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Our Blog

2.11.13 TechTown and partners receive $1 million grant to launch Detroit Technology Exchange

Big news, folks: TechTown and its partners, Bizdom and Invest Detroit, were awarded a grant for $1 million over two years from the Michigan Economic Development Corp.’s (MEDC) Michigan Strategic Fund to form the Detroit Technology Exchange (DTX).  

The initiative’s four programs include a 10-week summer boot camp to help college students learn how to launch tech-based companies and an executive-in-residence program to bring experienced entrepreneurs to Detroit who will help mine underdeveloped intellectual property to create companies.

Our conservative estimates for the grant term show the programs creating 15 new companies and 25 new jobs, as well as retaining 35 jobs and generating $881,000 in new investment. Exciting times!