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Tuesday, December 22, 2009

O/T: TechTown eNewsletter December 2009

TechTown - New Economy News
TechTown - Where minds and means connect.
December 09 Newsletter Volume 2, Edition 9

Season's greetings from TechTown

TechTown extends warm greetings to you, your colleagues, friends and family during this holiday season. We are thankful for the opportunity to support so many companies in this year of exciting growth and eagerly anticipate another year of encouraging entrepreneurship in Detroit. We wish you a very prosperous new year and look forward to serving you in 2010.

TechTown forges new funding partnership aimed at retaining Jewish entrepreneurs

TechTown is proud to announce a new partnership with Hebrew Free Loan, a private community organization with a 115-year history of providing interest-free loans to assist Jewish individuals in need.

HFL has pledged a starting pool of $300,000 to begin issuing short-term loans to Jewish entrepreneurs committed to remaining in Southeast Michigan. As Detroit's largest and fastest-growing small business incubator, TechTown will be responsible for identifying loan candidates who have viable business ideas, have successfully completed a TechTown FastTrac program, or are currently enrolled in TechTown's two-year SmartStart business accelerator program.

TechTown seals the deal on new digs

Former Dalgleish Cadillac building on Cass to become TechTwo

TechTown is expecting something slightly unusual under the tree this holiday season: a 130,000-square-foot former Cadillac plant destined to be its next business incubator facility.

Wayne State University has purchased the former Dalgleish Cadillac building at Cass Avenue and Amsterdam in the 43-acre TechTown research park for $1 million, pending a mandatory environmental review. The building was constructed in 1902 as the first Cadillac plant, and the Dalgleish family has been selling Cadillacs there since 1964.

Kick your startup into high gear in the new year

Apply for SmartStart by January 15

The SmartStart business accelerator program is accepting applications through Friday, January 15 for innovative startup companies seeking revenue growth and profitability in the new year. Companies that are admitted into the program are eligible to receive small business loans, along with a myriad of other business support services including one-on-one coaching, mentoring, practical education, access to investors and much more.

Growing pains, plans and perks

Henry Argasinski discusses the challenges of managing Michigan's largest business incubator facility plus upcoming expansion plans for the park

In our featured podcast of the month, TechTown Real Estate and Facilities Manager Henry Argasinski discusses some of the technical challenges of converting an old car factory into a mixed-use business and medical building.

Argasinski also talks with us about a problem he faces that is unique among property managers in Michigan these days: skyrocketing demand for office space but scant slots to assign  prospective new tenants.  With 160 tenants, more than any other incubator in Michigan, TechTown has become a victim of its own success and has temporarily run out of available offices and cubicles.

TechTown adds three additional entrepreneurs to SmartStart staff

Three more experienced entrepreneurs recently joined the SmartStart team as business coaches for startup companies, Vita Merlotti, Linda Jiminez and Steven Bessonny. As support leaders for the SmartStart business accelerator program, they will use their experience and knowledge to help new entrepreneurs meet milestones on the path to maximum revenue growth.

Innovation in Israel, even at the dining table

The latest from Randal's Detroit blog

I had wanted to do it ever since I was a kid.

But when I was young my elders stopped me. "You can't have dessert until you have finished your meat and potatoes, they would say without further explanation. When I grew older I would occasionally see enticing signs like "Life if short. Eat dessert first."

Kauffman's Urban Entrepreneur Partnership Detroit 150 announces its first class for the entrepreneurial minority auto supplier retooling program

Ten of Detroit's leading minority auto suppliers, representing approximately $2 billion in revenues and employing more than 2,000 Michigan residents, have been chosen for the first class of the UEP Detroit 150-a program of the Kauffman Foundation that recently opened an office in TechTown. This $3 million, 3-year endeavor is designed to retool minority industry leaders who have been impacted by the turbulent economic environment in the automotive industry. Those invited to participate in the UEP Detroit 150 will receive one-to-one coaching. They will also be connected to leading executives who will provide retooling opportunities in other industries, including aerospace, alternative energy, medical devices, military, and homeland security.

Thanks to Nie Edwards' "angel investors"

TechTown would like to thank the many generous people who contributed to the Nie Elizabeth Edwards trust fund. These "angel investors" succeeded in raising approximately $1,700 to help secure the future of young Nie, a toddler orphaned after her father and mother were killed in a car accident in October.

TechTown tips its hat to 2010 with upcoming changes to First Friday

Help TechTown tip its hat to the new year by networking with one of Detroit's largest, most diverse communities of entrepreneurs, investors, mentors and service providers on Friday, January 15, 2010 from 4 to 6 p.m.

Faith-Based Business Forum
Sponsored by Corp! Magazine
January 12, 2010
from 9:00 to 10:30 a.m.

Leaders of small to mid-sized places of worship and nonprofits in Detroit are welcome to attend this free seminar to learn better business practices.

Click here for more information.

Annual Collaboration for Entrepreneurship

January 21, 2010
from 4 to 9 p.m.

The Annual Collaboration for Entrepreneurship is the place where Great Lakes region entrepreneurs gather to network, learn and connect.

Click here for more information.

Ticket to the FastTrac
Sponsored by FastTrac to the Future
January 25, 2010
from 3 to 6 p.m.

Entrepreneurs, mark your calendars! TechTown is opening its doors to give entrepreneurs an opportunity to meet with advisors who help them select and enroll in the program best suited for their business goals.

Click here for more information.

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© 2009 TechTown

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