Raydiant Challenges Local Bay Area Retail Entrepreneurs to Compete for $50K SoMa Real Estate Package
Raydiant is gifting a complimentary pop-up commercial space to a rising Bay Area retail entrepreneur. The “Rising Entrepreneur” contest winner will receive up to 12 months of free real estate in a coveted SoMa location, a full build out, a $10,000 marketing and operations stipend, and the ability to power their business with Raydiant’s innovative in-location experience technology.
Raydiant, the leading in-location Experience Management platform for brick-and-mortar enterprises, announced it will be offering a commercial real estate package valued at $50,000 to a rising Bay Area retail entrepreneur via a Shark Tank-inspired pitch contest.
Now through Monday, April 4th, local entrepreneurs can apply to compete at rise.raydiant.com. Applicants simply need to supply their contact information and submit a <5 minute video speaking to their background, passion for their retail concept, and plans for leveraging the commercial space. Raydiant will host the pitch contest in front of a live panel of judges at their corporate headquarters on Friday, April 15th.
“At Raydiant, we’re deeply committed to showing up for our community of local entrepreneurs. The pandemic has created a lot of heartache and setbacks for restaurant and retail owners trying to get started, and we’re excited to offer a rising retailer the opportunity to open their first space, or to expand their footprint,” shares Bobby Marhamat, CEO at Raydiant. “We’ll offer the commercial real estate, the structural buildout, and funding to help them scale. It’s a win for Raydiant, and for our SoMa community. We’re excited to breathe more life into our neighborhood, especially as residents head back to the office.”
The pop-up real estate offering is valued at over $50,000. The package includes up to a 12-month commercial retail lease at Raydiant’s HQ, 35 Stillman Street, a busy SoMa side street near the Giants stadium and South Park. Raydiant will cover costs associated with the structural build out and work with the chosen entrepreneur to design the layout and aesthetic to their liking. Raydiant will offer the winner a $10,000 stipend to be used towards marketing and operational expenses to get their business up and running, and outfit their retail space with Raydiant-powered tech and digital signage. Raydiant’s platform will empower the chosen retailer to display digital menus, integrate with POS systems, and even power contactless check-out experiences.
Timing couldn’t be better as residents across the Bay Area are being summoned back to their physical workplaces. Companies across the tech sector with SoMa office locations including Google, Uber, Twitter and Wells Fargo are transitioning to hybrid work models, in most cases, requiring a “3:2” schedule – 3 days in the office, and 2 optional work from home.
Marhamat continues, “Before the pandemic, our pocket of SoMa was bustling and thriving. With more companies rallying behind the return to work, including our own SF office, we’re excited for the opportunity – and increased foot traffic – that will come to our contest winner, as well as our hundreds of Raydiant customers who have been hustling to adapt and innovate for the last two years.”
Raydiant’s own Bay Area-based employees have been back in the office since the summer, and are enjoying the camaraderie, speed of decision making, and collaboration that comes with working in-person, safely. According to Marhamat, “We closed our Series B in February and have big ambitions ahead. We just can’t afford to miss out on the massive benefits that come with in-person interactions and relationships. We’re in support of Bay Area tech companies returning to the office safely, and look forward to the positive impact it will have on our Downtown retail providers.”
Raydiant is welcoming entrepreneurs of all sizes across the restaurant and retail space to apply, with the main qualifier being that the applicant has been in business for at least six months. Raydiant will not be able to support a full commercial kitchen buildout, but can support minor kitchen appliances and the infrastructure to sell finished goods onsite.