Public voting begins as Top 10 entrepreneurs vie for $100,000 prize from Comerica Bank
DETROIT, April 11, 2024 /PRNewswire/ -- 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:
- Amarra Products: a certified woman- and minority-owned business based in Detroit, specializing in natural, organic body scrubs. They provide jobs, training and mentorship to underserved individuals, especially women who have been victims of domestic violence and human trafficking, as well as returning citizens.
- Estella's Vegan Dessert Boutique: Detroit's premier vegan bakery. While known as the "home of the vegan poundcake," Estella's dessert offerings stretch beyond cake, with a made-from-scratch menu that includes cookies, pies, cobblers and more.
- Harry Rich Clothier: creates custom garments for individuals, using fashion as a tool to inspire, liberate and educate people to think beyond the status quo.
- Khana: a Pakistani-inspired food pop-up based in Detroit. Their dishes are derived from the owner's family's traditional Pakistani recipes and influenced by both their American and South Asian upbringing in the city.
- Nada Dry Bar: a woman-founded community bar offering non-alcoholic beverages and light fare, aiming to provide moments of connectivity and joy.
- Natural Living by Design II: a certified minority, female and family-owned enterprise dedicated to delivering holistic solutions for the cultivation of optimal health and wellness. Their curated selection of premium supplements and herbs promote overall well-being.
- Pique Earth: a woman-owned food manufacturing company with a mission to develop chemical-free, 100% organic, locally grown products for the well-being of Earth, ecosystems and humanity. On one acre of land, they cultivate premium gourmet and medicinal mushrooms, as well as veggies, fruits, and fresh and dried herbs and spices.
- Roller Skate Detroit: will provide the metro Detroit area with an entertainment facility focused on healthy fun. Their vision is to become a complete lifestyle brand that combines enjoyment, wellness, enrichment, sophistication, technology and community engagement.
- The Gentleman's Oasis: a sanctuary devoted to the physical and mental wellness of men. They cultivate an atmosphere of tranquility, nurturing healthier lifestyles and empowering men to prioritize their well-being without stigma.
- Unity Community Barbershop: an inclusive barbershop that cultivates a sense of safety and belonging for members of the transgender and LGBTQIA+ communities.
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.
Comerica Bank, a subsidiary of Comerica Incorporated, has served Michigan longer than any other bank with a continuous presence dating back 175 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, X (formerly known as Twitter): @ComericaBank and Instagram: @comerica_bank.
TechTown Detroit, Wayne State University's entrepreneurship hub, 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 its inception, TechTown has supported more than 6,000 companies, which created 2,340 jobs and raised more than $408 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, Hamtramck and Highland Park. Hatch Detroit was founded in 2011 to give residents and aspiring entrepreneurs an opportunity to have a voice in neighborhood retail development and joined TechTown Detroit's suite of entrepreneurial programs and services in 2022. Beyond the Contest, 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 $10 million in economic development. To learn more, visit hatchdetroit.com.
SOURCE Comerica Bank
