Small Biz Boost Application
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Thank for you interest in the Small Biz Boost Fund Application.
Detroit Means Business (DMB) has recognized, through the substantial response to its Business Assistance program, the critical need for digital services within Detroit's small business community. In response, the Small Biz Boost initiative offers financial support as a key solution for addressing technical needs. This initiative is designed to meet businesses where they are and propel them to the next level of growth.
We have established three distinct pathways for small businesses to receive support:
1. Website Development
2. Mobile App Creation
3. Digital Operational Support
Each pathway is crafted to transition businesses from a non-digital state to leveraging innovative technologies that foster growth. This funding support is application-based, requiring interested businesses to apply and contribute a portion of the project cost, with DMB subsidizing the remaining expenses. To enhance the program, DMB has formed partnerships with Journi, a local organization that focuses on workforce development and skill trades for high school students, and with Best Practices Consulting Services, which brings over 16 years of expertise in providing technical support to economic development agencies. Best Practices Consulting Services specializes in assessing automation and digital integration needs to address labor shortages and boost operational efficiency in distressed areas.
Business owners are required to cover 60% of their project costs. Detroit Means Business (DMB) will provide funding for the remaining 40% of the project costs. Payments to service providers should be made directly by the business owners.
DMB will fund the following number of projects:
Website Development: 13 projects
Mobile App Creation: 4 projects
Digital Operational Support: 25 projects
A. Application Overview
Businesses interested in the Small Business Boost funding can apply by visiting Detroitmeansbusiness.org and completing the application form. The application process is managed through Submittable, a third-party platform, so applicants may need to create a new login if they don’t already have one. The application includes an eligibility form, with detailed requirements listed below. Its purpose is to identify the best fit for the available services. Additionally, businesses will need to provide proof of financial responsibility to cover their share of the service costs.
B. Funding & Selection Overview
Applications for funding will be evaluated based on a rubric with three key categories, each carrying a specific weight:
1. Proof of Funds (25 points): Applicants must provide evidence of financial capability and may be required to make an upfront payment to initiate services.
2. Need Assessment (25 points): Applicants should clearly articulate their need for the requested services. For instance, if applying for a website, the business should either not have an existing site or require significant functionality updates. While design
improvements are considered, they do not impact on the scoring.
3. Scalability (25 points): Businesses must outline a growth plan or strategy that demonstrates how the app, website, or operational support will contribute to their expansion.
Additional Funding Criteria:
Financial Contribution: Businesses are required to cover 60% of their project costs directly with the service provider.
To strengthen your application, ensure you thoroughly address all questions and provide comprehensive information in each category.
All Applicant will receive a notice acceptance or denial within 30 days of submitting an Application. Please note an interview may be required