- Associated Press - Thursday, March 21, 2019

DETROIT (AP) - Entrepreneurs and startups are invited to compete for $1.2 million in funding to help grow their for-profit businesses through the 3rd Annual Quicken Loans Detroit Demo Day .

Applications are due April 22 and 15 finalists will be chosen to pitch their businesses live June 14 at the Fillmore Detroit. A panel will select seven winners. Prizes will be presented as a grant, interest-free loan or an equity investment ranging from $50,000 to $300,000 for each winner.

Three grant recipients also will be voted on by the Fillmore audience.

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Applicants must be based in Detroit or committed to relocating into the city. They also can’t have exceeded $2 million in annual revenue or raised more than $1 million in capital.

The eight winners of the 2017 Demo Day grew their annual revenue 41 percent in 2018.

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