It’s a chance for entrepreneurs to prove their idea is more than a pipe dream.
Dating back to 2011, the Comerica Hatch Detroit Contest presented by Opportunity Detroit has led to more than a dozen businesses opening in Detroit and Hamtramck. Those businesses not only bring businesses, money and personality to metro Detroit — they also have led to more than 80 jobs.
The goal of Hatch Detroit is to bring brick and mortar businesses to neighborhoods — and now budding entrepreneurs have their chance to become the next success story.
The latest round of the Comerica Hatch Detroit Contest is starting soon. Applicants interested in taking their idea to a reality can now apply to be a part of the next competition which comes with a chance to win a $50,000 grant.
“It gives people exposure they don’t normally have,” said Vittoria Katanski, the executive director of Hatch Detroit.
Katanski noted that nearly 30-percent of businesses close in the first one to six years of business. To date none of the businesses that have won the Comerica Hatch Detroit contest have closed their doors. In fact, many of the businesses that didn’t win, but made it close to the finish line have went on to open their doors.
The latest winner to open is ‘Live, Cycle, Delight’ located in West Village.
Amina Daniels, the owner, told 7 Action News that they’ve just opened their doors but they’re already seeing an uptick in business.
“We’re getting more butts on bikes,” said Daniels, “and more and more people are find out that we’re open.”
They’ve recently opened a 9:30 a.m. time slot in addition to their initial offerings. Daniels said it’s the perfect time for adults dropping kids off at school and looking to start their day. Don’t let the name fool you though, they’re also teaching Yoga classes and TRX.
Daniels said that the Hatch Detroit competition helped her prepare for the business world.
“It’s like the survival of the fittest entrepreneur in the city of Detroit,” she said with a laugh.
The competition brings people with business ideas together. Those who apply and make it into the competition compete week-to-week and learn more information along the way.
Daniels credited the competition with the early success of her business, “You really have to step your game up. First you had the top 25, then the final 10 and final four.”
Katanski said that competition is built so that it prepares the competitors. While the winners have had success, many of the past runner-ups; and those who finished even further back, have went on to open businesses with success.
Part of that success comes from the competition, but many strike up relationships with the Hatch Detroit workers. They often provide mentorship, help write grants, and have even helped some entrepreneurs find space to open businesses.
If you’d like to learn more about the Comerica Hatch Detroit Contest, or apply, you can visit their website.
If you’d like to look into taking classes at Live, Cycle, Delight you can check find details online: http://www.livecycledelight.com/