DETROIT – Each year EntryPoint releases a deep dive look at Detroit’s ecosystem as well as entrepreneurial activity across our state. The Detroit Ecosystem Report was released just a few days ago and shows some interesting trends:

Key Findings from the Report:

  • Over 23% of the venture-backed startups in Michigan are located in City of Detroit.
  • There are 38 venture-backed startups in Wayne County, a 58% increase in the number of startup companies over the last seven years.
  • Startup companies in Wayne County have raised an aggregate of $806.3 million in venture capital funding, a 333% increase in total capital raised over the last seven years.
  • In the last year, 24 startup companies in the Detroit area attracted more than $316.5 million from venture capital firms, nearly five times the amount of capital raised in the year prior.
  • Ten venture-backed startups headquartered in the City of Detroit are led by a CEO who is a person of color. These companies have raised 1.5% of the total venture capital raised by startups in the city in the last year.
  • The cost of living in dense tech hubs, like San Francisco, is 88% higher than Detroit, making the region an attractive location for entrepreneurs who are looking for an energetic, vibrant city to locate, live and launch their companies.

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