Time is running out for entrepreneurs to submit their business plans for the 2012 Comerica Hatch Detroit retail business competition before the August 1 deadline. The contest is open to anyone with an idea for opening a retail business within the City of Detroit. All applications must be submitted online at www.hatchdetroit.com by August 1, 2012, at 11:59 p.m. EDT.

Hatch will narrow down the applications received to ten semi-finalists and then the public will vote for their favorite retail business idea. The winning entrepreneur will receive a $50,000 cash prize courtesy of Comerica Bank to help ‘hatch’ the business. The winner will also receive a package of services including, legal, marketing and advertising, and IT support.

“The response to this year’s competition has been outstanding so far,” said Ted Balowski, co-founder of Hatch Detroit. “We’re on track to surpass the number of submissions received last year, and we’re optimistic that we’ll receive additional quality business plans as the application period comes to an end.”

“Detroit is becoming a stomping ground for innovative entrepreneurs who want to be a part of the city’s resurgence,” said Thomas D. Ogden, president, Comerica Bank-Michigan. “The Comerica Hatch Detroit contest will give one of them the opportunity to make their retail idea a reality in Detroit.”

To submit a business plan, applicants must provide a summary that describes their business idea and its potential impact on Detroit, as well as background for each team member. For complete submission guidelines and contest rules, visit www.hatchdetroit.com.


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