Start up companies in Detroit are seeing quite a bit of attention, and in some cases, are getting help with start-up costs. One of the organizations committed to funding for start-ups, New Economy Initiative, is now also funding businesses that have been an anchor for neighborhoods in Detroit, Hamtramck and Highland Park. The New Economy Initiative started with 10 foundations committing $100 million to help local business innovation. So far, NEI has spent $88 million dollars on 1200 start up companies that have created 12,000 jobs. Now NEI is spending money to assist anchor businesses. The competition is called NEIdeas. The first phase offered help to 30 anchor businesses with $10,000 in funding. The contest brought in 600 applications. WDET Associate Producer David Schwartz recently spoke with NEI Executive Director Dave Egnerabout the second phase of the NEIdea’s competition.

Listen to the interview here.