DETROIT – Applications are now open for Wayne State?s TechTown program called DTX Launch Detroit, a 10-week summer accelerator for college students and recent graduates aspiring to launch a technology start-up. Participants will receive a stipend of $2,500 per individual (up to $7,500 per venture team) to test out their entrepreneurial dreams.
DTX Launch Detroit is a program of the Detroit Technology Exchange (DTX), a programmatic partnership between TechTown Detroit, Bizdom, Invest Detroit, the Detroit Creative Corridor Center, the Henry Ford Innovation Institute, NextEnergy, and TechStars Mobility ? Driven by Detroit, is designed to recruit and groom talent for tech entrepreneurship opportunities and convert innovative technologies into Detroit-based startups. It is supported by the Michigan Economic Development Corp.?s Michigan Strategic Fund and the New Economy Initiative for Southeast Michigan.
The program covers
Searching for a business model
Finding the right product/market fit
Acquisition of necessary resources
Obtaining first customers
Developing a funding strategy
Launch Detroit?s curriculum is based on The Startup Owner?s Manual, a step-by-step business development guide written by famed serial entrepreneurs Steve Blank and Bob Dorf. Enrolled teams will be given extensive assignments in preparation for weekly workshops. They also will be directed to get out of the building and talk to potential customers to test their various hypotheses. The curriculum is augmented with business coaches and mentors, as teams attempt to validate their value proposition and business models. Other components include meet-and-greets with experienced entrepreneurs and tech start-up founders. The program will culminate in a showcase day, giving participants the opportunity to make a pitch to potential strategic partners, advisers and investors.
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.
Eligibility requirements
Undergraduate and graduate students, or recent graduates from any Michigan college or university, seeking to launch a technology-based business. If you are a Michigan resident but attend college out of state, you are still eligible.
Teams of at least two people are required; teams that demonstrate a complementary skill set or include members with different majors or from different departments or schools are likely to receive more favorable consideration.
Must be able to make a full-time commitment to the 10-week program
Application process
Applications for the summer 2015 session are now being accepted ? but only until 1 May 2015 ? so click Here now to apply.
Want to learn more (and get some free pizza)? An information session will be held on Tuesday, 14 April 2015, from 6:00-8:00 pm at TechTown Detroit. Stop by with your questions and meet the teaching team and some past program participants.
