If you think you have the next best idea for a Detroit retail business start-up, you have the chance to win $50,000 and loads of help getting started from Comerica Bank and Hatch Detroit.
Entrepreneurs, new and experienced, are encouraged to submit their concepts for Detroit's newest retail business.
The winning pitch will receive a $50,000 grant courtesy of Comerica Bank and legal, marketing, accounting and IT support from Hatch Detroit.
"It's amazing to watch these business plans evolve from mere ideas to brick and mortar retail shops around Detroit," said Vittoria Katanski, Hatch Detroit executive director. "What's even more exciting is that the contest has hatched more than just the two previous winners. Past contestants have been so inspired by the overwhelming community support during the competition, they've continued to move their business plans forward, turning their ideas into retail realities all over the city."
Here's a look back at some of the past contestants who have or are preparing to open up shop in Detroit:
- Hugh, a male accessories shop, won the 2011 contest, open in Midtown
- pot & box, a boutique flower shop, currently operating a pop-up shop in D:Hive and will open a storefront in Corktown
- Alley Wine is moving forward at a Midtown location
Detroit Institute of Bagels is in construction mode in Corktown
- La Feria, a Spanish tapas concept, 2012 winner to open in Midtown
- Rock City Eatery, a locally-sourced artisan pie company, is in the process of opening in Hamtramck
- Detroit River Sports, a river sporting company offering tours, lessons and rentals will open along the river this summer
- Detroit Vegan Soul, a vegan soul food restaurant to open in West Village
- Pho da Nang, a traditional Vietnamese restaurant, to open in Midtown
"Comerica has a long history of supporting businesses in Detroit, from small to large, newcomers to century-old institutions," said Mike Ritchie, president of Comerica Bank-Michigan. "Our hope is that investments like our grant to Hatch Detroit will continue to encourage others to explore new and creative ways to improve enterprise in the City of Detroit and across the region."
This year, the contest submission period is limited to just six weeks and the application process now requires a supporting visual to better illustrate the business idea. For complete submission guidelines and contest rules, visit http://www.hatchdetroit.com/. The submission deadline is July 13, 2013.