As the technology industry continues to grow within the city of Detroit, entrepreneurs see huge potential in the ecosystem that has developed for start-ups and new business. An ecosystem refers to the network of individuals, organizations, or institutions that help foster the growth and success of start-up businesses in a specific area. The Metro Detroit area provides entrepreneurs in technology fields with a large number of organizations to turn to for guidance such as Ann Arbor Spark, Bizdom, TechTown, and Automation Alley (to name a few).
For our last team challenge, the fellows were tasked with analyzing the current entrepreneurial ecosystem for the Metro Detroit region and coming up with unique recommendations to address any gaps or obstacles that exist. Fellows were broken up into four teams covering a range of technology based industries from healthcare to advanced manufacturing. To complete the research, fellows interviewed entrepreneurs in the area in order to better understand how the ecosystem works and opportunities for improvement. These interviews were essential to gaining first hand knowledge of the pain points for technology entrepreneurs looking to begin their business in Detroit. The fellows also did research on the thriving entrepreneurial ecosystems of cities across the globe. The unique elements discovered in these ecosystems are examples Detroit can certainly learn from.
After conducting their research, the fellows compiled their visions for Metro Detroit’s ideal ecosystem. All believed that collaboration, innovation, and communication were needed across private and public sectors to facilitate an ecosystem that provides technology entrepreneurs with the tools and knowledge they need to succeed. As the final challenge of Challenge Detroit’s inaugural year comes to an end, it is hoped that TechTown was inspired by the ecosystem visions of 30 different Detroiters, who all have the same mission: to help make the city a great place to live, work, play and give.
Contributed by fellows Irene Crile and Marlo Staples