The first wave of fellows from Venture for America is hitting Metro Detroit this week and it looks like startups in the Motor City will be the main beneficiary.
Venture for America
is modeled after Teach for America
where it takes top college graduates and places them in economically challenged areas. The difference is where Teach for America will make these young people teachers in struggling school districts Venture for America will place its top talent with growing start-ups in places like Detroit, Cincinnati, Las Vegas, New Orleans and Providence, Rhode Island.
The Detroit cohort will receive 11 of Venture for America's initial class of 40 fellows. Of those 11, eight will be working for companies in Detroit. Those firms include, Digerati
, Rock Ventures
, Detroit Venture Partners
, Doodle Home
and Are You a Human
"They want to be there," says Andrew Yang, founder & president of Venture for America. "They choose Detroit over the other cities. They recognize the energy that is going into revitalizing Detroit and want to be a part of it."
Yang founded Venture for America two years ago with the idea of helping revitalize economically struggling urban centers, like Detroit and New Orleans, by infusing them with some of the most talented individuals graduating from college today. The hope is these young people will stay in these cities and launch their own job-creating startups one day soon. The program also offers a door into entrepreneurship for young people who might otherwise choose to go to expensive business schools and take corporate jobs upon graduation to pay down student loans.
Source: Andrew Yang, founder & president of Venture for America
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.