Economic mobility in Detroit isn’t just a necessity; it’s a means to provide new opportunities for individuals and families to strengthen their financial futures and improve quality of life. It also supports the business ecosystem and builds a stronger Detroit. There are various initiatives happening across the city to do exactly this.
Through BUILD Institute -- a nonprofit organization dedicated to supporting microentrepreneurs -- any and all entrepreneurs have the opportunity to turn their business ideas into reality by accessing necessary tools, resources and support networks right here in Detroit.
In its continuing commitment to fostering economic mobility for all Detroiters, the Gilbert Family Foundation made a recent $615,000 investment into BUILD to expand their programming designed to increase capital access, provide comprehensive business development training and promote economic growth in underserved areas. Specifically, the grant will enhance BUILD’s ability to offer grants and low-interest loans to entrepreneurs, deliver essential educational resources and help local businesses scale and generate jobs, all of which are crucial to create sustainable wealth in Detroit’s under-resourced neighborhoods.
The initiative is part of Gilbert Family Foundation’s broader efforts to empower aspiring and existing small business owners in the city, enable them to overcome barriers and contribute to the long-term economic vitality of their communities.
“This generous grant allows BUILD to significantly deepen our impact within Detroit’s entrepreneurial community,” said Camille Walker-Banks, interim president and CEO of BUILD Institute. “The funding will directly increase access to capital through grants and low-interest loans, expand our educational offerings and empower more microentrepreneurs to achieve economic self-sufficiency and generational wealth.”
Since 2012, BUILD Institute has had more than 2,600 aspiring entrepreneurs graduate, 81% of whom are African American and 77% of whom are women. Currently, 100% of ZIP codes in the Detroit Metro area are represented by BUILD graduates.
This recent investment is part of Gilbert Family Foundation’s broader $500 million, 10-year commitment with the Rocket Community Fund, aimed at building opportunity for Detroiters.
Click or tap here to learn more about BUILD Institute.
Black Tech Saturdays: Expanding opportunities in Detroit’s tech ecosystem
There are countless areas entrepreneurs are diving into, but tech might be one of the most important in our ever-evolving digital world.
Black Tech Saturdays, a grassroots initiative with a goal to create opportunities for Black tech entrepreneurs, aims to break down barriers that have historically excluded Black professionals from the tech industry.
With its ongoing commitment to Detroit’s entrepreneurial success, the Gilbert Family Foundation has also invested $1.2 million in Black Tech Saturdays. Since its launch in April 2023, the nonprofit has hosted more than 10,000 attendees, which has generated $30 million in economic impact.
Some key initiatives funded by the grant include pitch competitions and matchmaking for entrepreneurs, specialized training and mentorship programs, a digital library of resources for tech startups, talent development and local recruiting.
“As Detroit’s tech landscape evolves, we have a historic opportunity to ensure this growth uplifts everyone,” said Johnnie Turnage, co-founder of Black Tech Saturdays. “Our focus is clear: to increase dollars in people’s pockets by driving business creation, career advancement and wealth-building opportunities, paving the way for a new, inclusive economy in Detroit.”
Gilbert Family Foundation’s investment in Black Tech Saturdays is just one of several tech-related initiatives. The foundation also supports the Apple Developer Academy and Venture 313, both of which offer support to Detroiters who want to grow their knowledge in the tech industry.
Apple Developer Academy: Fostering tech entrepreneurship
The Apple Developer Academy (ADA) is a meaningful avenue for burgeoning tech entrepreneurs. It offers a 10-month program to help students of all ages develop app development and business skills to launch their own tech careers.
The Academy’s Renaissance Program and Operations School is a second-year initiative that takes students one step farther. It supports 50 ADA graduates as they transition into their careers through mentorship in high-demand fields, leadership development and the opportunity to work on a genuine client-facing project to gain job experience.
Together with Apple and MSU, the Gilbert Family Foundation has been a leading funder of the ADA since doors opened in 2021.
“The Academy has been an incredible springboard for tech talent in Detroit,” said Laura Grannemann, executive director of Gilbert Family Foundation. “We’re proud to be a part of the journey for these entrepreneurs as they take the skills they’ve gained and build successful careers in the tech industry.”
Applications are open now for the ADA, and no coding experience is required. Click or tap here to learn more.
Eastern Market partnership: Supporting urban farmers and food entrepreneurs
Detroit’s food entrepreneurs are also receiving support. The Gilbert Family Foundation made a $1.5 million investment in the “Authentic Eastern Market” campaign, which focuses on improving infrastructure for urban farmers, particularly those from Detroit-based Black, Indigenous and People of Color (BIPOC) communities.
One key project is the development of Shed 7, which aims to generate greater participation by entrepreneurs of color in the Eastern Market District. The project includes dedicated dock and refrigeration space for BIPOC farmers at affordable rental rates.
In total, 14 small business entrepreneur farmers will receive support to expand their operations. The initiative is expected to create 28 full-time equivalent jobs for these Detroit-based growers, with projections to grow to at least 20 farmers and 40 full-time equivalent jobs over the next few years.
“This investment will be instrumental in addressing systemic inequities faced by BIPOC farmers, allowing them to scale their businesses, create jobs and contribute to a more vibrant and equitable food system in Detroit,” said Katy Trudeau, CEO and president of Eastern Market. “The improvements to Shed 7 will be particularly impactful, providing dedicated space and resources to ensure the success of these entrepreneurs.”
Motor City Contractor Fund: Scaling Detroit-based construction businesses
To further enhance economic mobility, the Gilbert Family Foundation launched the Motor City Contractor Fund (MCCF), a partnership with Invest Detroit and Detroit Development Fund, aimed at helping Detroit-based construction businesses grow.
After a successful pilot program that disbursed $3.5 million, the foundation is expanding the program to support 50 additional contractors.
[Read more: Motor City Contractor Fund expands to help local contractors compete in growing construction market]
“More than $5 billion in annual commercial construction in Detroit is done by contractors from outside the city,” Grannemann said. “MCCF is one way we’re working to keep that wealth in Detroit, serving Detroiters. We are thrilled to welcome this next cohort of talented contractors.”
A comprehensive approach to economic mobility
Through its wide-ranging investments, the Gilbert Family Foundation is building a comprehensive ecosystem that supports Detroit’s entrepreneurs at every stage of their journey. From food and construction to tech and microenterprise, the foundation’s initiatives are designed to remove barriers, create sustainable growth and ensure all Detroiters have a pathway to economic mobility.
“The ultimate goal is to create pathways to long-term wealth creation and economic self-sufficiency in Detroit’s most vulnerable communities,” said Grannemann. “By supporting entrepreneurs across industries and at every stage of their growth, we are laying the foundation for a more inclusive and prosperous future for all Detroiters.”