DETROIT ? TechTwo, a former Cadillac dealership, will be renovated as incubator space courtesy an $800,000 grant from The Kresge Foundation.
The grant allocates up to $650,000 for renovating the former Dalgleish Cadillac building at 6160 Cass Ave. TechTown has a waiting list of entrepreneurs seeking office space and cubicles for lease, and other startup support services, which will be accommodated by TechTwo.
TechOne, a former Chevrolet engineering building at 440 Burroughs St. and TechTown’s first business incubator, is full. TechTown received a $1.5 million grant from The Kresge Foundation in December 2007 to support TechOne?s renovation.
“The Kresge Foundation?s generous grant will help TechTown scale its operations and facilities to support as many Detroit entrepreneurs as possible,” said Randal Charlton, TechTown executive director. “Kresge recognizes that entrepreneurship is an essential part of the economic turnaround of this region, and they see that the work we do here at TechTown plays a critical role in helping Detroit build a new economy.”
TechTown is a key partner in a three-year entrepreneurship initiative funded by the New Economy Initiative with the support of the Kansas City-based Ewing Marion Kauffman Foundation. The initiative provides entrepreneurial training programs like the Kauffman-designed FastTrac courses to encourage budding entrepreneurs in Southeast Michigan with the aim of creating 1,200 sustainable startup businesses. The Kresge Foundation is one of the 10 foundations that contributed to the creation of the New Economy Initiative.
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