Quicken Loans/Rock Financial Chairman/Founder Dan Gilbert Launches Bizdom U in Detroit

  • January 1, 2007

Detroit, Mich. – Jan. 01, 2007 – A key to economic development in the city of Detroit is entrepreneurship. Entrepreneurs create jobs and growth.

Bizdom U is a two-year program designed by Quicken Loans founder Dan Gilbert to teach future entrepreneurs the types of things one needs to know about starting and running a business. They will become the Green Berets of entrepreneurship … know more about starting a business than even your typical Harvard MBA.

The application and selection process will be rigorous, designed to find those with a true passion, or bug, for starting a business. Candidates should have a natural curiosity and be driven to build something of value.

The curriculum will be rigorous. Students will work hard, be taught by instructors with real business world experience and mentored by highly-successful entrepreneurs from the region.

As their final project, they will develop a realistic and profitable business plan for a business that must be located within the City of Detroit. Those who pass all of the classes and prepare such a plan will receive:

  • Funding from a “Bizdom Fund” over time to start-up the business described in their plan. (Will fund between $25,000 and $500,000, depending on the business.)
  • A share of ownership in the business during the start-up phase.
  • An opportunity to earn a greater share of ownership in the business over a defined period of time as the business meets pre-determined success goals.
  • Mentorship along the way.
  • A diploma.

Bizdom U will be self-sustaining. Any revenues received from our share of ownership in the businesses will be used to finance future businesses created by our graduates. This will create even more growth and jobs for the City of Detroit. We hope to create a whole new wave of entrepreneurs. We have applied for our non-profit status.

The program started with 10 to 20 students in January 2007. Second class in fall 2007 will start with 20 students.
This is a 2-year, full-time, all year-round residential program that will be located in the downtown Detroit area. The program will be located at Wayne State University, but is not affiliated with Wayne State.

Bizdom U is now accepting applications. We are meeting with community leaders and educators to get the word out. Know of a bright person with a drive and bug for business? For more information about the program please call us at 313-833-7800 or email us at getinfo@bizdom.com. Our website is www.bizdom.com.

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About Quicken Loans Inc.

Quicken Loans is the nation’s largest online retail mortgage lender and the country’s 11th largest retail lender overall, closing nearly $18 billion in home loans in calendar year 2006. The company employs more than 4,600 people and has been ranked in the “Top 20” of FORTUNE Magazine’s “100 Best Companies to Work for in America” list for the last four years. For more information, visit www.QuickenLoans.com. To learn about Quicken Loans career opportunities, visit www.QuickenLoansCareers.com.

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