As of 2019, Detroit now has 4 unicorns–Duo, Stockx, Rivian, and OneStream–tech companies valued at more than 1 billion dollars. Detroit is home to a growing number of startups that are slowly revolutionizing the city’s economy and the economy of the Midwest, which is attracting back talent from the coasts due to balanced work-life culture, affordable cost of living, and growing tech-related industries. It’s still a work in progress, but Michigan appears to have finally stemmed the tide of talent leaving for jobs elsewhere.
Evan Adams is the Capital Programs Manager at Detroit’s Build Institute, a Detroit-based incubator founded in 2012 that has already graduated more than 1800 entrepreneurs focused on community-impact ventures. The Build Institute runs several programs to mentor, house, and fund entrepreneurs, including SOUP and Kiva, which Adams manages to help startups of all kinds pitch for funds and find mentorship in Detroit.