Startup Weekend is returning to Detroit for the second time this Friday at Wayne State University's College of Engineering.
Startup Weekend holds these types of events all around the world, including at Compuware's headquarters in downtown Detroit last year. Detroit Startup Weekend is designed for students and professionals from all disciplines who have big ideas and who actually want to make these things happen. The 54-hour long event focuses on community building, networking and finding ways for entrepreneurs to improve their start-ups or get their ideas off the ground. More about the event here.
Franck Nouyrigat, the director of Startup Weekend, agreed to answer a few questions over email about Startup Weekend and Metro Detroit's entrepreneurial ecosystem.
What can people expect to come away with from this year's Detroit Startup Weekend?
We expect them to come away with more experience and a better understanding of what being an entrepreneur is about. According to our past Startup Weekend, 10 percent of them should have incorporated their start-up within the next six months. Finally, the greatest thing about Startup Weekend is networking.
Metro Detroit has put a lot of emphasis on building up its entrepreneurial ecosystem in recent years. How far along is it developmentally in comparison to other major metro areas?
The entrepreneurial ecosystem requires two things, a community of entrepreneurs and some investors to support them. In the case of Startup Weekend we focus on start-ups (Silicon Valley like). The pieces necessary to build the ecosystem already exist in Detroit, but the shift is to truly instill a culture that fosters innovation. The entrepreneurs need to understand how a start-up works and the investor needs to learn the differences between a classic investment and a high-tech or early stage investment. Some cites like Seattle or San Francisco have already developed these models, some have already evolved and changed a lot these past years, like Austin or Boulder. I think the financial crisis is accelerating this process, and more and more major cities are facing the challenge of redefining their local economy.
Metro Detroit and Michigan have invested a lot of money in business accelerator agencies like TechTown and Ann Arbor SPARK, and their programs, such as the Michigan Micro Loan Fund. How important is it to have these sorts of resources if a region or a state wants to reinvent itself economically?
This is a good move. Start-ups need a place to be nested. This is part of industrializing the "Silicon Valley Magic." Again, it is about building a system and a culture that truly supports start-ups, entrepreneurs and innovation. All you need is a physical space, some money, and a chance to let the best developers and entrepreneurs work together. The failure rate can be high, and investors need to remember that results will not happen overnight. This process is a long one, and little by little cities like Detroit will be able to have their own start-up industry.
Name one no-brainer change that the leadership of Metro Detroit or Michigan could make to help encourage more entrepreneurship?
Entrepreneurs are people. Having the leadership of Detroit or Michigan meeting their new ecosystem and discussing it with them is what will make a difference. What does this mean? Have them attend local events not as speakers or public figures, but as attendees. This is a learning process for everyone.
Source: Franck Nouyrigat, director of Startup Weekend
Writer: Jon Zemke
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.