DETROIT – The New Economy Initiative, in partnership with The Kauffman Foundation, on May 18 will announce at TechTown an exciting and aggressive initiative to assist regional automotive suppliers and help rapidly grow entrepreneurship in Michigan.

In a state with the highest unemployment rate in the country and further job losses expected, there is a growing pool of unemployed and underemployed businesses and talent. That talent can be activated quickly towards new small business ideas and industries that will not only move people back into the workforce, but potentially pave the way towards future industries that will help diversify and strengthen the state’s economy.

Speakers include David Egner, Interim Executive Director, New Economy Initiative for Southeast Michigan, and Lesa Mitchell, Vice President, Advancing Innovation, The Kauffman Foundation.

WHEN: Monday, May 18, 2009 at 2:00 p.m

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WHERE: TechTown,

440 Burroughs,

Detroit, MI 48202

The New Economy Initiative is one of the nation’s most expansive philanthropic partnerships dedicated to economic transformation in the region hardest hit by manufacturing job loss and the global economic crisis. NEI includes $100 million in funding commitments from the Community Foundation for Southeast Michigan (Detroit), the Max M. and Marjorie S. Fisher Foundation (Southfield, Mich.), the Ford Foundation (New York), the Hudson-Webber Foundation (Detroit), the W.K. Kellogg Foundation (Battle Creek, Mich.), the John S. and James L .Knight Foundation (Miami), The Kresge Foundation (Troy, Mich.), the McGregor Fund (Detroit), the Charles Stewart Mott Foundation (Flint, Mich.), and the Skillman Foundation (Detroit). The 10 participating foundations are leading the implementation and governance of the Initiative. The Community Foundation for Southeast Michigan, which initiated the collaborative, is serving as its administrative home.

The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that works with partners to advance entrepreneurship in America and improve the education of children and youth. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo.

For more information, click on Kauffman.Org

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