Make it
Your
Business

ECONOMY POWERED BY IDEAS

At NEI we are changing the face of our future by helping make thousands of ideas become the next economic engine. Granting. Convening. Changing a culture. All while getting the entrepreneurs and small businesses that will drive it, what they need, when they need it.

$500,000 in cash awards.
32 existing businesses.
Detroit. Hamtramck. Highland Park.

Berry Gordy was a business man who knew a good song when he heard one. But even with success, he wondered, “Why write songs for a company in New York only to be paid pennies on the dollar in royalties?” He had a bigger idea: bottle a sound, polish it up, and package it for the world under one roof in Detroit. Gordy just needed a little nudge and, in 1959, he got one. An $800 loan from his family (the equivalent of $6,400 today) helped Gordy build Motown Records and grow a legacy.

So, what’s your idea?

How does it work? Simple. You provide the idea, in two-hundred words. We provide the money to make it happen. NEIdeas will award a total of $500,000 through the below two types of awards. Entry for applications opens on May 8th.

News

Tom Walsh: $500K contest gives real jolt, not just lip service, to Detroit small-business owners

What would you do, as proprietor of a very small business, if somebody dropped $10,000 on you that you wouldn’t have to pay back? Alicia George, co-owner of Motor City Java & Tea House with two partners, didn’t hesitate Wednesday when I asked her the question. “We would buy more equipment, blenders and coolers, maybe hire a part-time person to help expand our off-site catering,” she said, envisioning her 4-year-old... More...

NEI Stories

Henry Ford Innovation Institute

Henry Ford Innovation Institute occupies a magnificent space in the heart of Henry Ford Health... More...

First Step Fund

The First Step Fund, a revolving loan pool for emerging small businesses located in Southeast... More...

Events

Crain’s: Small-business program to award $500,000 in Detroit, Highland Park, Hamtramck

Jan 1, 1970 ,

And they say there’s no such thing as free money. This morning, the New Economy... Learn More...