TechTown Detroit – Business Innovation Incubator

A business innovation incubator in Detroit called TechTown Detroit is finding that there is great interest from start-ups seeking space there.

Start-up activity nationally and specially in Detroit,  seems to be building up strength even though the economy isn’t booming now.

Over 500,000 businesses were launched nationally each month last year, which is the highest level since 2009 and 2010.

Organizations backed by public money are seeking more ways to endorse small-business start-ups to drive economic expansion and produce jobs.

In Michigan and metro Detroit, where the recession cut deep, entrepreneur support groups and networks also have emerged.

A lot of entrepreneurial activity is being noticed as a result to the fact that it’s easier now than it ever has been,” said Alex Southern, an organizer with nonprofit Grow Detroit. ”

Detroit is not an area that has actually fostered much entrepreneurial activity in the past few decades as the middle class was booming due to the automotive industry. Native Michiganders are having to be more innovative about what industries they invest into, where they put their money.

KEY TAKEAWAYS:

• The interest is so intense from start-ups seeking space there that the organization may need to find more to squeeze them all in.
• Entrepreneurs now are more likely to form a business based on a viable idea, increasing the chances the ventures will be successful and longer-lasting.
• In Michigan and metro Detroit, where the recession cut deep, entrepreneur support groups and networks also have emerged

“Detroit is coming back from such a place that it was in a few years ago that I think the excitement level and opportunity, while it’s similar to the rest of the country, is even greater,” Gouvia said. “There’s so much to be done. There’s a lot of opportunity here.”

Original Source:

http://www.freep.com/story/money/business/michigan/2016/08/29/start-ups-surge-detroit-us-sluggish-economy/89532114/