Comerica Hatch Detroit Contest Reveals Top Four Finalists

Rhea-AI Summary

The Comerica Hatch Detroit Contest has announced its top four finalists competing for $100,000 in startup funds from Comerica Bank and technical assistance from TechTown. The finalists are:

• Bouncing Around The Motor City: event planning and party rentals.
• Konjo Me: Ethiopian cuisine.
• Next Chapter Books: bookstore promoting literacy.
• Sepia Coffee Project LLC: specialty coffee roastery.

Public voting for the finalists runs from April 24 to April 26, coinciding with the Hatch Off event where the businesses will pitch their plans to judges. This year marks a significant milestone for the contest, as it has supported over $1 million in local entrepreneurship since its inception in 2012.

Positive

• Finalists can win $100,000 in startup funds.
• The Comerica Hatch Detroit Contest has committed nearly $1 million to support local businesses since 2012.
• Each finalist demonstrates strong community engagement and entrepreneurial spirit.

Negative

• None.

Public voting for bookstore, Ethiopian restaurant, roastery and party rental shop continues April 24-26

DETROIT, April 13, 2023 /PRNewswire/ -- The public has cast their votes and, after a tight race, the Comerica Hatch Detroit Contest by TechTown is ready to announce the four entrepreneurial teams advancing to the final stage of the competition, which includes another round of public voting and the opportunity to compete at the Hatch Off on April 26.

These four businesses will face off to win $100,000 in startup funds from Comerica Bank, as well as technical assistance from TechTown and its partners, to kickstart and open a brick-and-mortar business in Detroit, Hamtramck or Highland Park.

"TechTown understands that the public's vote in the Comerica Hatch Detroit Contest means empowering the community to shape the future they want to see. By casting your vote, you're not only helping deserving entrepreneurs achieve their dreams, but also contributing towards the growth and vitality of Detroit's neighborhoods," said Christianne Malone, assistant vice president for economic development at Wayne State University and chief program officer of TechTown Detroit. "The fact that these four businesses have made it to the final stage of the contest based on the community's voice is a remarkable indication of the success in each of their futures."

These four entrepreneurial teams now enter the final round of public voting and will have the chance to pitch their business plan in front of a live audience at the Comerica Hatch Detroit Contest's annual Hatch Off on Wednesday, April 26.

The four businesses vying to take home the crown and $100,000 in this year's Comerica Hatch Detroit Contest are:

• Bouncing Around The Motor City: Detroit's premier one-stop shop for balloons, decor, event planning and party rentals.
• Konjo Me: a unique and vibrant Ethiopian food experience that shares appreciation for the rich and diverse global cuisine with the community it serves.
• Next Chapter Books: a general interest new and used bookstore in Detroit working to reflect and create community, inspire learning and nurture the joy of reading among all ages.
• Sepia Coffee Project LLC: a minority-owned roastery sourcing specialty coffee from farmers throughout Africa, the Americas and the Indian-Pacific regions.

The community can once again cast their votes for their favorite business beginning April 24 at noon through the completion of the pitch competition on April 26. Voting will take place online at hatchdetroit.com/vote, and individuals can vote once every 24 hours.

Over the years, the Comerica Hatch Detroit Contest has helped launch some of Detroit's most successful and well-known businesses, including La Feria (2012), Sister Pie (2014), Meta Physica Massage (2016), Baobab Fare (2017) and 27^th Letter Books (2019).

With this year's investment, Comerica Bank and the Comerica Charitable Foundation will have committed nearly $1 million to Hatch Detroit since Comerica's partnership began in 2012.

"The partnership between Comerica Bank and TechTown is a direct reflection of both organizations' unwavering dedication to helping small businesses thrive," said Linda Nosegbe, Comerica Bank National Community Impact Manager. "Just by making it to the final stage of this competition, these finalists have proven themselves as exceptional entrepreneurs that clearly demonstrate the passion, creativity, and hard work required to turn a dream into a successful business and will surely make a lasting impact on Detroit."

The annual Hatch Off event functions similarly to a Shark Tank-style pitching competition. The top four businesses will have the chance to present their business pitch to a panel of judges and a live audience.

New this year, public voting will remain open through the pitch competition at the Hatch Off. The winner of the 2023 Comerica Hatch Detroit Contest will be chosen through a combination of the public's vote and judges' deliberations.

Tickets are available to witness the top four business pitches and see the winner of the Hatch Off competition crowned. The Hatch Off takes place on Wednesday, April 26 at 7 p.m. (doors open at 6 p.m.) at the Wayne State University Industry Innovation Center at 461 Burroughs Street in Detroit. To purchase your ticket to the Hatch Off, visit HatchDetroit.com. The Hatch Off pitch competition will also be streamed live this year on HatchDetroit.com and the Hatch Detroit Facebook page.

Comerica Bank, a subsidiary of Comerica Incorporated, has served Michigan longer than any other bank with a continuous presence dating back nearly 174 years to its Detroit founding in 1849. It is the largest bank employer in metro Detroit and has approximately 4,500 employees (FTE) statewide. With one of the largest banking center networks in Michigan, Comerica nurtures lifelong relationships with unwavering integrity and financial prudence. Comerica positively impacts the lives of Michigan residents by helping customers be successful, providing financial support that assists hundreds of charitable organizations, and actively participating in Detroit's downtown revitalization. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Follow on Facebook: www.facebook.com/Comerica, Twitter: @ComericaBank and Instagram: @comerica_bank. Download new Comerica Bank corporate logo.

TechTown is a nonprofit business service organization that provides programs, education and resources for early- to growth-stage small businesses and tech entrepreneurs. By building bridges for entrepreneurs to succeed, TechTown is accelerating an inclusive economy for Detroit and Southeast Michigan. Since 2007, TechTown has supported 5,371 companies, which created 2,277 jobs and raised more than $385 million in startup and growth capital. For more information, visit techtowndetroit.org.

Hatch Detroit supports both existing and new retail initiatives in the cities of Detroit, Highland Park and Hamtramck. Hatch Detroit, now part of TechTown Detroit's small business services programming, was founded in 2011 to give residents and aspiring entrepreneurs an opportunity to have a voice in neighborhood retail development and joined TechTown in 2022. Hatch Detroit provides funding, exposure and mentoring in support of its alumni entrepreneurs. With support from Hatch Detroit, 50 alumni have opened businesses. They employ over 500 people and have invested over $13 million in economic development. To learn more, visit hatchdetroit.com.

 

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SOURCE Comerica Bank

FAQ

What is the Comerica Hatch Detroit Contest?

The Comerica Hatch Detroit Contest is an annual competition that provides funding and support to new businesses in Detroit, Hamtramck, and Highland Park.

Who are the finalists for the 2023 Comerica Hatch Detroit Contest?

The finalists are Bouncing Around The Motor City, Konjo Me, Next Chapter Books, and Sepia Coffee Project LLC.

When can the public vote in the Comerica Hatch Detroit Contest?

Public voting will take place from April 24 to April 26, 2023.

What is the prize for the winner of the Comerica Hatch Detroit Contest?

The winner will receive $100,000 in startup funds and technical assistance.

When is the Hatch Off event for the Comerica Hatch Detroit Contest?

The Hatch Off event will be held on April 26, 2023.