Entrepreneurs! Submit Ideas for Detroit Transportation Challenge
IdeaMarket announced its launch of the “Detroit Transportation Challenge”, a contest for entrepreneurs with the most innovative transportation-focused idea to receive up to $250,000, mentoring, and be turned into a Detroit-based company. The challenge’s supporting sponsors are Mission Throttle and Invest Detroit.
The Detroit Transportation Challenge model combines aspects of Xprize and business incubator, Idealab and calls on industry thought leaders. IdeaMarket is encouraging entrepreneurs, engineers, designers and creative thinkers to submit a proposal by December 15, 2015 at Ideamarket.com. After all the proposals are reviewed, the challenge will be narrowed down and a winning team will be selected. IdeaMarket will assist the team with becoming a Detroit-based company.
“We understand the enthusiasm of the residents to revolutionize mobility in Detroit,” says Vj Anma, CEO at IdeaMarket. “An efficient public transit system would mean a better economy where adults could get to work, children could get to school and businesses would flourish. We are excited to be able to contribute to Detroit’s success.”
The Detroit Transportation Challenge team views the opportunity as a win-win for Detroiters and the region. With a landmass of 138 square miles and only 5,144 residents per square mile, Detroit is a sprawling urban area where reliable transportation is a basic necessity. In Detroit, 26 percent of residents do not have access to a car, meaning these individuals are reliant on public transportation. While public transportation in other major U.S. cities is a reliable and preferred option for residents and tourists, Detroit’s public transit system has many challenges. It is estimated that about one-third of city buses never leave the garage due to maintenance issues, while inefficient routes, late bus arrivals and poorly placed stations have contributed to a sharp decline of 11 million rides given from 2012 to 2014.
Although the challenge is only scratching the surface of a much larger problem, the hope is that the idea will become a catalyst for progressive movement. IdeaMarket believes that the Detroit Transportation Challenge will not only support Detroit’s current residents, but also attract new residents. They see a future where Detroit’s efficient transportation becomes a model that other cities around the country and the world will look at to replicate.
Entrepreneurs can apply at Ideamarket.com.