Detroit Tuesday Rocket companies (NYSE: RKT), home to the largest retail mortgage lender Quicken Loans, has announced the finalists for its fifth annual entrepreneurship competition. Detroit Demonstration Day…
What’s happened: Rocket Mortgage, as part of efforts to spur innovation and entrepreneurship in Detroit, launched Demo Day 5, an annual pitch competition that invests in the city’s growing entrepreneurial ecosystem.
Fifteen finalists were selected by current Detroit entrepreneurs and past Detroit Demo Day winners; This year’s 15 finalists include 12 black-owned businesses and more than half of the finalists are women.
Every finalist who starts, rolls out, or expands their business will receive a minimum of $ 25,000. In addition, through a new category of youth, young entrepreneurs between the ages of 8 and 18 will be provided with the capital and resources for early success.
Suggested categories and associated finalists include the following:
Start: New businesses.
Pivot: Companies looking to meet current needs.
Scale: Companies with unique models or products that will enable their business to expand after COVID-19.
Youth: those businesses run by young entrepreneurs.
- Camani – Artistic and luxury fashion
- MT Customs LLC – Individual design
- Anansee – Storytelling Assistance
- CEO of Global Kid Media – Telling stories of the next generation
- Carter’s Concessions – Healthy Snacks
In a statement, Laura Grannemann, Vice President of Rocket Community Fund, said: “The Rocket Mortgage Detroit Demo Day represents our commitment to developing the Detroit entrepreneurial ecosystem and creating community wealth.
“Access to fair capital is more important than ever. Providing all finalists with significant grants allows them to invest in their future and sets them on the path to success. ”
Bonus: Finalists will also compete for the People’s Choice grant in their category worth $ 25,000.
online vote will open on 20 September and winners will be announced during the event.
Why is it important: Rocket, along with a family of companies, is credited with providing the local community with a building platform.
This year’s Demo Day event reflects the company’s commitment to heritage and influence.
“At this year’s Detroit Demo Day, we are delighted to celebrate a new cohort of winners and reflect on the impact of this work over the past five years,” said James Feegin, director of entrepreneurship at Rocket Community Fund.
“Detroit has outstanding entrepreneurial talent and we are grateful that this platform was able to lift them and help them take their business to the next level.”
To learn more about the Rocket Mortgage Detroit Demo Day, Click here…
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.