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15 Detroit entrepreneurs to compete for shares of 1 2 million at Detroit Demo Day

Out of nearly 500 applications, 15 finalists were selected to go head-to-head for a slice of a $1.2 million funding pie at Quicken Loans Detroit Demo Day next week.

Detroit entrepreneurs, vying for shares ranging from $50,000 to $300,000, will get a chance to pitch in front of an audience om June 14 at The Fillmore in Detroit, according to a Tuesday news release.

The finalists will compete for seven awards in the form of grants, interest-free loans or equity investments in three categories: Start, Grow and Scale. One small business per category will land a $25,000 people's choice award, the release said.