DETROIT – TechTown has launched SmartStart, a business development program designed to help startups maximize revenue growth and profitability through a detailed strategy backed up by experienced support staff and mentor networks. TechTown is Wayne State University’s 43-acre research park and business incubator with more than 50 companies in residence.

SmartStart is a business development process for new, high-growth innovative companies that address a compelling need in a different way. Clients work closely with TechTown staff and an array of business consultants and service providers to create and execute a detailed strategy for growth. Companies will learn to manage issues like product development, marketing, funding and basic business operations.

More than 30 people attended the SmartStart program launch at TechTown on December 10. “There was a sense of excitement among the attendees,” SmartStart Support Leader Ebony Johnson said. “I believe this new program will help us provide a higher level of support and impact more Detroit startups.”

There will be ongoing information meetings at TechTown open to companies interested in applying to the program.

The SmartStart program receives support from the Detroit Economic Growth Corporation (DEGC) and the Michigan Economic Development Corporation.

“One of the exciting things about SmartStart is that we anticipate having more than 100 companies in the program within two years, helping to make a considerable impact on the economy in Detroit and the state,” Director of Business Services Judy Johncox said. “We’re building on a base that the MEDC and the DEGC helped us put into place.”

SmartStart offers 24 months of entrepreneurial support, including:

Coaching to provide one-on-one guidance and direction;

Education that offers a practical focus on business plans, sales pitches, operations and customers;

Mentoring to work with subject-matter professionals on specific projects.

The aim of SmartStart is to create tangible results for businesses.

“Our two-year program is distinctive because it goes well beyond business plan development,” Johncox said. “It goes into operations and whatever is necessary to help a company get to revenue.

Businesses that take full advantage of the program will leave with:

A fundable business plan with access to Angelsoft, a deal-flow software program that attracts investors throughout the Midwest;

A scalable operations manual to implement competitive processes;

The resources needed to generate sales for pre-revenue companies.

The program offers a flexible repayment plan.

Entry points for SmartStart are in January and July, and 25 qualified companies will be accepted in each cycle. Applications for the session beginning in the summer will be accepted up until July. Companies can submit a free application online at TechTownWSU.Org/business/BDP.php

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