(CBS DETROIT) - Entrepreneurs seeking to open a brick-and-mortar in Detroit, Hamtramck or Highland Park will have a chance to win $100,000 in the Comerica Hatch Detroit Contest.
Comerica Bank and TechTown Detroit announced on Tuesday the return of the contest, which promotes small business economic development. Officials say entrepreneurs can submit their business plans through Feb. 21 via the contest's website. The winner will be announced in spring.
"This community contest helps bring the dream of an aspiring business owner closer to reality and serves as a vital resource for these budding entrepreneurs," Steve Davis, Comerica Bank Michigan Market president, said in a press release.
Officials say the contest will include two rounds of public voting for the top 10 and top four. On April 26, the top four will present their business plans before a live audience during the annual Hatch Off event.
New this year, voting for the top four will be live during the event, and the winner will be announced.
Last year's winner was Ameneh Marhaba, who is the owner and chef of Little Liberia, an afro-fusion pop-up restuarant.
"Hatch Detroit has left a lasting impact on Detroit's economic revitalization by bolstering the entrepreneurial spirit, rewarding innovation and promoting small business development," Davis said. "Through our partnership with TechTown, we are proud to assist local entrepreneurs access the capital and technical assistance needed to take their small business to the next level and thrive."
Two virtual information sessions will be held on Feb. 2 and 9. For information and to sign up for the sessions, visit hatchdetroit.com.
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