Mayor Sheffield, the Detroit Economic Growth Corporation and startup ecosystem leaders announced this week Round 2 applications of the Detroit Startup Fund are now open, continuing a commitment to building the City of Detroit's innovation economy.

The announcement comes as Detroit builds upon its reputation as an emerging startup hub, according to Startup Genome’s 2022 Global Startup Ecosystem Report.

Round 2 of the Detroit Startup Fund will distribute $300,000 in grants to 13 tech startups focused on innovations that improve the quality of life for Detroiters.

Last year, the first round demonstrated strong demand, attracting over 150 applications from across the metro area. Eleven of the 13 first recipients are Detroit residents, with companies building solutions in biotech, AI, environmental tech, fintech, and other emerging industries.

Second round applications are now open at Detroitmi.gov/startup and closes on March 2. Applications require detailed business plans and clear deployment strategies for grant funds.

To be eligible for the Detroit Startup Fund, businesses must meet the following four criteria:

• Detroit-based startup or founder building in Detroit that has been established no more than 10 years
• Scalable, venture backable company with a product or service that has potential for civic use, improves quality of life for Detroit residents, and/or enhances the delivery of city services or operations
• Commitment to becoming certified with the City as a Detroit-based business
• Commitment to sharing progress and outcome data with DEGC and City of Detroit

Watch the Detroit Startup Fund Round 2 launch here.