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$100,000 Comerica Hatch Detroit Contest by TechTown Returns with Increased Support from Comerica Bank
CMAComerica(CMA) Prnewswire·2025-03-03 15:35

Core Points - The Comerica Hatch Detroit Contest is returning for its 13th year, offering 100,000instartupfundingandsupportservicestoentrepreneurslookingtoestablishbrick−and−mortarbusinessesinDetroit,Hamtramck,orHighlandPark[1][2]−Applicationsforthe2025competitionopenedonMarch3andwillcloseonApril4,withinformationsessionsscheduledfortheweekofMarch17[2][3]−ThecontestincludespublicvotingroundstoselecttheTop10andTop4entrepreneurs,culminatingintheHatchOffeventonJune11wherethewinnerwillbeannounced[4]FinancialSupport−ComericaBankandtheComericaCharitableFoundationhaveincreasedtheirfinancialcommitmenttotheHatchDetroitprogramtoatotalof100,000 in startup funding and support services to entrepreneurs looking to establish brick-and-mortar businesses in Detroit, Hamtramck, or Highland Park [1][2] - Applications for the 2025 competition opened on March 3 and will close on April 4, with information sessions scheduled for the week of March 17 [2][3] - The contest includes public voting rounds to select the Top 10 and Top 4 entrepreneurs, culminating in the Hatch Off event on June 11 where the winner will be announced [4] Financial Support - Comerica Bank and the Comerica Charitable Foundation have increased their financial commitment to the Hatch Detroit program to a total of 200,000 for this year, marking a 50,000increasefrompreviousyears[6][8]−Since2012,ComericaBankandtheComericaCharitableFoundationhavecollectivelycontributedover50,000 increase from previous years [6][8] - Since 2012, Comerica Bank and the Comerica Charitable Foundation have collectively contributed over 1.3 million to the Hatch Detroit program [10] Impact on Small Business Community - The Hatch Detroit Contest has successfully helped create over 50 businesses, employing more than 500 individuals and investing over 10millionineconomicdevelopment[20]−TechTownDetroit,whichintegratestheHatchDetroitprogram,hassupportedover6,090companiessince2007,resultinginthecreationof2,277jobsandraisingmorethan10 million in economic development [20] - TechTown Detroit, which integrates the Hatch Detroit program, has supported over 6,090 companies since 2007, resulting in the creation of 2,277 jobs and raising more than 406 million in startup and growth capital [19] Historical Context - The Hatch Detroit program was founded in 2011 and became part of TechTown's suite of entrepreneurial services in 2022, aimed at fostering neighborhood retail development [20] - Notable past winners include G.L.A.M. Body Scrubs (2024), Bouncing Around The Motor City (2023), and Sister Pie (2014), showcasing the program's role in nurturing successful businesses [14][16]