These Sharks Are Kosher
Matchmaking has long been a Jewish pastime, and now there’s also a corporate-funding matchmaker.
A new program called BizTank brings together entrepreneurs and successful Jewish investors. The brainchild of haredi business guru Joel Klein, CEO of IMBC (Immediate Marketing & Business Consulting), BizTank helps budding and expanding companies find funding. Entrepreneurs are invited to submit their pitches for review, and a handful is asked to present to the panel of BizTank business moguls. The entrepreneurs can seek investments from $50,000 to $5,000,000.
If the format sounds familiar, it is, as it’s based on the highly rated TV show “Shark Tank.”
While open to anyone, BizTank is especially beneficial for haredi and ultra-Orthodox Jewish entrepreneurs, who don’t always have traditional business connections and access to capital. Even those who fail to reach a deal can benefit from the coaching and guidance provided by the investors, which can position their businesses for future success.
Those who have succeeded in receiving funding include Jiftcard.com, an innovative universal gift card that allows users to purchase items from a list of participating retailers, and Morning Sickness Soothers, the maker of a new natural morning sickness-relief product.
BizTank’s panel of moguls include David Schottenstein, an Inc. 30 Under 30 Winner, and recipient of Ernst and Young’s Entrepreneur of the Year award, and real estate experts like Danny Lemberg and Anthony Pinkesz.
In the vast universe of Jewish organizational and professional life, BizTank has an important role to play. Not only does it provide real opportunities for businesses to grow, but it showcases to the world the vibrant and innovative minds that create jobs and wealth — not just for the Jewish community, but for anyone willing to work hard and pursue their dreams.
Ronn Torossian is CEO of NYC-based 5WPR.