The following organizations play a crucial role in supporting small businesses and startups in the Detroit Region by offering a range of resources and services most often in the form of funding/grants along with education and training. The goal of these organizations is to help entrepreneurs navigate that range from business plan ideation and the opening stages of their ventures. While some organizations are open to the public, some organizations have criteria in place to support diverse-owned businesses. Explore the small business funding options available below.
Regional Funding
Build Institute
The Build Institute helps people turn their business ideas into reality by providing the necessary tools, resources, and support networks in Detroit. Through entrepreneurship classes, Build Basics, the Build Institute works to empower people in Detroit to launch ideas and grow businesses. In addition to classes, the Build Institute offers networking events, mentorship, connections to resources, and a nurturing community that allows ideas to develop and flourish over time.
Detroit Means Business
Detroit Means Business is working to make Detroit the place for small business owners to thrive by providing resources, solutions, and connections for small business owners and entrepreneurs. Detroit Means Business provides expert guidance, financial resources, and more to help small business owners accelerate and grow their businesses.
Hatch Detroit
Hatch Detroit is an annual contest by TechTown, supported by Comerica, that allows the community to vote for the business they would like to receive a $100,000 grant to open a brick-and-mortar storefront in Detroit, Hamtramck, or Highland Park. Top contestants are offered additional technical and entrepreneurial support after the winner is announced.
Motor City Match
Motor City Match provides businesses across Detroit with resources and opportunities in five tracks (Plan, Develop, Design, Cash, and Restore) to support businesses in all stages of their journeys. From offering grants and technical assistance to educational programming and architecture, Motor City Match nurtures business owners to support the city’s economic future.
New Economy Initiative
New Economy Initiative is a special project of the Community Foundation for Southeast Michigan, aiming to build an inclusive regional support network for under-represented entrepreneurs and small businesses. They offer grant proposals for businesses throughout Wayne County on an invitation-only basis.
SCORE
SCORE Southeast Michigan is a 501(c)(3) nonprofit organization dedicated to helping small businesses get off the ground, grow, and achieve their goals through education and mentorship. SCORE is supported by the U.S. Small Business Administration and is built on a network of 10,000 volunteers. SCORE resources include volunteer mentors, free business mentoring (in-person, email, or video), free business tools, and free business workshops.
TechTown
TechTown Detroit helps technology startups and local businesses launch and grow, serving as an incubator and accelerator. TechTown supports businesses with coworking, office, meeting, and event space and connects entrepreneurs to resources, learning, and networking events in Detroit.
Diverse-Owned Business Funding
Metro Detroit Black Business Alliance
Metro Detroit Black Business Alliance works to help Black businesses shine by providing programs and resources and advocating for policies that result in profitable and sustainable Black-owned businesses connected to public and private economic opportunities. Metro Detroit Black Business Alliance provides expanded opportunities for its members to connect with leaders and help advocate for policies critical to the success of Black businesses in the region.
Michigan Women Forward
Michigan Women Forward is a public foundation that provides economic and personal opportunities for girls and women to become entrepreneurs and leaders. They offer programming, funding, and networking as part of a continuum of wraparound services to help women’s businesses in every life cycle stage.
ProsperUS
ProsperUS Detroit is a place-based economic development strategy designed to empower low and moderate-income, immigrant, and minority individuals. Through a culturally competent range of services, ProsperUS strives to support the entrepreneurial spirit and small business community that exists in Detroit’s neighborhoods.
State and Federal Funding
Michigan Economic Development Corporation
The Michigan Economic Development Corporation (MEDC) provides a variety of resources for small businesses to grow, including the Match on Main grant program, Community Capital, Good for Michigan, and more.
Michigan Founders Fund
Michigan Founders Fund is a network of entrepreneurs and investors who pledge funding to support local organizations and small businesses whose missions are to better and enrich their communities. They also offer a program for postsecondary students to gain exposure to entrepreneurship and professional experiences through hands-on relationships with startups.
Small Business Association of Michigan
The Small Business Association of Michigan is an organization that advocates for the success of small businesses throughout the state of Michigan by sharing knowledge and networking connections while building a solid foundation to amplify the collective voices of business owners and their needs.
U.S. Small Business Administration
The U.S. Small Business Association (SBA) is the only cabinet-level federal agency fully dedicated to small businesses and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses. Resources range from free business counseling and SBA-guaranteed business loans to business disaster loans and federal government contracting.
For more information, visit the Small Business Resource Center.
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