VIDEO: Stories from the new economy - NEIdeas, rewarding ideas for business growth

NEIdeas is a program that celebrates existing businesses in Detroit, Hamtramck, and Highland Park -- rewarding those with the best ideas for growth. NEIdeas will reward a total of $500,000 in cash awards to over 30 existing businesses in 2014.

NEIdeas has two types of awards, the $10k Challenge and the $100k Challenge. But the program is about more than just the money. NEIdeas is about connecting small businesses to the resources they need to grow. Over 54 small business support organizations in the City of Detroit are ready to help make idea a reality.

What’s your idea? Maybe it’s as ambitious as Berry Gordy’s Motown or maybe it’s as simple as one more barbershop chair. Whether you sell records or cut hair, bake bread or brew coffee, fix cars or build computers, sometimes you just need an extra hand to grow.

NEIdeas began accepting applications on May 8th.

NEIdeas is a program of the New Economy Initiative (NEI) and the Community Foundation for Southeast Michigan (CFSEM), operated with assistance from Detroit Economic Growth Corporation (DEGC).

NEIdeas: Rewarding Ideas for Business Growth is made possible through the support of foundations and corporations. Funders to date include:

Community Foundation for Southeast Michigan (Detroit)
Max M. and Marjorie S. Fisher Foundation (Southfield)
Ford Foundation (New York)
Hudson-Webber Foundation (Detroit)
W.K. Kellogg Foundation (Detroit)
John S. and James L. Knight Foundation (Miami)
The Kresge Foundation (Troy)
McGregor Fund (Detroit)
Charles Stewart Mott Foundation (Flint)
Skillman Foundation (Detroit)
The William Davidson Foundation (Troy)

To learn more, visit www.NEIdeasDetroit.org.