Bizdom U - FAQs

Q:What will recruits receive upon graduation?
A:
In addition to receiving one year of practical, street-smart, real world training, culminating with the development of a business plan for a Detroit-based business, graduates will receive our facilitation in:
- Obtaining an expected investment into the business likely in the range of between $25,000 to $500,000 invested over time, which may be based on milestones and performance.
- Creating a plan to grow the business providing graduates with increased equity in the business over time.
- A diploma upon graduation.
- The opportunity of a lifetime to contribute to the growth of Detroit.
Q:What must recruits do to graduate from the program?
A:
In order to graduate from the program, recruits must demonstrate:
- The dream and drive to create a Detroit-based business.
- The energy to perform at an extremely high level.
- The ability to complete extensive home work assignments after classes and during program breaks and recesses.
- The desire to create a realistic plan to open a Detroit-based business.
- A huge commitment for one year.
- The desire to participate in the residential program unless granted an exception.
- The ability to graduate from the program, get a business plan approved and get a start-up business funded.
- The willingness to take random drug tests or similar evaluations on an ongoing basis.
Q:What if a recruit fails to meet one of the requirements listed in #2 above?
A:
If at any point a recruit fails to meet one of these requirements, he/she may be dismissed from the program based on the reasonable judgment of Bizdom U.
Q:Who is eligible?
A:
To be eligible for the program, recruits must be at least 18 years old and have at least a high school diploma or GED. Bizdom U is a Michigan nonprofit corporation that admits recruits without regard to race, color, religion, sex, national or ethnic origin, sexual orientation, citizenship, age, mental or physical disabilities, veteran/reserve National Guard or any other similar protected status.
Q:How many people are we looking to enroll in our next class?
A:
Bizdom U is currently planning to enroll between ten and twenty recruits in its next class.
Q:What does Bizdom U pay for? What will recruits pay for?
A:
Bizdom U does not charge tuition and will pay for recruits' housing, meals and training materials. Recruits will also be provided with technologies to use while attending the program. Recruits will pay for all other expenses including phone, cable, necessary insurances, etc. Those recruits granted an exception from participating in our residential program will also be provided with a living stipend.
Q:Are recruits responsible for paying their own insurance?
A:
Yes, recruits are responsible for maintaining their own insurance.
Q:What holidays does Bizdom U celebrate?
A:
Offices will be closed and there will be no classes on:
- Martin Luther King, Jr. Day (1/21/08).
- Memorial Day (5/26/08).
- Independence Day (7/4/08).
- Labor Day (9/1/08).
- Thanksgiving Break (11/27/08 and 11/28/08).
- Winter Holiday (12/24/08 and 12/25/08).
- New Year's Day (1/1/09).
Q:What is Bizdom U's attendance policy?
A:
In accordance with the rigorous nature of the program and the high standards to which recruits will be held, Bizdom U has a strict attendance policy. Recruits are expected to attend all classes, lectures, seminars, meetings, tutorial sessions, etc. without absence. In the event a recruit feels his/her attendance will affect the health of others, the recruit should refrain from attending the activity in question, and should call the Academy Coordinator to report the absence.
Q:What does Bizdom U's residential program provide?
A:
Recruits enrolled in Bizdom U will be provided with housing and meals while living in a residence hall on Wayne State's campus in the cultural district of the City of Detroit.
Q:As residents, will recruits be rooming with others?
A:
Yes, each recruit will share living quarters with up to three others. Most likely each recruit will have his/her own bedroom and will share a central living area and a bathroom.
Q:Can recruits have family members (e.g. spouse, child, parent) participate in the residential program?
A:
No, only Bizdom U recruits are eligible for the residential program.
Q:Are recruits required to participate in the residential program?
A:
Bizdom U wants recruits to participate in the residential program, but a recruit may request a waiver. Waivers may or may not be granted at the discretion of Bizdom U. A living stipend is available for those granted a waiver.
Q:Does the start-up business described in the recruits' plans need to be Detroit-based? What does Detroit-based mean?
A:
Yes, the business headquarters must have a Detroit address and the business must pay city taxes. It also means that Detroit residents will have equal access to the services and/or products as consumers.
Q:What if Bizdom U dismisses a recruit from the program or he/she voluntarily drops out of the program? Can the recruit get back in?
A:
He/she can reapply for any future available Bizdom U programs but there is no guarantee of readmission.
Q:Where is Bizdom U located?
A:
The Bizdom U classroom, residences and staff offices will reside on Wayne State University’s campus in the cultural district of the City of Detroit.
Q:Is Bizdom U a nonprofit organization?
A:
Bizdom U is a Michigan nonprofit corporation and has tax exempt status under section 501(c)(3) of the Internal Revenue Code.
Q:Do the same rules that apply to previous classes apply to classes in the future?
A:
Not necessarily. The information provided in these frequently asked questions and on all of the other Bizdom U materials including the website pertains to the current class. Information may vary for the class planned to start in the future.
Q:Can any of the information provided about Bizdom U change?
A:
Yes, the information provided in these frequently asked questions and on all other Bizdom U materials, including the website, is likely to change. The information provided represents plans at this point in time.