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The New Economy Initiative for Southeast Michigan and the Ewing Marion Kauffman Foundation are expected to announce Monday afternoon that they have formed a partnership to be based at TechTown to help spur entrepreneurship and create 400 new companies each year in Southeast Michigan.
On Thursday, the board of directors at the NEI, made up of 10 private, mostly Michigan-based foundations, approved the initiative and more than $9 million in funding to begin several economic development programs...
Launched in 2007, the New Economy Initiative is funded by contributions from 10 local and national foundations: Detroit-based Community Foundation for Southeast Michigan, Southfield-based Max M. and Marjorie S. Fisher Foundation, New York-based Ford Foundation, Detroit-based Hudson-Webber Foundation, Battle Creek-based W.K. Kellogg Foundation, Miami-based John S. and James L. Knight Foundation, Troy-based Kresge Foundation, McGregor Fund in Detroit, Flint-based Charles Stewart Mott Foundation and Skillman Foundation in Detroit.