|Seed, 10/2013 ||$125k|
Bizdom is startup accelerator that provides seed funding and intense mentorship to entrepreneurs looking to launch and grow innovative tech-based startups in the downtown urban cores of Detroit and Cleveland. Bizdom is a three-month to six month program in both Detroit and Cleveland, each city launching approximately 18 companies annually.
Upon acceptance into the three-month program, Bizdom invests $25,000 in the start-up in exchange for 8% 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. Bizdom also offers the opportunity for startups to pitch for up to a $100K convertible note upon successful completion of the accelerator.