With its robust network of engineering talent, lower cost of living, and proximity to corporate and research powerhouses, Detroit is becoming a leading tech ecosystem that has the potential to set the standard for others to model across the country. In just the last four years, there has been a 54% increase in the number of high-growth companies located in Detroit. As the city becomes an increasingly attractive spot to launch and grow a business, it needs to continue to build upon the fundamental elements necessary to foster a strong entrepreneurial ecosystem — talent, community, research and capital — without losing sight of the importance of inclusion.

Download the 2018 Detroit Entrepreneurial Ecosystem Report Here

Key Findings from the 2018 Detroit Entrepreneurial Ecosystem Report:

  • There has been a 54 percent increase in the number of Detroit venture-backed startups in the last four years; 56 percent of venture capital invested in Detroit-based startups are in the information technology sector.
  • Michigan has the highest density of engineers in the United States: 1,400 engineers per 100,000 residents with the concentration of engineers employed in Wayne County.
  • More than 25 percent of venture-backed startups in Michigan are now located in Detroit.
  • Three active venture-backed startups headquartered in Wayne County are led by a CEO who is a racial minority. These companies have raised just over 5 percent of the total venture capital raised by startups in Wayne County in 2017.