NCT Ventures Provides Bizdom with a $145,000 Grant for Entrepreneurial Education

CLEVELAND, Nov. 18, 2014 /PRNewswire/ -- Bizdom, an entrepreneurship accelerator founded by Dan Gilbert, announced today that it received a $145,000 grant from NCT Ventures to support its efforts to train and develop entrepreneurs. The accelerator 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.

"This supportive effort made by NCT Ventures is further proof that people are taking notice of the booming tech scene in Cleveland and will allow us to continue developing innovative, growth-based businesses," said Ross Sanders, Executive Director of Bizdom.

NCT Ventures is a Columbus-based venture capital firm specializing in investing in early-stage and early-growth technology companies.

"We are seeing great opportunities to invest in and grow companies in the Cleveland market," said Rich Langdale, Managing Partner, NCT Ventures. "We've made two investments out of Fund I in companies based out of Northern Ohio and have already successfully exited one. We're excited about growing our footprint in the Cleveland area, and Bizdom is a great resource for entrepreneurs starting tech companies in the region."

The grant to Bizdom is the product of a successful partnership between NCT Ventures and the Ohio Third Frontier's Pre-Seed Fund Program, which has helped capitalize dozens of privately managed venture funds around the state for more than a decade. In accordance with the terms of the 2009 grant program, NCT is granting a portion of the profits from its investments that receive grant money to organizations, like Bizdom, that focus on using technology for purposes of economic development.

"The Ohio Third Frontier is one of the state's most successful initiatives to encourage venture capital investments and create jobs in Ohio," said Langdale. "As a result of state-supported funds, Ohio has an increasing number of rapidly growing technology companies that have attracted hundreds of millions of dollars of venture investment to the region."

About NCT Ventures
NCT Ventures is a venture capital firm dedicated to helping entrepreneurs build great companies that solve big world problems. NCT provides a platform for entrepreneurs to succeed in turning their ideas into profitable business models through hands-on operational support. Over the last decade, NCT's team has helped build many successful companies in the Midwest by investing in companies with disruptive business models that create greater efficiency in focus market sectors. NCT's focus areas include: Adtech, Big Data, Communications, Edtech, Energy, Medtech, and Retail Technology. For more information, visit http://www.nctventures.com/.

About Bizdom
Bizdom is an entrepreneurship 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 nonprofit that was founded by Dan Gilbert, Chairman and Founder of Rock Ventures and Quicken Loans and Majority Owner of the Cleveland Cavaliers. For more information, visit http://www.bizdom.com/.

SOURCE Bizdom

Related Links

http://www.bizdom.com