OED leads and is a partner in several initiatives to support, launch and grow small businesses on campus, in Midtown and across the city, region and state.
Goldman Sachs 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is an intensive education and coaching program for second-stage small businesses that are poised for significant growth. To date, nearly 600 small business owners from across Michigan have graduated from the program. Approximately 70 percent of these businesses increased revenues after completing the program and 45 percent created new jobs.
WSU Innovation Studio
OED's Blackstone Launchpad and Innovation Studio helped launch nearly 200 revenue-generating businesses between 2011 and 2020. Today, the Innovation Studio is led by WSU's Office of Business Innovation. Located at the Industry Innovation Center, the studio helps students develop projects and business ventures, and connect with the experiences and resources they will need to succeed in a 21st-century workforce.
TechTown is Detroit's entrepreneurship hub, providing resources, collaborative workspace and education for startups and neighborhood small businesses. Founded in 2000 by Wayne State, Henry Ford Health System and General Motors, TechTown became a nonprofit in 2004 and remains closely affiliated with the university. Since 2007, TechTown has supported more than 3,000 companies, who created over 2,000 jobs and raised more than $168 million in capital.
Supporting Neighborhood Small Business
OED led several initiatives to connect the campus community to neighborhood small businesses, including the Midtown Deals and Discounts guide, Show Your One Card & Save, the Detroit Zone at FestiFall and the Winter Art and Retail Market at Noel Night. Since 2014, 178 small businesses and nonprofits have opened or expanded in Midtown.