Michigan Business Beat | Ned Staebler, TechTown Detroit, Celebrating 20 Years Supporting Businesses

Michigan Business Network

Originally uploaded April 1st, Re-edited April 20th. Chris Holman welcomes back Ned Staebler, VP Economic Development Wayne St. University and President / CEO TechTown Detroit , Detroit, MI. Ned talks about key data points, equitable impact, growth. Ned talks about Hatch Detroit contest, our involvement in NFL Draft prep, Small Business Support Hubs expansion ... and end with a nod to "and tech entrepreneurship is equally important – MedHealth summit, SXSW founders, etc." Ned references the investiture and how TechTown fits into the prosperity agenda, talk about GS10KSB success, the economic impact strategy, the innovation district Ned provides an entrepreneur call-to-action (strategy session) and a broader call-to-action (come check out our space and some of our entrepreneurs at the upcoming Hatch events) The 20th Anniversary logo marries TechTown and Wayne State branding elements into the design. TechTown Detroit’s blue logo is embedded in the zero of “20” above the word “years” and the launch and anniversary dates. This is then encircled by a gold ring with inner green ring and Wayne State’s “W” shield centered at the bottom. “TechTown’s 20th anniversary represents a significant milestone in Wayne State’s efforts to drive economic prosperity and foster innovation in Detroit,” said WSU President Dr. Kimberly Andrews Espy. “Guided by the pillars of our Prosperity Agenda, which prioritizes accelerating mobility for our students and fueling innovation for our competitiveness, TechTown is Wayne State’s innovation hub for 21st century commerce that will continue to be transformative for our students and community.” Originally founded by Wayne State University, Henry Ford Health and General Motors to support tech-based spinoffs from the university, TechTown expanded its incubation and acceleration strategies to strengthen small businesses and tech entrepreneurs across Wayne County. Since its inception, TechTown has supported more than 6,000 businesses in and around Detroit. These businesses have created more than 2,300 jobs and raised more than $408 million in startup and growth capital. In 2023 alone, TechTown supported more than 900 businesses and 1,000 entrepreneurs, who raised more than $23 million in startup and growth capital and started 26 new businesses. Moreover, TechTown is committed to uplifting and embracing the diversity of Detroit and the region. Of the 1,000-plus entrepreneurs supported last year, 63% identified as Black or African American, 65% used she/her pronouns and 11% were immigrants to the U.S. TechTown collaborates closely with Wayne State’s Office of Economic Development (OED) to elevate local businesses and catalyze business growth across the Detroit region. An example of this aligned work is the Goldman Sachs 10,000 Small Businesses program (GS10KSB). Team members from both TechTown and OED mentor and support entrepreneurs during each cohort of GS10KSB and after they graduate. “TechTown is incredibly proud of the work we’ve done to strengthen Detroit’s neighborhood small businesses and commercial corridors over the last 20 years. And with President Kimberly Andrews Espy at the helm of Wayne State University, we know that our shared mission of driving equitable economic impact in the city is stronger than ever,” says Ned Staebler, vice president for economic development at Wayne State University and president and CEO of TechTown Detroit. “This new anniversary badge is a way for us to visually celebrate the alignment between TechTown and Wayne State, and we look forward to many more milestones acknowledging our collective work.” » Visit MBN website: www.michiganbusinessnetwork.com/ » Watch MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/