04/11/2024 | Press release | Distributed by Public on 04/11/2024 15:23
Public voting begins as Top 10 entrepreneurs vie for $100,000 prize from Comerica Bank
April 11, 2024
The wait is over! The Comerica Hatch Detroit Contest by TechTown, the small business competition responsible for launching some of the city's most popular neighborhood storefronts, is ready to unveil its Top 10 semifinalists. These businesses are now in the running to win $100,000 in startup funds from Comerica Bank to open a brick-and-mortar storefront in Detroit, Hamtramck or Highland Park.
Public voting to narrow down the 10 semifinalists to four finalists will begin Friday, April 12, at noon and run through Thursday, April 18, at noon. Community members can vote for their favorite businesses once per day by visiting HatchDetroit.com.
The four finalists of the 2024 Comerica Hatch Detroit Contest will then be announced on Monday, April 22, with the final round of public voting beginning on Wednesday, May 1 at noon and running through the completion of the pitch competition at the Hatch Off on Thursday, May 9.
"Community support is the cornerstone of success for budding entrepreneurs. Part of what makes Detroit's small business landscape so incredibly special is the community's shared vision for vibrant neighborhoods and unwavering dedication to see local businesses thrive," said Christianne Malone, assistant vice president for economic development at Wayne State University and chief program officer of TechTown Detroit. "Through initiatives like the Comerica Hatch Detroit Contest by TechTown, we witness the power of public engagement in shaping the city's small business ecosystem."
Over the years, the Comerica Hatch Detroit Contest has helped launch some of Detroit's most successful and well-known businesses, including 27th Letter Books (2019), Baobab Fare (2017), Meta Physica Massage (2016), Sister Pie (2014), and La Feria (2012).
Below are the Top 10 businesses competing to win the 2024 Comerica Hatch Detroit Contest:
With this year's investment, Comerica Bank and the Comerica Charitable Foundation will have committed more than $1.1 million to Hatch Detroit in direct funding since Comerica's partnership began, along with additional in-kind support that includes technical services. The program is one of Detroit's most successful small business incubators since it first began in 2011 with Comerica partnering with Hatch beginning in 2012.
"Comerica Bank is honored to aid an initiative that cultivates the dreams of local entrepreneurs and contributes to the vibrant tapestry of Detroit's economic landscape," said Meghan Storey, senior vice president, Michigan director of small business at Comerica Bank. "We believe in the power of entrepreneurship to drive positive change, fuel economic growth, and create opportunity. As a proven launching pad for local small businesses, the Comerica Hatch Detroit Contest by TechTown embodies the essence of entrepreneurial spirit and nurtures the economic revitalization of Detroit."
This year, Comerica Bank is celebrating 175 years of serving its communities, making it Michigan's longest-serving bank. Comerica was founded in 1849 in Detroit during a time when all banks in the city were exclusive to the business community. This was the motivation behind Comerica's decision to gear its banking for the people and for those who wanted to secure their personal and financial future. Since its inception, Comerica has grown in Michigan and throughout the country by focusing on the customer first and offering personal, small business and commercial banking services, as well as wealth management services.
2024 Hatch Off
On May 9, the Contest will culminate with the annual "Hatch Off" where the Top 4 entrepreneurs present their business plans in front of a panel of expert judges and live audience and the winner is announced. The winner of the 2024 Comerica Hatch Detroit Contest will be chosen through a combination of the public's vote and judges' deliberations.
Tickets are now available to witness the Top 4 business pitches and see the winner of the Hatch Off competition crowned. The Hatch Off takes place on Thursday, May 9 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.