The pilot program is officially launched on July 12, 2011, at the A. Alfred Taubman Center for Design Education in the New Center area of Detroit.

First Element and the other participating businesses will receive mentoring and consulting support. DC3 is looking for grants, loan guarantees, or other channels of financial support for the businesses.

DC3 is working with businesses at TechTown for help with mentoring and consulting, while the College for Creative Studies will provide access to studios, prototyping equipment, and other hands-on resources.

Identifying new markets, increasing capacity, and providing access to tooling and collaborative workspace for sales meetings are also to be a part of the program.

The goal is for the businesses to emerge from the program ready to occupy space in downtown, Midtown or the New Center corridor.

The Creative Ventures Acceleration Program is the culmination of the primary work that DC3 has been doing since its inception in February 2010, when Business Leaders for Michigan formed it as the final portion of an economic development plan for the region. That plan was launched in 2006 by Business Leaders’ predecessor organization, Detroit Renaissance Inc.

To read more about the Creative Ventures Acceleration Program and First Element’s participation, check out the following coverage:

Wall Street Journal

Detroit News

Detroit Free Press

Detroit Free Press additional

Chicago Tribune

Crain’s Detroit

MLive

MLive additional

Model D Media

LiveWork Detroit, a new program sponsored by the Michigan Economic Development Corp., took five busloads of students to city landmarks such as Eastern Market, the Detroit Institute of Arts and Midtown clothing boutiques in a pitch for the Motor City.

The students, mostly from the University of Michigan and Michigan State University, toured the city’s apartments and lofts as part of a daylong tour that culminated with the main attraction for the students — an early evening networking event with Detroit employers at the Compuware Building. Employers included Quicken Loans Inc., Compuware Corp. and the law firm of Honigman Miller Schwartz and Cohn.

“People want to stay here,” said Stefanie Ridenour, who headed the project for the MEDC. “They want to work in the state they grew up in and not have to leave to find a great job.”

City boosters have developed several programs in recent years aimed at attracting young adults to Detroit and assisting new business ventures, said Sue Mosey, president of the University Cultural Center Association in Midtown. These include programs for entrepreneurs and a cash and loan forgiveness incentive initiative by Wayne State University, the Detroit Medical Center and Henry Ford Hospital to encourage people to rent or purchase a home in Midtown.

Despite being transported from Ann Arbor and East Lansing, many students wore suits — and anxious smiles — in anticipation of meeting the employers.

“I’d like to move to the city, but I need a job,” said University of Michigan senior Dev Kapoor, who is looking for work in the sports or entertainment industries.

Kapoor, who grew up near Jackson, said he was surprised by Detroit’s offerings and the beauty of the art deco Guardian Building on Griswold Street downtown.

“You can see there’s a lot of hope and opportunity here,” he said, “but it’s going to require a lot of work.”

The LiveWork program was a long time coming for Jeanette Pierce of Inside Detroit, which led the tours Friday.

“We’ve been trying to get college folks to realize how awesome Detroit is,” Pierce said.

“Just by getting beyond Comerica Park and taking the time to look, they can start to see themselves living here.”

It’s a good match for the students, including many who are graduating in May and hope to have a job in hand.

“The main reason I came is for the networking,” said Jeremy Mollner, a senior studying finance at Western Michigan University.

“Just to meet the companies and see the job opportunities out there.”

The recruitment trip comes three days after the U.S. Census Bureau reported that Detroit suffered a 25 percent decline in population to 714,000 residents in 2010 from 951,000 in 2000.

The program’s goal is to attract, retain and develop talent, the MEDC’s Ridenour said.

“It’s so critical that companies have the talent they need,” she said.

“We want to show that you can stay in Michigan and work for an amazing world-class company right in downtown Detroit.”

The students came from 20 schools, including Carnegie Mellon in Pittsburgh. Many had been to Detroit before but said they weren’t aware of the restaurants, shops and institutions the city has to offer.

“I knew that Midtown was developing,” said Eric Jones, a senior at Michigan State University, “but I didn’t know all these cool little shops existed.”