Comerica Bank Announces Record $100,000 Donation To Winner of 2019 Comerica Hatch Detroit Contest

DETROIT, June 7, 2019 /PRNewswire/ — Comerica Bank, the longest-serving bank in Michigan for 170 years, is excited to announce a new, $100,000 donation to the winner of the 2019 Comerica Hatch Detroit Contest. The record amount in startup funds will go toward opening a brick and mortar business in Detroit, Hamtramck or Highland Park. In addition to Comerica’s $100,000 investment, the bank will also double its organizational support to Hatch Detroit with a supplementary $40,000 donation.

“We view our relationships with small businesses as crucial investments into our communities,” said Michael T. Ritchie, Comerica Bank Michigan President. “We are proud of our partnership with Hatch Detroit for the past seven years, and we are most delighted to see how well previous winners and alumni are succeeding. Our goal is to help our communities thrive, and we believe this will continue planting successful retail businesses in and around Detroit.”

In addition to startup funds, the 2019 Comerica Hatch Detroit Contest winner will receive a comprehensive package of accounting, legal, IT and public relations support from Hatch Detroit and its partners.

“The Comerica Hatch Detroit Contest is a catalyst for economic development in Detroit’s neighborhoods,” says Vittoria Katanski, executive director, Hatch Detroit. “Independent retail helps define the character and personality of city neighborhoods. Together with partners such as Comerica Bank, Hatch Detroit can continue to support independent retail while introducing 10 of the year’s best business concepts.”

The 2019 Comerica Hatch Detroit contest officially kicks off Friday, June 7 when entrepreneurs can begin submitting their business plans online at HatchDetroit.com/apply through July 31.

The Top 10 businesses will be announced once the submission period ends, and two rounds of public voting will follow, including a Top Ten and Top Four – allowing the Detroit community to vote for the business they believe is worthy of the $100,000 top prize.

The Comerica Hatch Detroit Contest concludes Thursday, October 17 with the annual “Hatch Off” at Ford Field in the Comerica Gridiron Club.