Michigan is at the center of one of the worst recessions in the past century. However, for businesses that are located in Wayne State Universities Tech Town, things are looking quite a bit brighter. Tech Town is a business incubator that was started by Wayne State University, and has given funding to businesses that could lead the state and country into the future.
Tech Town not only allows news businesses to grow, but also educates small business owners on how to be successful. Sometimes a prospective business owner would know what they want to do, but not have the business skills to put it together. If that were the situation, then the mandatory training courses provided through Wayne State University would give them the tools that they need to be successful.
There are over 160 tenants located in Tech Town, and more are on there way. DEEN or Diversity Employment and Educational Network is employing fifty people, doing advertising contracts for the United States military in minority brands. Carla Walker Miller, also learned a lot from Tech Town. She was able to learn how to gather venture capital, and has built a bio diesel plant in Detroit. This plant is providing 150 jobs and possibly up to 350 more this year thanks to her training. The State of Michigan has also projected that over 5,000 jobs are going to be created in the next three years thanks to Tech Town.
This program has been so successful that over 900 individuals have signed up to take Fast Track courses. These are the courses that you need to take in order to get into Tech Town. They may last anywhere from 14 days to two years, but in the long run, they give individuals the training that they need in order to be successful. Not only has Wayne State University put up a large amount of funding for this program, but they are responsible for taking on the process of making this program work. They are already on track to beat their goal of 400 companies started within three years, and may make it as high as 1,000+. This program is going to lead southeastern Michigan to become the new small business leader in the United States.