Why Detroit’s Black Tech Saturday Matters

Black Tech Saturday is part of a broader renaissance centered around Michigan Central, a subsidiary of Ford and part of the automaker’s commitment to rebuild and repurpose the 111-year-old Detroit train station that lay in near ruin for decades.?

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Newlab at Michigan Central so far has attracted 20 VCs with $639 million available to invest and $1.7 billion in assets under management, who have set up shop onsite alongside 93 startups that have raised $616 million in venture capital. That’s equal to half of all the venture capital raised in Michigan in 2022, according to Michigan Central tally. The majority of startups are led by at least one under-represented founder. And it’s gotten noticed. Read the full story.

Quick Hits

• ?Cities are using artificial intelligence to help ambulances and firetrucks arrive faster.
• A mainstay since the ‘70s, employee resource groups are caught up in the battle against woke capitalism.
• Bankers are applying the idea of a “breakup fee,” a longtime fixture in corporate takeovers, to a very different kind of acquisition target: each other.

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