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Entrepreneurship : In the News

157 Entrepreneurship Articles | Page: | Show All

Champions of the New Economy event set for May 8

An opportunity to mix and mingle with top business minds at a strolling dinner presents itself at the 2013 Champions of the New Economy on Wednesday, May 8 from 6-9 p.m. at Quicken Loans, JA Finance Park, 577 E. Larned St., in Detroit.

A couple of the luminaries include Joseph L. Welch, chairman, president & CEO of ITC Holdings Corp. and Matt Mosher, founder & CEO of hiredMYway.com.

Click here for more information, and register by May 3.

Atlantic Cities maps Metro Detroit's creative class

A great, comprehensive article on how the 7.2-square-mile greater downtown Detroit is growing posher by the minute, it seems, and how and why its deindustrialized metros (and certain Detroit neighborhoods) are landing the creative class.


"Two of the top 10 creative class tracts are in Birmingham; two are in Bloomfield Township, and another is in Bloomfield Hills, home to some of the priciest real estate in the U.S. and the Cranbrook educational community. Designed by Finnish architect  Eliel Saarinen, the architecture critic  Paul Goldberger  called Cranbrook "one of the greatest campuses ever created anywhere in the world." University of Michigan's  Little  points out in an email to me: "Cranbrook graduates have added to the cutting edge design and creative communities of Detroit and the nation for decades."

Another top creative class tract is in nearby Troy, a sprawling middle-class suburb with excellent public schools, and the site of a high-end mall, the Somerset Collection. Two are in Huntington Woods, a leafy neighborhood that boasts such notable amenities as the public golf course  Rackham and the Detroit Zoo. Two more are in the "Grosse Pointes" — Grosse Pointe Farms and Grosse Pointe Park — the communities of choice for many of Detroit's old industrial magnates, whose lakeshores are lined with sprawling Gilded Age mansions."

More here.

Immigrant entrepreneurs ACCESS opportunities

Hopeful immigrant entrepreneurs now have a fallback in the form of a unique model support program for those needing some business survival skills.


"As lawmakers in Washington work out an overhaul of the immigration system, a Michigan-based social and economic services agency has launched a comprehensive program to help immigrants open or expand businesses.

Dearborn-based ACCESS recently held a graduation ceremony for the inaugural class of its Immigrant Entrepreneur Development Program. It's one of several immigrant- and refugee-focused efforts in the organization's new Growth Center division...

Dijana Bucalo, a former Bosnian refugee who settled in the Detroit enclave of Hamtramck, is a self-described "clothing artist" with a fashion design and costume-making shop in the International Institute of Metropolitan Detroit in the city's Midtown neighborhood. She came to the United States in 1996 after war in her homeland – knowing no English but with experience as a fashion designer.

Still, she took a job far from her preferred field. Bucalo became a real estate agent and said she was successful at it until the housing market tanked a few years ago.

"I should be thankful the economy went bad," she said. "It helped me to think more seriously about my business, my skills and my trade."

More here.

Royal Oak's 1xRun LLC moves to Detroit to accomodate growth

Metromode has written several times about 323East Gallery as well as their limited-edition print business called 1xRun LLC. We always expected big things and, well, big things have come.
"Owners Jesse Cory and Dan Armand will shut the Royal Oak gallery's doors at the end of the year, but a gallery at the new headquarters will replace it. 
Cory and Armand closed on the three-story, 10,000-square-foot building Nov. 29, paying $400,000 on a land contract. The building was renovated in 2005, including all new HVAC and fire control systems. The remnants of an employment business are on the first floor, and a handful of residential lofts are on the other floors."
Read the rest here.

Could a Bloomfield Hills entrepreneur corner the suspender market?

Sometimes old timey is hip. The suspender business is booming for Sal Herman, who puts his money where his mouth is and wears the alternative to belts every day.
"So intense is Herman's devotion to suspenders — and the 1% of the population he says wears suspenders — that he has turned them into an unlikely and thriving business. About 2,400 stores nationwide sell his suspenders.
And he's expecting a record-breaking season on his company's website."
Read the rest here.

Royal Oak sneaker sellers to become stars of Eminem-produced YouTube series

The owners of Royal Oak's Burn Rubber aren't only getting their own Internet program, it's being supported by the Michigan Film Incentive and produced by Detroit native son, Marshall Mathers (aka Eminem).
"Detroit Rubber will follow Rick Williams and Roland “Ro” Coit, owners of the Royal Oak sneaker shop Burn Rubber. In addition to opening a new boutique, called two/eighteen, the show will highlight these Michigan entrepreneurs as they balance family, a growing business and day to day struggles. The show will be released on the premium YouTube channel Loud."
Read the rest here.

Detroit Venture's Josh Linkner calls out Silicon Valley

Former ePrize founder and CEO and local entrepreneurial guru takes a sharp needle to the Silicon Valley's over-inflated bubble and extolls the virtues of growing a company in Detroit.
"Many people think the Valley is the best place to start a digital/tech company. While there have been no shortage of successful start-ups in Silicon Valley, I argue that many of those ventures succeeded in spite of their location. For me, this “best place” logic makes no sense. In the Bay Area, there is more competition for everything – talent, funding, office space, resources, etc.  What kind of investment tip is “buy high, sell high?” As an entrepreneur, it’s difficult enough getting a company off the ground; why make your work any harder than it already is? Give yourself more leeway – pay fewer dollars for higher-grade intellect, make a splash in the media because you’re the big fish, and get the investment community to notice you and the traction you’re making. Why over-pay just to blend in? When you’re swimming in a vast ocean filled with other startups, you need herculean accomplishments to stand out any more than the next guy. Every single day. Good luck with that."

Read the rest here.

Metro Detroit tech entrepreneur says region needs to be more experimental

David Tarver turned a basement business beginning into Telecom Analysis Systems, which was sold in 1995 to multinational British firm Spirent. He's written a book about his business philosphy and will be a speaker at Friday's TEDx Detroit.
"“It’s very appropriate,” Tarver said. “Because there are a lot of needs that you can see in and around Detroit, and a lot of times we get hamstrung addressing those needs and being concerned with whether they’ll be successful or not. What we need is 100,000 experiments.”
Not all of the experiments will be successful in classic terms, he said, but all of them will help point to what should be done next, at the very least helping future generations."
Read the rest here.

Farmington equity firm director writes about cutting-edge tech investment

Jeff Bocan of Farmington's private equity firm Beringea talks about his time at the National Science Foundation's I-Corps, a program at U-M designed to fast-track research from the lab to the real world, and how the government can help foster greater entrepreneurship by funding cutting edge R&D
"I have just completed a tour of duty as a venture capital faculty member at the National Science Foundation's I-Corps (short for NSF's Innovation Corps - a program designed to fast-track research from the lab to the real world), delivered in partnership with the University of Michigan. I-Corps is like the scientific version of PBS' Antiques Roadshow -- NSF-funded technological gems that have largely been tucked away in the labs of America's research institutions are being dusted off, given a heavy dose of commercial polish and have been unearthed to unlock the potential to create a lot of value for the technologists, their universities and society in general."
Read the rest here.

Revealed: What's in White Trash Pie

Here's a fun interview with Nikita Santches, avante garde baker of Rock City Pies, which currently makes its home in Ferndale's Rustbelt Market.
"A semifinalist in the Comerica Hatch Detroit contest, he hopes to win the grand prize of $50,000 and open a brick-and-mortar retail space in the city. Santches would plan to sell sweet and savory creations to hungry customers, as well as distribute the pies wholesale.
The Hatch finalists is determined by public voting through Sept. 18, and a final round of judge and public decision-making at the end of the month will determine the winner."
To discover what's in a White Trash Pie click here.

Grosse Pointe salad joint plans for national expansion

How far can veggies take you? For this GP-based restaurant chain, they're looking to shoot the moon.
"The Big Salad, a chain of restaurants in metro Detroit serving fresh, custom-made salads, healthy and hearty soups and a wide range of sumptuous sandwiches today announced plans to open two new franchises in 2013 with a goal to launch an additional 200 restaurants over the next 10 years."
Read the rest here.

The Atlantic magazine is looking for a few good start-ups

Entrepreneurs and economic development officials, be on the alert for a pair of enterprising reporters from The Atlantic magazine. Beginning next week, they're making a beeline for the Upper Midwest, and Detroit is one of the regions where they're looking to find the region's brightest start-ups.

"This year, we're starting the trip in Chicago and finishing up in Pittsburgh. Call it a Rust Belt Tour, if that's not a pejorative. If you're starting a business along this route (or even near it), we want to hear from you. While we're primarily interested in tech (very broadly construed), interesting entrepreneurs of all types should feel free to get in touch.

And stay tuned because we're working on putting together a few events, so that we can meet as many people as possible.

This year, we want to build maps of the startup scene in each city we visit. That means we want to map not just where startups have their offices, but also where they get coffees and beers and meetings and employees and money."

Read the full story here. And check here for MLive's coverage.

Creativity and entrepreneurship go hand in hand

Intuitively it's kind of a no-brainer: Creativity begets invention which begets entrepreneurial endeavors. Still, it's nice to see Richard Florida put some numbers to the theory. Good numbers.
"The size of the creative class is "positively and significantly associated with the total of establishment growth in a region, the number of new opened establishments and the expansion of existing establishments," they find. Furthermore, they write that “regions of all sizes primarily experience growth through the creation of new establishments, and that growth is always, significantly, and positively associated with regional creative employment."
Read the rest here.

Royal Oak says okay to bikeshaws

With it's vibrant downtown, loft housing options, and ever-growing "sense of place," Royal Oak has been one of metro Detroit's fastest evolving communities. And since it's a mystery as to when rail will ever make it to the Woodward Avenue corridor it was inevitable someone would introduce some alternative transportation. Meet bike taxi service driver Sean Paraventi.


"From Thursday to Sunday, now until the snow gets in the way, Paraventi plans to be out in Royal Oak with his bikeshaw, offering rides. He already has pedaled his way into the hearts of Royal Oak regulars such as Karen Mchugh.

Bikeshaw in Royal Oak "I think it's really comfortable, much more than I thought it would be," Mchugh said. "Sean seems in tune with the safety and watching out for cars and people as well.""

Read / watch the rest here.

Mt Clemens' shop cited for space sharing strategies

Sharing. It's a concept we're all taught in kindergarten but too often forget. For some businesses around the country, however, it's become a smart economic choice.


"Many businesses wind up in space sharing arrangements at a real-estate broker's suggestion. Jennifer Rossi, owner of MINDS Eye Bookstore, a shop selling books about metaphysics and alternative healing, turned to a broker when she wanted space in Mount Clemens, Mich., a community long associated with health and wellness because of its historic mineral baths. She hoped to open near a natural foods store or yoga studio, but ended up in closer quarters than she had expected with a complementary business."

Read the rest here.
157 Entrepreneurship Articles | Page: | Show All
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