DETROIT — The entrepreneurship accelerator Bizdom is on the hunt for the next generation of businesses.
Bizdom is accepting applications for its April 2012 accelerator session, a three month program that mentors and funds aspiring entrepreneurs to launch and grow successful tech-based start-ups in Detroit and Cleveland.
“Bizdom is looking for passionate, dedicated individuals to be successful entrepreneurs,” said Bizdom CEO Ross Sanders. “The ideal candidate has an idea or early stage start-up that is web or tech-based, scalable, and can get to beta, prototype or first customer within three months.”
Launched in 2007 by Quicken Loans founder and chairman, and Cleveland Cavaliers majority owner, Dan Gilbert, the nonprofit Bizdom was conceived to create a thriving, entrepreneurial core of tech-based start-up businesses in the downtowns of Detroit and Cleveland.
Upon completion of a comprehensive application process and acceptance into the three month program, Bizdom invests up to $25,000 in seed funding in the start-up in exchange for eight percent equity. This provides entrepreneurs with the initial seed funding to build their product or service, market it to customers, and grow the business to a scale that merits further investment.
Throughout the three month accelerator, each startup receives intense mentorship and guidance from numerous experts in the area of sales, marketing and technology from Quicken Loans’ extensive network and family of companies. At the end of the three months, entrepreneurs will have the opportunity to pitch investors for the funding necessary to take their business to the next level.
“Bizdom is a nonprofit that uses the proceeds from its share of ownership in the businesses to sustain its operations and seed future Detroit and Cleveland-based startups. Entrepreneurs are provided with a cool and collaborative workspace,” said Sanders.
The application deadline for joining Bizdom’s April 2012 accelerator session is March 23, 2012 for Detroit and Cleveland. Entrepreneurs interested in getting more information or applying can visit www.bizdom.com or contact Bizdom Detroit at (313) 833-7800 or Bizdom Cleveland at (216) 586-8985.