Can Tech Start Ups Save Detroit?
A budding technology industry is making Detroit a small Silicon Valley, replete with dense office space and access to a growing community of entrepreneurial expertise.
What's the Latest Development?
During a start up weekend held recently in downtown Detroit, the 120 places allotted for participants quickly ran out. The event, which sought to connect entrepreneurs with venture capitalists, is part of a new groundwork being laid in Detroit, encouraging the growth of innovative communities and local businesses. The heart of the beast is known as M@dison Building, "a modern five-story start-up Mecca that is home to several VC firms and many of their portfolio companies." The project also aims to renovate the city's downtown.
What's the Big Idea?
M@dison Building is the brainchild of Dan Gilbert, the founder of Quicken Loans who has been buying property, seeding ventures and moving Quicken employees to downtown Detroit. His passion for revitalizing the city has given rise to Webward Avenue, a nickname for Woodward Avenue where M@dison Building sits. "Clumping together in the start-up zone of Webward Avenue means two things to Detroit's entrepreneurs: For one, business is easier to do when you can just pop a few doors over to talk to your graphic designer or engineer."
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