Quicken Loans Detroit Demo Day will commit over $1M of funding to seven companies through grants, interest-free loans, and equity-like investments. Funding opportunities for the seven winners of Detroit Demo Day are below:
For companies introducing their product or service to market.
These grants are similar to a donation in that they do not need to be paid back. Below is the prize breakdown:
For more established businesses looking to expand locally.
These are Interest-Free Loans with a 5-year term, 18-month payment-free holiday, and no personal guarantee. Below is the prize breakdown:
For more established businesses looking to expand nationally.
This is a 5 year, interest-free convertible note that converts at a qualified financing round of $250k or more. There is no valuation cap or discount to the next round. Below is the prize breakdown: