The Craig Fahle Show

$500K to 32 Existing Greater Detroit Small Businesses

Thursday, April 17, 2014

NEIdeas: Rewarding Ideas for Business Growth from New Economy Initiative on Vimeo.

The Duggan Administration, the Detroit Economic Growth Corporation(DEGC) and Community Foundation for Southeast Michigan(CFSEM) announced this morning the launch of a two-tiered challenge awarding $500,000 to existing small businesses in Detroit, Hamtramck and Highland Park.

NEIdeas will award 30 small businesses with $10,000 and two with $100,000.

David Egner, Executive Director of New Economy Initiative, a special project of CFSEM, says that at the $100,000, "its about adding jobs and making an economic impact."

Qualifications for the NEIdeas Challenge

- Must have been in business for at least 3 years - Must have operated within "Detroit footprint" of Detroit, Hamtramck, or Highland Park for at least 1 year - Cannot be a franchise - Business owner must be over 18 years of age