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Today: May 28, 2024
December 21, 2023
1 min read

Detroit’s startup scene booms, leaving behind its company town past.

The startup scene in Michigan is gaining momentum, challenging the perception that tech startups can only thrive on the east or west coast, according to an article in the Detroit Free Press. Such innovators as Jordan Craven, who is developing a 3D virtual fitting room, and Rourke Sylvain, who is developing a wearable device that monitors various bodily functions, plan to remain in Michigan. The shift is down to more incubators opening across the state, changing attitudes towards startups within large companies and the effects of the Great Recession, which led to more individuals starting their own businesses.

Detroit has been identified as an “emerging tech hub” and is now attracting attention from around the US. But there are challenges for Michigan’s start-up community, such as a lack of access to capital. Innovative projects in the early stages often find it more difficult to secure $200,000 than a more established firm may experience in securing $5m.

However, entrepreneurs like Craven highlight a strong sense of community among start-ups, which sets Michigan apart from tech hubs in Boston, Massachusetts, or Silicon Valley.

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