Logicdrop Competes in Detroit Accelerate Michigan Innovation Competition
The year 2016 marked the beginning of a new journey for us at Logicdrop. After years of research and development, our cloud-enabled business intelligence platform was ready to be unleashed on the marketplace. Within the first few months of our advancement, we were recognized as one of the top 35 startups in one of the largest business competitions for Innovation, Accelerate Michigan. The founders of Logicdrop, KimJohn Quinn and Jared Grabill, found themselves showcasing our product and business plans alongside other great innovators that were selected as semi-finalists.
The average cost of starting a software company in Silicon Valley is reportedly 97% more expensive than Detroit.
A great percentage of the companies that competed in Accelerate were attracted to Michigan by not only the lower costs of operating a business, but our now booming startup culture. This has helped many startups move their businesses from New York, Chicago, and other major cities to be a part of this growth. The lower average price of starting or running a business in Detroit, along with the growing number of incubators and accelerators, has greatly helped contribute to the advancement of many businesses, ours included.
According to Automation Alley, a Detroit-based business accelerator, Detroit has the highest concentration of technical jobs in the nation. From jobs at hundreds of different tech and environmentally savvy startups, to jobs at Google, Amazon and Twitter, Detroit has come back full force. We have more technologically focused job growth and higher projected revenue than our counterparts in Silicon Valley.
Detroit has become the new IT city in the nation with lower average rent and a tax burden that is 9.1% lower than Silicon Valley. Just last year, Southeast Michigan had 42% more STEM degree graduates than that of Silicon Valley.
With rapidly increasing talent in Michigan, it is no wonder all of the semi-finalists in Accelerate scored exceptionally high. Every business that competed presented disruptive, scalable solutions that could potentially create massive growth in the many industries they were a part of.
We at Logicdrop are proud to have our roots based in the metro Detroit area. Where we have our pick in a boundless pool of fantastic local talent, while collaborating with many great Detroit based businesses, as well as several national ones. We are also honored to have received such great recognition from Accelerate Michigan.