Sidewalk Ventures spent its first year helping a local entrepreneurs connect with local investors, but now the Midtown-based company is looking to spread its business model across Michigan.
"It's been a year of educating people and helping people across the state understand what this new phenomenon is," says Jeff Aronoff, principal at Sidewalk Ventures
, which calls the Green Garage
home, bridges the funding gap for small businesses looking to get their ventures off the ground. The firm pairs clients with local investors to create community-based investment and a smart profit to their backers.
The 1-year-old company helped Sister Pie
, a seasonal baked-goods company, lock down five figures of investment last year. The money, which came from local investors, helped Sister Pie secure its retail location in West Village, giving it space for future growth. Sidewalk Ventures is also helping the Detroit City Football Club
raise hundreds of thousands of dollars to renovate its new stadium in Hamtramck.
"The investment deal will be open until the middle of February," Aronoff says. "It will be between $400,000 and $750,000. We have already raised $360,000."
Aronoff is currently working to attract more potential small businesses from across Michigan. It's also looking to attract more community organizations, like downtown development authorities, to help it make inroads in neighborhoods across the Great Lakes State.
"This is a tool that can be used by anybody in the state of Michigan," Aronoff says.
Source: Jeff Aronoff, principal at Sidewalk Ventures
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.