DETROIT (AP) — Small businesses in the Detroit area with innovative growth plans can compete for $10,000 each.
The deadline to apply for the New Economy Growth Initiative’s Rewarding Ideas for Business Growth Challenge is Friday. Organizers say 26 existing small businesses will receive awards.
A final information session is scheduled Thursday at TechTown in Detroit.
NEIdeas offers grants to for-profit businesses that are at least three years old and located in Detroit, Hamtramck or Highland Park. The companies are asked to share their ideas to grow in a straightforward, 400-word application.
Since 2014, NEIdeas has awarded 118 local businesses nearly $2 million and connected hundreds of others to technical assistance opportunities. More than 70 percent of past winners are minority-owned businesses and 60 percent are owned by women.
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