Baobab Fare is the 2017 winner of $50,000 in the seventh Comerica Hatch Detroit Contest to help open a brick and mortar business in Detroit, Highland Park or Hamtramck. The announcement was made tonight at a ‘Shark Tank’ style Hatch Off event.
Baobab Fare is a restaurant, market and juice bar, offering an array of prepared menu items, groceries, juices and other retail products unique to East Africa. Customers will be warmly welcomed to simply shop for retail products such as herbs, spices, produce, fresh meat or other groceries.
“Each of this year’s competitors presented a new and unique business idea that Detroiters can get behind,” said Vittoria Katanski, executive director, Hatch Detroit. “Baobab Fare will be a valuable addition to Detroit’s growing independent small business retail and we are proud to support them as they work toward opening their doors to the people of Detroit.”
Baobab Fare will receive $50,000 from Comerica Bank and a package of more than $200,000 in pro bono support and counsel from Hatch Detroit and its partners. Support includes legal services from Honigman Miller Schwartz and Cohn, accounting from Macavage Financial Services, architectural design, IT services and public relations.
More than 160 entrepreneurs entered the 2017 contest before 10 semi-finalists were announced to the public for voting. After more than 200,000 votes were cast, the four finalists were selected by and introduced to the public. A second round of public voting closed today at noon and each finalist pitched their business idea live to a panel of judges and an audience of their peers during tonight’s Hatch Off event.
“This contest helps expose hardworking, innovative, home-grown businesses to Detroit and this year was no different,” said Monica L. Martinez, senior vice president of External Affairs for Comerica Bank. “We welcome Baobab Fare as they join the family of Hatch Alumni who are helping revitalize the small business landscape in our community.”
To learn more about Baobab Fare, visit HatchDetroit.com.
About Hatch Detroit:
Hatch Detroit is a Michigan based 501(c)(3) organization that champions and supports independent retail businesses in Detroit through funding, education, exposure, and mentoring. Hatch Detroit was founded by Nick Gorga, a Detroit native who is passionate about the revitalization of the city and inspiring others in the community to create change.
About Comerica Bank:
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA). Founded in Detroit in 1849, Comerica continues to invest in Michigan, including the multi-million dollar restoration of Comerica Bank Center, its Michigan Market headquarters in downtown Detroit. For generations, Comerica Bank has been making a positive difference in the lives of Michigan residents, helping its customers be successful and providing financial assistance to help charitable organizations meet their diverse goals. Comerica Incorporated is a financial services company strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. To find us on Facebook, please visit www.facebook.com/Comerica. Follow us on Twitter at @ComericaCares.
