First, what is DTX Launch Detroit? It is a program of the Detroit Technology Exchange (DTX), a programmatic partnership between TechTown Detroit, Bizdom, Invest Detroit, the Detroit Creative Corridor Center (DC3), Henry Ford Innovation Institute, Next Energy and TechStars Mobility-Driven by Detroit. DTX, supported by MEDC’s Michigan Strategic Fund and the New Economy Initiative, is designed to recruit and groom talent for tech entrepreneurship opportunities for Detroit-based startups.
DTX Launch Detroit is a 10-week summer accelerator for college students and recent graduates aspiring to launch a tech-based/tech-enabled startup. In its third year, the 2015 Launch Detroit application is live; more information and a link can be found at http://techtowndetroit.org/entrepreneur/labs/launch-detroit/. Participants will receive a stipend of $2,500 per individual (up to $7,500 per venture team) to test out their entrepreneurial dreams.
This year, there is a new option for selected teams: For those teams that wish to participate but do not have a well-formulated business idea, the DTX partners have been soliciting project ideas/technologies from industry partners. These projects are of known significance, provide the opportunity to work directly with an industry adviser, and offer the possibility of employment with the industry sponsor.
From the very beginning NEF has been supporting the program with pitch instruction and coaching. Some student graduates have gone on for further coaching at NEF and have even had a turn in the Pitch Pit. Launch Detroit culminates with a public showcase, giving participants the opportunity to make that polished pitch to potential partners, advisors and investors.