Hatch Detroit is back with Comerica Bank as a sponsor for this year’s contest. The deadline for submitting Detroit’s best retail business idea is August 1. The winner will receive $50,000 in addition to marketing, accounting and legal support.
Nick Gorga and Ted Balowski founded Hatch Detroit in 2011 to help launch independent retail businesses in Detroit. The contest attracted over 220 applicants before Joe Posch’s HUGH was selected as the inaugural winner. Once a pop-up store, HUGH will open at its permanent location this fall at The Auburn, a new mixed-use development located at Cass and Canfield.
Requirements are simple. To be eligible, ideas must be “brick and mortar” retail establishments that sell products, goods, and services. Submission should include an executive summary, no longer than two pages, detailing your vision for Detroit and describing how your business would positively impact and engage the surrounding community. Don’t forget to include how you would use the prize money!
After the submission deadline, a team of experts will whittle the field to ten. These semi-finalists will then rely on their creativity, social networks and ingenuity to promote their idea and garner votes. The top four vote-getters will move on to the Hatch-Off where a panel of local business leaders will question the finalists before selecting the winner.
The winner will be announced by October. So, what are you waiting for? The next HUGH could be YOU!