DETROIT, Nov. 2, 2015 /PRNewswire/ -- New Economy Initiative (NEI), a special project of the Community Foundation for Southeast Michigan (CFSEM), officially announced today the 30 small businesses from across Detroit, Hamtramck and Highland Park that were selected to win the $10k challenge during the second annual return of NEIdeas: Rewarding Ideas for Business Growth. The 30 winning businesses will each receive $10,000 awards for a total of $300,000 at a private award celebration this evening.
NEI launched NEIdeas in May 2014 to celebrate existing businesses in Detroit, Hamtramck and Highland Park and reward those with the best ideas for business growth. This was the second year of the two-tiered challenge which has given over $1 million in cash rewards and was open to small businesses at least three years or older. The two types of awards included: $10,000 for 30 businesses grossing under $750,000 annually and $100,000 for two businesses that gross between $750,000 and $5 million annually. The $100k challenge winners will be announced in December.
"We saw many great success stories from the first NEIdeas in 2014, from the hiring of new employees, to building improvements and increased service offerings, which all provide a critical boost for these economic drivers in our community," said David O. Egner, NEI Executive Director. "We were thrilled to see the diverse range of ideas and businesses that came from this year's NEIdeas applicants and can't wait to see their businesses grow and the ripple effect it will have on Detroit's neighborhoods and economy."
"Detroit's turnaround won't mean anything if longtime Detroiters aren't a part of it," said Mayor Mike Duggan. "Thanks to the New Economy Initiative's efforts to support small businesses in our city, we are seeing real growth in business expansion and job creation."
NEIdeas was operated in partnership with the Detroit Economic Growth Corporation (DEGC). DEGC participated in the jury process and lead an outreach program that featured more than two dozen "Ambassador" organizations and institutions throughout all three cities, providing small businesses with information and guidance throughout the application process.
"Over the past two years, NEIdeas has given us the opportunity to connect with more than 1,100 small businesses in the city," said Rodrick T. Miller, president & CEO, Detroit Economic Growth Corporation. "NEIdeas, with its focus on existing businesses is a critical piece of Detroit's small business support system. This system is essential in helping every Detroiter participate in our economic expansion."
The 30 NEIdeas $10k challenge winners represent the innovation and ingenuity of Detroit's small business market. NEIdeas narrowed down the applicant pool from more than 500 applicants to a select group of semifinalists. A jury comprised of empathetic entrepreneurs, small business leaders, non-profit partners and corporate partners recommended the final winners based on strict criteria including: growth opportunity, businesses' history and mission, neighborhood impact and good financial standing.
2015 NEIdeas $10k Challenge Winners Include*:
Anew Life Prosthetics and Orthotics – Custom Prosthetics and Orthotics - Detroit
Astro Coffee LLC – Coffee Shop - Detroit.
Benkari LLC – Plumbing Contractor - Detroit
Black Pride Beauty – Hair Weave and Extensions Manufacturer - Detroit
Blessed and Highly Favored Juice Bar – Specialty Beverage Shop - Detroit
Brooklynn Brownies with Love – Bakery – Detroit
Building Hugger – Design-Build Contracting Firm - Detroit
Cyberoptix – Custom Silkscreened Clothing - Detroit
DAC Marketing (DBA Crescent PreNeed Funeral Services) – Muslim Funeral Services - Detroit
Detroit Denim Co., - Men's Clothing Manufacturer - Detroit
Detroit Farm and Garden - Landscape Retail Facility - Detroit
Detroit Vegan Soul – Restaurant - Detroit
Fill Good Dental Center – Dental Practice – Detroit
Goodwells Natural Foods Market – Organic Food Market - Detroit
Guerrilla Food – Catering and Pop-Up Food Business - Detroit
JP's Hand Car Wash and Detailing Center – Auto Wash and Detail Shop - Detroit.
Livingston Family Dentistry – Dental Practice - Highland Park, MI
Motor City Popcorn – Gourmet Popcorn - Detroit
Ocelot Print Shop – Community Screen Print Shop - Detroit
Pot & Box – Floral Design & Decor – Hamtramck, MI
Prop Art Studio – Industrial/Commercial Art Studio - Detroit
Sha-Sha's Kiddy Korner – Child Care - Detroit
Singing Tree Garden – Urban Farm and Tree Care - Detroit
Tamaleria Nuevo Leon – Handmade Tamales - Detroit
Textures by Nefertiti – Full Service Salon - Detroit
The Hub of Detroit – Bike Repair Shop - Detroit
The Kid Network Daycare, LLC – Child Care and Development Facility - Detroit
The Social Club Grooming Co. – Barbershop and Community Space - Detroit
White One Auto – Automotive Service – Detroit
*The 30th NEIdeas: $10k Challenge winner will be announced in the coming weeks.
For more information on each winning business, please visit www.neideasdetroit.org.
About New Economy Initiative
SOURCE New Economy Initiative