- Advocate for equitable funding opportunities for Black and Brown founders in Michigan to create a more inclusive entrepreneurial landscape, tackle systemic challenges, and ensure sustainable progress for all.
- Collaboration among government, philanthropic organizations, and the business sector will help bolster early-stage investments and drive growth in Michigan’s innovation ecosystem.
A Conversation With Nia Batts and Dennis W. Archer Jr.
January 25, 2025
Key Takeaways
View the full session recording below.
During the 2025 Detroit Policy Conference, Union Heritage’s Nia Batts sat down with Sixteen42 Ventures’ Dennis W. Archer Jr. to discuss inter-generational and legacy businesses and the transition from public market to private market investment.
On Supporting Underrepresented Founders and Startups
The two discussed the lack of opportunities for minority organizations to secure funding and how to solve that problem. Batts emphasized the importance of having a strong and diverse pool of founders and startups for Michigan’s growth, which she said is the “nuanced conversation that oftentimes people don’t want to step into.”
“If we want to stay on the momentum, we have to pay attention to who is getting the funding … when we think about Detroit, which is over 80% black, … you find that there are challenges to access capital and mentorship … part of it is listening and learning the friction in the process,” she said. “If we don’t and decide to ignore the data, the gaps in funding for Black and Brown funders will be greatest where they are most prevalent. We have to make sure that founders are being supported and allocators are being supported as well.”
On Revisiting Policy and Fostering Cooperation for Michigan’s Growth
Batts and Archer also discussed the importance of revisiting policy by examining successful models in other states where there is cooperation between state government and other sectors. Batts said she has played an active “solutions-oriented” role in how to grow Michigan’s ecosystem, including testifying in the Michigan House Economic Development and Small Business Committee and celebrating the wins, like the Michigan Innovation Fund.
“But if you look at other states that are doing better, there is that cooperation between state government, maybe some local government, philanthropy, and the business community where you have the significant business players writing big checks to early-stage companies and seed an early-stage round,” she said. “I think anyone that works in this ecosystem would say $60 million is a decent start, but it’s not $500 million, which is probably what we really need.”
She emphasized the significance of ongoing efforts and expressed a positive outlook toward continuous improvement within the ecosystem, noting the collective effort required moving forward.
“We’re always going to be behind if we don’t take those big swings,” she said. “We have to free ourselves from the cycle and think, do we think the problems are urgent …and what do we need to do about it?”