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

Michigan Business Beat
April 22, 2024 10:00 AM

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Chris Holman welcomes back Ned Staebler, VP Economic Development Wayne St. University and President / CEO TechTown Detroit , Detroit, MI.
Watch Ned and Chris discuss his time with TechTown, the 20th anniversary for the organization and some highlights of how they are serving entrepreneurs of Southeastern Michigan, in the YouTube video shared below:

Chris had several questions for Ned:
TechTown is celebrating a big anniversary this year. Looking back on the organization's 20 years in existence, what are you proud of?

Ned talks about key data points, equitable impact, growth.

By the name, people might assume that TechTown is focused exclusively on tech, but you also support neighborhood small businesses. What are some examples of that work?

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."

I know TechTown was originally founded by Wayne State. Tell us more about how TechTown and the university are connected now?

Ned references the investiture and how TechTown fits into the prosperity agenda, talk about GS10KSB success, the economic impact strategy, the innovation district

It sounds like an exciting time to be at TechTown. How can the community get involved?

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)

TechTown shared some further information about the Twentieth Anniversary:

TechTown Detroit marks 20th Anniversary and celebrates relationship with Wayne State University by unveiling new logo

Anniversary badge emphasizes TechTown’s founding within the university as its entrepreneurship hub

TechTown Detroit (TechTown) is celebrating 20 years since it officially opened its headquarters by releasing a special anniversary logo emphasizing its founding roots within Wayne State University (Wayne State) and its current alignment with the university.

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.

Following this anniversary year, the entrepreneurship hub will launch an updated brand that reflects the future vision for the organization.

“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.”

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Michigan Business Beat, hosted by Chris Holman, discusses economic development, new or unusual entrepreneurial initiatives, and successful business practices from different regions and industries around Michigan with a wide range of entrepreneurs and business leaders.

8:00 AM every Monday through Friday
Replay: 8:00 AM, 2:00 PM, 8:00 PM, 2:00 AM The music for 'Michigan Business Beat' is graciously shared use of Phil Denny's "Traffic Jam" off his 2012 CD 'Crossover'

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