Bizdom is an entrepreneurship accelerator that helps launch, fund and grow innovative web -- or tech-based startups in downtown Cleveland and downtown Detroit. Bizdom, a non-profit, was founded by serial entrepreneur Dan Gilbert, Founder and Chairman of Rock Ventures and Quicken Loans, Majority Owner of the Cleveland Cavaliers, and General Partner at Detroit Venture Partners. Dan created Bizdom with the belief that it is necessary for Detroit and Cleveland to redefine themselves with strong urban cores and as hubs of technology and entrepreneurship.
The application process for Bizdom is rigorous and designed to find those with the tenacity, leadership ability and skill set needed for launching a tech-based, scalable startup. The ideal candidate has an idea or early stage startup that is web- or tech-based, scalable and can get to beta, prototype or first customer within three months. Upon acceptance into the program, Bizdom invests up to $25,000 in seed funding in the startup in exchange for eight percent equity.
Throughout the program, each startup receives intense mentorship and guidance from numerous experts from Quicken Loans’ extensive network and family of companies in the area of sales, marketing and technology. At the end of the three months, companies may be introduced to outside investors who could provide the funding necessary to take these businesses to the next level.
Bizdom also provides entrepreneurs with dynamic, engaging and collaborative workspaces. In fact, the organization’s Cleveland headquarters reflect its commitment to revitalizing the city’s urban core: The 7,000-square-foot space is inside the 250 Huron Building right in the heart of downtown.
In addition, Bizdom regularly hosts educational and networking events, including ReBootCLE where Bizdom and The Cleveland Professional 20 / 30 Club provide a high-energy environment for Cleveland-area entrepreneurs to help push businesses closer to launch.
"Our goal is to help transform Cleveland and Northeast Ohio into a vibrant hub of technology entrepreneurship and business formation by investing in founders with uncommon passion and abilities,” -- Paul Allen, Bizdom Cleveland Leader.