Detroit Startup Week kicked off Monday. It's an event to help new companies and entrepreneurs.
Bill Ford Jr. spoke at the event.
"They can't have a fear of failure. They just have to believe in their product. Believe in their business and then go 100 miles an hour after it."
That's what drives success, according to Bill Ford Jr.
Young startups and entrepreneurs attending the first annual Detroit Startup Week get a chance to hear from Ford and other successful Detroiters.
The event is meant to build bridges between different businesses in order to improve Detroit.
"It's really a rebirth of ideas and to me that is hugely important," Ford said.
There is a lot of talk about growing tech companies in Detroit.
"I'm 29 years old. I started the business four years ago. We are getting ready to launch our flagship product which is a music streaming and Internet radio service," said Durrand Davis, the creator of an Internet company called LavLabs.
He said it is important to invest in young talent.
"Instead of having those software engineers leave the colleges and go to Silicon Valley, we have a company now along with other companies as well where they can stay here in Detroit City," Davis explained.
The attendees have something in common, they believe is the city itself -- not just their individual goals.
"Starting up restaurants, starting up bars, starting other things other than tech, everybody around Detroit is pulling for each other to make it and I love that spirit," Ford explained.
Organizer Niles Heron said, "Where are we one year later? How have we gotten better? How have we gotten worse?
And once you get your business going -- it's important to evolve.
That's why Ford Motor Company is looking to innovate driverless cars.
"We are going to be part of that solution. Our world is changing even as we are standing here," Ford said. "So many people in business, once they get to a certain leave they think they've got it all figured out and they think they've got it made and they stop being curious and that's when the world starts to pass you by."