• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Watch

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Detroit Is Having a Total Entrepreneurial Moment This Month

By
Donna Fuscaldo
Donna Fuscaldo
Down Arrow Button Icon
By
Donna Fuscaldo
Donna Fuscaldo
Down Arrow Button Icon
May 6, 2016, 9:30 AM ET
Detroit Area Economy Worsens As Big Three Automakers Face Dire Crisis
Spencer Platt — Getty Images
Add Fortune on Google for similar content.

Detroit isn’t known for being a bustling startup hub, but it’s trying to be. A few years after being battered by the Great Recession, Motor City is going to great lengths to lure more entrepreneurs. This month alone, it’s hosting three big startup events.

Home to trailblazers such as Henry Ford and Motown Records founder Berry Gordy, Detroit has hardly been devoid of innovation. It’s just hoping to attract and produce that kind of innovation more consistently. “With the downturn of 2008 and 2009, there was a more concerted effort to take all the talent that we have and help them by creating the knowledge and infrastructure that exists for entrepreneurs,” says Maureen Krauss, senior advisor at the Detroit Regional Chamber of Commerce.

Related: Business Advice From a Man Who’s Poured $35 Million Into Struggling Companies

Auto manufacturing continues to steer Detroit’s innovation, with an average of one auto patent issued per day for naerly 50 years and counting, says Krauss. The volume of patents is so high the U.S. patent office opened its first satellite office in Detroit in 2012.

The city is also gaining attention from big players in the startup world. In 2013, Goldman Sachs chose Detroit as one of the cities for its 10,000 Small Businesses program, which helps business owners gain skills in negotiating, marketing and managing employees. Detroit also has its Motor City Match program through which it provides $500,000 in grants each quarter to support small businesses and startups in the area.

 

It doesn’t hurt that the cost of living in Detroit and its surrounding areas is cheaper than in most large cities. In that way, an entrepreneur hoping to open a restaurant is going to have an easier go of it in Detroit than in New York City or Los Angeles. “Companies that start in the community and nurtured in the community stay in the community,” says Krauss. “Our goal is to provide the support to these startups so they can succeed and grow in our community.”

Putting its money where its mouth is, Detroit is hosting three major startup events this month including Detroit Entrepreneur Week, Detroit Techweek, and Startup Week.

Detroit Entrepreneur Week

On until Saturday, this week-long event is not only a celebration of the people who are starting or growing businesses in the Detroit area but also a treasure trove of resources for would-be entrepreneurs looking to get their ideas off the ground. The festival includes events, workshops and seminars designed to provide support for early stage and existing small businesses serving the city and neighboring areas. It’s also a venue for entrepreneurs to network and collaborate and advance the entrepreneurial momentum that is taking form in Detroit. It culminates on Saturday with an all-day Small Business Legal Academy event in which some of Detroit’s law firms and legal departments will provide legal advice and information to startups.

Related: What Makes a Great Boss

Detroit Techweek

Running until Monday, Detroit Techweek is a week-long event designed to help technology focused start-ups in the region. Techweek includes interactive workshops, hackathons, startup pitch competitions, educational seminars, a speaker series, tech job fair and the ability to network with other entrepreneurs in the area. The technology focused startup event draws not only entrepreneurs from Michigan but investors and technology companies looking to support the startup movement in Detroit.

Startup Week

This five-day event, running from May 21 through May 27, is designed to celebrate and support startups in Detroit. Led by entrepreneurs and hosted in the entrepreneurial spaces in and around the city, Startup Week brings together entrepreneurs to network, engage in hackathons, learn about the innovations driving the resurgence in the city and get advice and information on how to get a business up and running and more importantly growing.

About the Author
By Donna Fuscaldo
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

Ukraine uses business principles to maximize Russia’s casualties and economic costs, potentially crushing its will to keep fighting, RAND says 
EconomyUkraine invasion
Ukraine uses business principles to maximize Russia’s casualties and economic costs, potentially crushing its will to keep fighting, RAND says 
By Jason MaAugust 3, 2026
21 minutes ago
What percentage of your income should go toward your mortgage?
Personal Financemortgages
What percentage of your income should go toward your mortgage?
By Joseph HostetlerAugust 3, 2026
40 minutes ago
George Santos stands in front of the US Congress on Capitol Hill.
CryptoUnited States
Kalshi CEO clashes with disgraced former Congressman George Santos in latest prediction market controversy
By Camila Grigera NaónAugust 3, 2026
44 minutes ago
A ship sails on the ocean near the Strait of Hormuz
EnergyShipping
The Iran war already has a winner: The world’s largest shipbroker notching record earnings from the ‘exceptional volatility’ in the Strait of Hormuz
By Sasha RogelbergAugust 3, 2026
50 minutes ago
A record 34 women now run Fortune Global 500 companies. That’s still just 6.8%
NewslettersMPW Daily
A record 34 women now run Fortune Global 500 companies. That’s still just 6.8%
By Emma HinchliffeAugust 3, 2026
2 hours ago
‘A hidden gem’: Odyssey fans are shelling out up to $2,000 to buy 70mm IMAX tickets on eBay
Arts & Entertainmentimax
‘A hidden gem’: Odyssey fans are shelling out up to $2,000 to buy 70mm IMAX tickets on eBay
By Sarah GlodekAugust 3, 2026
2 hours ago

Most Popular

Bars, bowling alleys, and movie theaters cost too much to run and visit. Americans have run out of places to hang out and we're paying with our health
North America
Bars, bowling alleys, and movie theaters cost too much to run and visit. Americans have run out of places to hang out and we're paying with our health
By Catherina GioinoAugust 2, 2026
1 day ago
As Trump balks again at escalating war, Iran smells ‘blood in the water’ and looks to exploit its newfound strategic advantage, experts say
Middle East
As Trump balks again at escalating war, Iran smells ‘blood in the water’ and looks to exploit its newfound strategic advantage, experts say
By Jason MaAugust 2, 2026
1 day ago
The labor market could become so backward that the economy will have to shed jobs to keep unemployment steady
Economy
The labor market could become so backward that the economy will have to shed jobs to keep unemployment steady
By Jason MaAugust 1, 2026
2 days ago
Trump just invoked a 1930 tariff law no president has ever used — against Canada
Commentary
Trump just invoked a 1930 tariff law no president has ever used — against Canada
By Caleb PetittAugust 2, 2026
1 day ago
The average worker would need to save for 52 years to claw their way out of the middle class and be classified as wealthy, research reveals
Success
The average worker would need to save for 52 years to claw their way out of the middle class and be classified as wealthy, research reveals
By Orianna Rosa RoyleAugust 2, 2026
1 day ago
He was homeless at 16. Now he sits on the board of David Beckham's wellness company and his business is about to hit $1 billion in revenue
Success
He was homeless at 16. Now he sits on the board of David Beckham's wellness company and his business is about to hit $1 billion in revenue
By Emma BurleighAugust 2, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.