By WKTV Staff
joanne@wktv.org
Just 10 days after announcing an aggressive relief effort that pivoted its annual 100 business ideas competition, The Start Garden 100, into a fund for existing entrepreneurs, Start Garden announces it has selected grantees of its 100 Comeback Fund. Launched April 7, entrepreneurs had 100 hours to apply for a grant from a $300,000 fund. Just yesterday, a review committee awarded more than $300,000 to 68 entrepreneurs.
It was a whirlwind experience for the Start Garden team and entrepreneurs, but organizers knew the process needed to be quick as time and money is precious for so many entrepreneurs that are trying to navigate the next 100 days.
“Each day we talk to entrepreneurs, many say that time is their biggest enemy,” said Jorge Gonzalez, Start Garden co-director. “When their April 1 bills came due, it was a serious blow. We knew they needed money before May 1, so we compressed what’s normally six months of work into three weeks. With so many requests, we wished we could do more. We’re confident we did the best we could as fast as possible.”
The results of the 100 hour application process:
- 430 applications submitted.
- $5.6 million in requests.
- 70% of fund requests were for $10,000 or less.
- 68 applicants were selected to receive funds.
- Selections were made & entrepreneurs notified in less than 100 hours.
- 88% of recipients indicated a household income of less than $60,000.
- 44% of recipients are female. 56% male.
- 35% of recipients are African American. 32% are Caucasian. 25% are Hispanic. 4% are Asian. 3% identified as Other.
“New business owners frequently pay everyone else before themselves. Almost instantaneously, their ability to provide for their own families was compromised,” said Start Garden co-director Paul Moore. “These funds targeted eliminating that problem for an entrepreneur as they spend the next few months navigating the daily changing landscape of how to make a comeback.”
Shortly after the COVID-19 pandemic reached Michigan, the decision was quickly made to pivot funds to The 100 Comeback as Start Garden leaders knew that new entrepreneurs often defer paying themselves in order to grow their business and they can’t lay themselves off. Almost all federal and state small business relief comes in the form of loans, and many new businesses can’t risk the additional leverage.
“The need for entrepreneur financial support is unlike anything we’ve ever seen right now,” said Start Garden co-director Darel Ross II. “People think a business owner is taking home the biggest check. Most don’t realize they’re investing that money into their people and business. In the small business and tech startup community, the financial impact of the COVID-19 shut down hits employers and employees alike.”
“The decision making process was quite emotional,” adds Start Garden program director Laurie Supinski. “Each entrepreneur has such a unique set of problems, which having the 100 second video in the submission was critical to understanding. Their resilience and creativity is so inspiring, and the heartbreak is very real right now. We remain hopeful that this venture will help keep 68 talented entrepreneurs going instead of folding.”
Learn more about The 100 Comeback: https://100.startgarden.com/
The 68 Recipients:
5F Ventures, LLC
AgHelp
Any Colour You Like Treats LLC
Arebelo & Associates
Art Caribbean Fusion Cuisine
Aztech
Bare All LLC
BattleGR
Blackbird RSVP
Break Room Therapy
Bryan Esler Photo
Chez Olga LLC
CNN Cleaning, LLC
Daddy’s Dough Cookies
Dime & Regal
Edgerow Property Management
El Globo Restaurant
El Granjero Mexican Grill
Emonae Korean BBQ
EverythingAB
Flip Dog Yoga
Germination Labs
Grand Rapids Sport & Social Club
Graped Out
Guelaguetza Designs
Irie Kitchen
Jose Abreu Graphic Studio, antiguamente Koren Graphic Design*
KOKI
La Casa del Pollo Loco
Lawnbot
Life Addicts Studio
Lindo Mexico Restaurante Mexicano
Little Space Studio
Littlebird, That Earlybird, Kingfisher
Love’s Ice Cream & Chocolate
Luxe Artisan Preserves
Matt Everitt Productions
Michigan Clinical & Therapeutic Massage
Michigan House Creative
Mindset Meals
Mosbys Popcorn
Muse GR
New Valley Landscape LLC
Noble Strong Training LLC
Old World Olive Co.
Pack Elephant
PhotoUp
Polished Nail Bar & Spa
Pottery Lane
Rising Grinds Cafe
Rogers Wealth Management Services, LLC
RYE Venue Management LLC DBA The Lit GR
SlothWerks LLC
Soldadera Coffee LLC
Sparkle All The Time
Supreme Focus Ent (Dj Composition)
Sympl.
Tacos el Cunado
The Comedy Project
The G-1:27 Collection
The Hot Spot Metal Studio
The Wisdom Center LLC
United Freedom Painting LLC
VIVE MICHIGAN Magazine
Wallway Technologies & Women in Tech with Ariana Podcast
Wear Your Curls
Wimage, LLC
Wormies
