DTE

DTE

DTE Energy plans to be a central figure in the new $3 billion Pure Michigan Business Connect initiative, a move that will mean millions of dollars in revenue for local start-ups.

The recently announced initiative pledges millions of dollars from some major local players, ranging fromStage 2 Innovations ($100 million in venture capital) to DTE Energy and its subsidiaries. DTE Energy plans to spend $500 million on goods and services from Michigan-based suppliers. Many of them are expected to be based in Detroit.

"There are a number of partners we would like to do business with that are in the city of Detroit," says Alejandro Bodipo-Memba, spokesperson for DTE Energy. "This also helps us grow more businesses locally."

DTE Energy has done $1.2 billion in business with Michigan-based companies in recent years. Of that 17 percent have been with minority-owned businesses, most of which are based in Detroit.

Pure Michigan Business Connect is a public-private partnership between several state agencies such as the MEDC, Huntington National Bank, Automation Alleyand Export-Import Bank. It will focus on Gov. Rick Snyder's economic gardening policy that helps local businesses grow by connecting them with customers, investors and talent.

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