 million in interest-free loans as part of the Quicken Loans Detroit Demo Day.

Businesses have through April 14 to apply online.

The Detroit-based mortgage lender says 100 companies will advance to the second round of the competition. Those companies and their business plans will be judged by a group of city business leaders.

Twenty finalists — in the city or willing to move to Detroit — will be invited to make presentations or give demonstrations May 25 before a panel of nationally recognized business leaders at the Gem Theatre downtown. The top eight will receive $50,000 to $200,000.

Quicken Loans Chair Dan Gilbert says “the most creative, innovative, energy-filled growing small businesses in the city” are being sought for the competition.

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Online: https://detroitdemoday.com/

 

© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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