The Thrive One Fund encourages minorities and women business owners to build their business in the City of Detroit and to contribute to the economic growth of the region. The Thrive One Fund is open to active members of TechTown's THRIVE accelerator program.

MitoStem and Angott Medical Products won cash prizes and prestigious recognition at the Great Lakes Entrepreneurs Quest awards ceremony in Lansing on June 10. MitoStem, a regenerative medicine technology startup, won a New Business Idea Award worth $5,000. Angott Medical Products, which has developed a breast cancer detection device, won a second-place prize worth $25,000 for the Emerging Company Awards.

MitoStem, a startup company in TechTown’s SmartStart business accelerator program, has received a $200,000 Small Business Innovation Research (SBIR) Phase I grant from the National Institutes of Health to optimize its revolutionary stem cell technology developed at Wayne State University. MitoStem received double the standard amount for a Phase I SBIR grant because the award was issued under the American Recovery and Reinvestment Act of 2009.