DETROIT — New Economy Initiative (NEI), a special project of the Community Foundation for Southeast Michigan, kicked-off the return of NEIdeas: Rewarding Ideas for Business Growth, a two-tiered challenge awarding $500,000 to existing small businesses in Detroit, Hamtramck and Highland Park.

Last year, a handful of Arab American businesses received a $10,000 grant through NEIdeas, including Dijana Creative Sewing and Embroidery, Alicia’s Cleaners and Alterations and Seabird Fresh Fish and Chicken.

The 2015 NEIdeas— which officially launched when the application period opened on Thursday, May 7— will grant cash awards to 32 existing businesses and provide access to support for small businesses in all of those cities. Businesses must be at least three years old to enter. Last year, nearly 600 small businesses from every corner of Detroit applied for the inaugural NEIdeas challenge. 

Businesses ranged from service providers to food and retail outlets, to manufacturing companies and more. In 2014, nearly 80 percent of the businesses that applied to the $10K challenge were minority-owned and nearly 60 percent were women-owned.

“We were blown away by the response of great ideas for business growth put forth by so many different types of small businesses during the first year of NEIdeas,” said Dave Egner, executive director of NEI. “It’s been rewarding to not only see the winning businesses grow, but also see many of the applicants get better connected to the community resources, including many of the resources that NEI funds. Small business growth is crucial to Detroit’s success, as they hire local employees, pay taxes and serve as anchors in their neighborhoods.”

The NEIdeas team is also holding outreach sessions at Arab American-owned businesses and ACCESS in Dearborn. The application for the 2015 NEIdeas is available online at NEIdeasDetroit.org. Printed applications will also be available at more than 20 community organizations, associations and churches across Detroit, Hamtramck and Highland Park that will serve as “ambassador” locations for the challenge.

For-profit businesses providing products and services of all kinds can submit completed applications online, via email or U.S. mail.

Applicants for the $10K challenge will need to submit their applications by June 4. Applicants for the $100K applicants will need to submit by June 25.