New Economy Initiative

What New Economy Initiative does

New Economy Initiative (NEI) is a philanthropic collaboration and special project of the Community Foundation for Southeast Michigan, founded in 2007 with an initial $100 million commitment to build an inclusive culture of entrepreneurship in southeast Michigan. NEI does not generate commercial revenue; it operates as a grantmaking intermediary, accepting contributions from a coalition of major foundations (including Community Foundation for Southeast Michigan, Ford Foundation, Hudson-Webber Foundation, JPMorgan Chase, Kresge, Ralph C. Wilson Jr., William Davidson, and W.K. Kellogg) and re-deploying those funds through grants, mission lender partnerships, and ecosystem convenings. Since 2009, NEI has awarded $151.5 million across 796 grants, reaching 43,043 companies and more than 35,000 employees, primarily in Wayne, Oakland, Macomb, Monroe, Washtenaw, St. Clair, and Livingston counties.

NEI's core offerings are programmatic rather than technology products. Its primary mechanisms are (1) the Inclusive Small Business Support Network Fund, a grantmaking vehicle channeling capital to technical assistance providers, mission lenders, and community connectors; (2) the NEI Worktable, a quarterly convening of 80+ business support organizations (BSOs) that collectively serve 6,000+ small businesses annually; (3) the Capital On Ramp Program (CORP), a pilot loan program offering up to $35,000 per business through four mission-based lenders in Wayne County; and (4) the MI Small Business Helper digital platform, co-powered with the Gilbert Family Foundation, which provides a searchable directory of support organizations, step-by-step business guides, an events calendar, and a running list of grant opportunities. There is no proprietary AI, data product, or SaaS component — the digital platform functions as a resource hub rather than a technology product with defensible IP.

NEI is governed by an Executive Director (Wafa Dinaro), a Senior Program Officer, an Associate Director of the Business Support Network Office, a Communications Associate, and a Program Coordinator — a five-person team. A five-person volunteer advisory board (announced 2023) provides strategic guidance. The organization is regional in scope (Southeast Michigan / Metro Detroit) and targets underserved entrepreneurs including minorities, women, immigrants, and low-income founders. Its go-to-market is community-led: NEI does not market directly to end beneficiaries but channels its support and messaging through trusted intermediary BSOs, foundation partners, and ecosystem convenings. Pricing is zero-cost to all beneficiaries; the economic model is sustained by philanthropic contributions rather than fees, licenses, or commercial revenue.

Name

New Economy Initiative

Legal name

New Economy Initiative

Website

https://neweconomyinitiative.org

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

New Economy Initiative is a Detroit-based philanthropic initiative and special project of the Community Foundation for Southeast Michigan that channels foundation grants through an 80+ organization network to support underserved small business owners across southeast Michigan.

Ownership category

akta.pro rank

Headquarters

HQ city

Detroit

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Philanthropic Grants and Fundraising: NEI operates as a philanthropic collaboration funded by foundations and corporate donors. Since 2007, foundations have contributed $159 million to support the organization's mission of growing inclusive entrepreneurship in southeast Michigan.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

NEI is a philanthropic initiative that funds and convenes an inclusive ecosystem of business support organizations serving small businesses and entrepreneurs in southeast Michigan. It awards grants to nonprofit intermediaries and mission lenders, operates the MI Small Business Helper digital resource platform, and convenes the NEI Worktable network of 80+ organizations assisting more than 6,000 small businesses annually.

Product overview

The New Economy Initiative (NEI) operates as a philanthropy-led support network rather than a traditional product company. Its core offerings consist of three interconnected programs: the MI Small Business Helper digital platform (a centralized resource hub connecting entrepreneurs to support organizations, guides, events, and grants), the NEI Worktable (a quarterly convening mechanism for business support organizations), and the Capital On Ramp Program (a loan access initiative). The organization primarily functions through grant-making to an Inclusive Small Business Support Network Fund that supports technical assistance providers, mission lenders, and trusted connectors across southeast Michigan. These offerings work together to provide entrepreneurs with capital access, practical assistance, information, and connections to business resources.

Differentiator

Problem solved

Functional benefit

Brands

• MI Small Business Helper: A free digital platform connecting Southeast Michigan entrepreneurs and founders to trusted local resources, guides and programs. Powered by NEI and the Gilbert Family Foundation.
• Capital On Ramp Program (CORP)
• NEI Worktable

Products and services

• MI Small Business Helper Free digital platform that connects Southeast Michigan entrepreneurs and founders to trusted local resources, guides, and programs. Features include a searchable directory of more than 80 support organizations, step-by-step business guides, a curated events calendar, downloadable resources library, regulatory considerations, and a running list of grant opportunities.
• NEI Worktable A quarterly in-person convening of business serving organizations (BSOs) that provide resources to entrepreneurs in southeast Michigan. Includes biweekly virtual meetings and convenes more than 80 organizations that collectively assist more than 6,000 small businesses annually.
• Capital On Ramp Program (CORP) A pilot program designed to make small business loans simple and accessible for Wayne County small businesses operational for at least two years, offering loans up to $35,000 with coaching and technical assistance support delivered through four partner mission lenders.
• Inclusive Small Business Support Network Fund NEI's grantmaking initiative that supports technical assistance providers, mission lenders, and trusted community connectors that provide resources to small businesses in southeast Michigan. Since inception the Fund has awarded more than $12 million and has been the vehicle for more than $53 million in grants to 87 organizations across 379 grants over a recent ten-year window.

Quantifiable outcome

• 43,043 companies impacted through 796 grants totaling $151.5 million
• +2 more outcomes

Named customers16 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

25 partnerships are on record, tiered core and minor.

• Black Leaders DetroitcoreChannel Partner/ Reseller/ Distributor · 1 January 2024CORP program lender providing loans up to $35,000 to Wayne County small businesses. Contact: Larenz Studavent.
• Detroit Development FundcoreChannel Partner/ Reseller/ Distributor · 1 January 2024CORP program lender providing loans up to $35,000 to Wayne County small businesses. Contact: Erin Grant.
• Michigan Women ForwardcoreChannel Partner/ Reseller/ Distributor · 1 January 2024CORP program lender providing loans up to $35,000 to Wayne County small businesses. Contact: Tanesia Greer.
• ProsperUs DetroitcoreChannel Partner/ Reseller/ Distributor · 1 January 2024CORP program lender providing loans up to $35,000 to Wayne County small businesses. Contact: Emily Sioma.
• Gilbert Family FoundationcoreStrategic or Co-development Partner · 1 January 2024Co-powering the MI Small Business Helper digital platform that connects southeast Michigan entrepreneurs to trusted resources.
• TechTown DetroitcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing 313 Strong, Retail Boot Camp, Pop-up Incubation, and training programs for Detroit entrepreneurs.
• ProsperUs DetroitcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing Business 101, Entrepreneur Training, Financial Coaching, Business Services, and Microlending.
• Michigan Women ForwardcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing WomanUp & Pitch, Building the Digital Divide, and Microloan Programs.
• Build InstitutecoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing entrepreneurial education, capital programs, and co-working space for Detroit entrepreneurs.
• Eastern MarketcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee supporting Detroit Kitchen Connect classes and accelerator tenants for food businesses.
• Detroit Hispanic Development CorporationcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing Fantazma Market & Cafe, Side Hustle to CEO, and community outreach programs.
• Arab American Women's Business CouncilcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing mentorship, workforce development, scholarships, and small business development workshops.
• Great Lakes Women's Business CouncilcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing WBE certification, WBC advising, training, and Business Growth Programs.
• Michigan Black Business AlliancecoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing Capital Connect, Biz Wiz, and Walk-In Wednesday programs.
• Detroit Neighborhood Entrepreneurs Project (U of M)coreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing student-business matching, accounting workshops, and consulting services.
• Southwest Detroit Business AssociationcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing small business advocacy, business improvement district, and La Joya Gardens development.
• ACCESScoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing Ignite/Explore programs, 1:1 coaching, business development, and micro loans.
• Accounting Aid SocietycoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing tax preparation, sales tax support, and THRIVE business coaching.
• Design Core DetroitcoreChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing Detroit Design Network, business education, and City of Design programs.
• BasBlueminorChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing Zero-to-One Entrepreneurial Fellowship and Founders + Fund(Her)s programs.
• Live6 AllianceminorChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee connecting Northwest Detroit entrepreneurs to small business support services and providing SPACE pop-ups.
• Zaman InternationalminorChannel Partner/ Reseller/ Distributor · 1 January 2024NEI grantee providing BOOST Entrepreneurship Program for aspiring female entrepreneurs in Inkster.
• Right to StartminorStrategic or Co-development Partner · 1 January 2023National nonprofit partnered with NEI and Michigan Microbusiness Coalition to drive grassroots advocacy for small business policy changes.
• Invest DetroitcoreStrategic or Co-development Partner · 1 January 2023Partner in Business Support Network Office providing small businesses with inclusive access to capital and support services in Wayne County.
• Michigan Municipal League FoundationcoreStrategic or Co-development Partner · 1 January 2022Co-founder of Michigan Microbusiness Coalition working to develop statewide policy and support for microbusinesses.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Aspen Institute Economic Opportunities Program: Program that advances strategies, policies, and investments to create inclusive economic opportunities for low-income workers and business owners. Its research, convening, and field-building work parallels NEI's ecosystem coordination and NEInsights knowledge-sharing platform.
• Jobs for the Future (JFF): National nonprofit that drives workforce and economic transformation, including small business and entrepreneurship programs in under-resourced communities. JFF's place-based economic mobility work overlaps with NEI's inclusive entrepreneurship mission.

Direct peers

• Local Initiatives Support Corporation (LISC): National nonprofit that finances and coordinates community development, including small business support, in distressed urban neighborhoods. LISC's place-based model with local offices and intermediary partnerships is directly comparable to NEI's BSO-network approach in SE Michigan.
• Initiative for a Competitive Inner City (ICIC): Nonprofit focused on economic development in under-resourced urban areas, with research, training, and capital programs for inner-city businesses. ICIC's mission of building inclusive entrepreneurship in distressed geographies overlaps directly with NEI's work in Wayne County and Detroit.
• Surdna Foundation: National foundation with a Strong Local Economies program that funds place-based economic development, small business support, and inclusive entrepreneurship — operating through intermediaries in target regions, much like NEI's BSO network model.
• Detroit Development Fund: Detroit-based CDFI providing loans and business advisory services to Detroit small businesses that lack access to traditional capital. As a CORP pilot lender and long-time NEI network partner, DDF is both a downstream peer and grantee.
• The Kresge Foundation: Major national foundation that funds inclusive economic development, small business support, and community development financial institutions. As both a NEI co-funder and an independent operator of parallel place-based economic programs, Kresge is a peer and partner.
• Living Cities: Collaborative of major foundations and financial institutions working to close racial income and wealth gaps in U.S. cities. Living Cities' model of pooling philanthropic capital and coordinating across member institutions is structurally similar to NEI's eight-funder coalition and Inclusive Small Business Support Network Fund.
• Pratt Foundation / CDFI-friendly community foundations (e.g., Chicago Community Trust): Large urban community foundation operating small business and inclusive economic development programs in its region, similar to how NEI operates within CFSEM's umbrella. Chicago Community Trust's small business and workforce programs offer a comparable metropolitan foundation model.

Regional players

• Skillman Foundation: Detroit-based foundation focused on children, youth, and equitable community development, including support for Detroit small businesses and community-based organizations. Skillman's Detroit focus and BSO-grantmaking approach make it a strong local analogue to NEI.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NEIMichigan
• Facebookfacebook.com/neweconomyinitiative
• LinkedInlinkedin.com/company/new-economy-initiative

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments18 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Economy Initiative