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Small businesses compete for $10,000 grants

DETROIT — Thirty out of 600 small businesses were awarded the grants, produced in partnership with the Community Foundation of Southeast Michigan and the Detroit Economic Growth Corp.


DETROIT —The New Economy Initiative (NEI) awarded $10,000 grants to thirty small businesses, according to The Detroit News.

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The NEI is a special project of the Community Foundation for Southeast Michigan, said the article. Nearly 600 companies entered the competition. Restaurants, urban farms, grocery and retail stores and coffee shops were among the grant recipients.

“Most of these small businesses were under the radar screen, but critical for their neighborhood’s growth,” shared David Egner, executive director of the NEI, in the article. “We’re not looking at the start-ups. We’re concerned about the been-ups and how they can get help for that business.”

Read also: Small business owners want government help, survey says

Businesses vied for the grants in a competition called NEIdeas. The contest awards 30 $10,000 grants to businesses that make less than $1 million per year, and two $100,000 grants for those that make between $1 and $5 million annually, explained the article.


The public will vote on two other winners via text message, noted the article.

The competition is held in partnership with the Detroit Economic Growth Corp. The program will continue for at least the next three years, stated the article.

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