The Detroit Foundation
I am an occasional contributor and relentless fan of The Detroit Foundation. Please visit the website: www.detroitfoundation.org
The foundation was started by three ex-detroiters, two which I went to high school with, the third I met more recently but I suppose he’s just as cool, even though he can’t say he went to school with Shane….ha ha.
The Mission
Detroit Foundation is a nonprofit venture fund that seeks creative-focused entrepreneurial endeavors to rejuvenate the Detroit Metropolitan area in the wake of recent economic crises. Our goal is to provide a blend of philanthropic capital and public funds, combined with business acumen and professional services, to stimulate the Detroit economy and revitalize its surrounding neighborhoods. Our investments focus on driving commercial business to Detroit through innovative approaches.
The Challenge
The spotlight is now on Detroit. With nearly one third of its residents under the poverty line, growing unemployment rates and mass exoduses from the housing crisis have had a crippling impact on Detroit’s economic stability. With pain, comes publicity. As journalists, politicians and bloggers across the country continue to discuss the ailments of Detroit, it is clear that someone must take action to heal its wounds, and get Detroit back on the right track.
Evolving the Social Fund Paradigm
We believe innovation and passion will ultimately drive the resurrection of Detroit. The entrepreneurs Detroit Foundation supports are focused on building businesses that inherently thrive within a community. The key element is financing. We will use both philanthropic capital and public funds to make disciplined and highly-monitored investments that yield both financial and social returns. Financial returns are both returned back to the public and recycled into new investments. We believe taking public initiative to drive business will result in a positive impact for both the City of Detroit and its inspired community.
Al – I love the bold move with the blog. You’re building something great here – best of luck.
Also, thanks for the nod to the DF – hopefully we will also build something great.