Entrepreneurship

Rainbow Loom founder introduces travel-size Finger Loom bracelet maker

By Newsroom

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October 2, 2014

The founder of the surprise hit Rainbow Loom continues to keep his hands busy with his latest invention. Excerpt: "Cheong Choon Ng was trying to make rubber-band bracelets with his daughters four years ago when he realized his fingers were too big to manipulate the bands. So, the automotive crash-test engineer set about creating a tool that would help him do the job — the Rainbow Loom. Ng is aware the toy business is fickle and that the popularity of the Rainbow Loom could fade, which is why he’s introducing new products, such as the travel-size Finger Loom, which comes out Wednesday." More here.

Latest in Entrepreneurship

Intergenerational partnerships fuel success in metro Detroit companies

By Dennis Archambault

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Arts & Culture

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September 25, 2014

"Make new friends and keep the old..." is more than just a nice sentiment, it can be a smart business strategy. Pairing the energy and creativity of young entrepreneurs with the experience and contacts of elder business leaders has proven to be a powerful tool for several metro Detroit firms.

“Homecoming” event spotlights Detroit’s economic progress to the nation

By Newsroom

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Community Development

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September 25, 2014

Detroit showed itself off to advantage at a recent event attended by the nation's movers and shakers. Excerpt: "In May, J.P. Morgan Chase & Co. said the bank would invest $100 million over the next five years in the city. Other companies, foundations and the state of Michigan pledged more than $800 million over 20 years to help protect the city-owned Detroit Institute of Arts from possible sale... Residential vacancy in the city's downtown and midtown neighborhoods is low as office space has begun to fill up, driven in large measure by dozens of buildings acquired and renovated by Quicken Loans founder Dan Gilbert. As part of the event Thursday, premium grocer Whole Foods said it was searching for a second location in the city after opening its first store last year. "It's much better after the bankruptcy than before," investor Warren Buffett told an invitation-only crowd. Last year, the chairman and chief executive of Omaha, Neb.-based Berkshire Hathaway said Detroit had huge potential for investors, saying he would be open to buying business in the city. On Thursday, he said in a staged conversation with Mr. Gilbert that he once considered buying the Ambassador Bridge that connects Detroit across its namesake river to Canada and wouldn't rule out future investments in the city." More here.

High fashion Birmingham boutique opens second studio in Grosse Pointe

By Newsroom

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Community Development

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September 25, 2014

A former stockbroker who swapped a career in finance for one in fashion is expanding from one store and studio in Birmingham to a second in Grosse Pointe. Bonnie Foley will bring her Christane Larue boutique with designer clothing, including resort wear, casual day wear and formal evening wear, to a spot being renovated at 17114 Kercheval Avenue. The store is scheduled to open in October. It will be the latest business arrival for The Village in Grosse Pointe, where the main street, Kercheval Avenue, was spotted with several vacant storefronts until of late, when a series of restaurants, a dance studio, a hair salon, a fabric store and other businesses moved in. The Birmingham studio is located at 2243 Cole St. It opened in 2008. Source: Christiane Larue Writer: Kim North Shine

How about them apples? Metro Detroit’s craft cider industry

By NICOLE RUPERSBURG

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General

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September 18, 2014

Beer, mead, spirits... with the rise of Michigan's craft breweries and distilleries it was inevitable that hard cider would follow suit. And with summer sliding into fall, wouldn't you like to know who's making what in metro Detroit? Metromode's Nicole Rupersburg has the answers.

Macomb Comm. College to manage $2.7M Innovation Fund for entrepreneurs, start-ups

By Newsroom

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Community Development

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September 18, 2014

The funding pie is growing larger for Detroit-area entrepreneurs, especially those who agree to take on community-college students as interns. Excerpt: "Up to $100,000 will be made available to startup and emerging businesses in the Detroit area through the $2.7 million Innovation Fund, part of J.P. Morgan Chase & Co.'s $100 million investment in the region. According to a release from Macomb Community College, which will manage the fund, grants of $25,000, which don't have to be repaid, will be awarded to startups "that are taking the initial steps to get their very early stage idea ready for market introduction." In other cases, up to $100,000 will be made available to "advance the progress of emerging companies toward larger-scale equity funding." Those awards would have to be matched 100 percent by the company... Companies that receive funding will be required to provide employment opportunities to MCC students through internships." More here.

Rock N Ride opens Grosse Pointe’s first indoor cycling studio

By Newsroom

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Community Development

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September 18, 2014

Workout options in Grosse Pointe have grown with the opening of the first indoor cycling studio. Rock N Ride opened Aug. 25 at 15230 Charlevoix in Grosse Pointe Park after renovations that included the addition of a mural of a downtown skyline under the stars. The studio gives off a rock-out vibe with pumping music, flashing lights and low lighting while more than a dozen stationary cyclists pedal their way to high heart rates. Rock N Ride joins several new yoga and barre businesses opening across the five Grosse Pointes. It is located in a part of the Park bordering Detroit and is home to some of the city's oldest bars. The area, like other parts of Grosse Pointe Park, is seeing new entrepreneurs move in next to the steady businesses in the three-block commercial stretch of Charlevoix. The Jungle Juice Bar opened less than a year ago and is attracting health-conscious customers heading to or from workouts. Source: Rock n Ride Writer: Kim North Shine

Up North-based custom bed designers expand to downtown Rochester

By Newsroom

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Arts & Culture

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September 18, 2014

A mattress designer who makes beds in any size, shape or form by hand, from scratch has opened a store in downtown Rochester. Beds by Design, which started in Harbor Springs, Mich. in 2005, has built a mattress manufacturing business on a customer base that wants mattresses made exactly as they ask, whether it's for comfort or for special spaces, say tight cottages, RVs, yachts, you name it. Downstate interest in the Up North-based Beds by Design prompted owner Rory Karpathian to open a Rochester showroom last month at 111 W. Third St. Karpathian, a former high-ranking mattress company executive who tired of industry changes focused on making more money by manufacturing shorter-lived products, says mainstream manufacturers can't come close to the careful, detailed and time-consuming process he and his employees use to make mattresses. "I make hand-crafted, natural, heirloom quality mattresses. My mattresses are made to last a lifetime and are the finest you will find in North America," he says. Source: Rory Karpathian, owner, Beds by Design Writer: Kim North Shine

OpEd: Why Detroit needs social entrepreneurs

By Elizabeth Garlow & Romy Gingras

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Entrepreneurship

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September 11, 2014

Social entrepreneurship has a double bottom line: profit and the greater good. Romy Gingras, president of Gingras Global, and Elizabeth Garlow, former executive director of the Michigan Corps, discuss how and why social enterprise solves both business and societal needs.

“The Henry Ford’s Innovation Nation” show to premiere on CBS

By Newsroom

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Community Development

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September 11, 2014

The Henry Ford's Innovation Nation show featuring thinkers and doers is set to premiere on CBS's Saturday morning lineup, beginning Sept. 27. Excerpt: "Hosted by Mo Rocca of CBS' "Sunday Morning," will be a weekly celebration of the inventor’s spirit - from historic scientific pioneers throughout past centuries to the forward-looking visionaries of today. Each episode tells the dramatic stories behind the world’s greatest inventions - and the perseverance, passion and price required to bring them to life. Featuring the "what if it never happened," "the innovation by accident" and a strong focus on "junior geniuses" who are changing the face of technology, this series will appeal to young viewers and their families. More here.