Entrepreneurs + Innovators
The inaugural Great Lakes Venture Fair will take place at the Cleveland Marriott Downtown October 17-18, on the heels of the National Association of Seed and Venture Funds annual conference. The fair is a collaborative effort between JumpStart, Ohio Capital Fund, Ohio Venture Association, TiE Ohio, CincyTech and TechColumbus and will bring together investors and startups from across the Midwest.
“It’s a chance for the venture capital community to come together and see some of the most promising startups,” explains Carolyn Pione Micheli, director of communications for CincyTech. “According to a study by the Kauffman Foundation, in 2007 all net news job growth came from companies that are less than five years old.” The event is the successor to the Ohio Capital Fund’s Early Stage Summit, which was held in Columbus for seven years.
The GLVF will only accept 18 startup companies in bioscience and IT to pitch their companies to investors. Other activities at the event include presentations on regional investment activity, and conversations about building future growth in startups and investing.
“In terms of growing fresh new jobs, small companies are the key, “ says Micheli. “The startup community is really important to our economic future.”
Keynote speaker will be Jeff Weedman, vice president of global business development for Proctor & Gamble. The application deadline for companies looking for funding is Aug. 12. Registration to attend is $200 before Sep. 15, $250 after that.
Source: Carolyn Pione Micheli
Writer: Karin Connelly
“It’s a chance for the venture capital community to come together and see some of the most promising startups,” explains Carolyn Pione Micheli, director of communications for CincyTech. “According to a study by the Kauffman Foundation, in 2007 all net news job growth came from companies that are less than five years old.” The event is the successor to the Ohio Capital Fund’s Early Stage Summit, which was held in Columbus for seven years.
The GLVF will only accept 18 startup companies in bioscience and IT to pitch their companies to investors. Other activities at the event include presentations on regional investment activity, and conversations about building future growth in startups and investing.
“In terms of growing fresh new jobs, small companies are the key, “ says Micheli. “The startup community is really important to our economic future.”
Keynote speaker will be Jeff Weedman, vice president of global business development for Proctor & Gamble. The application deadline for companies looking for funding is Aug. 12. Registration to attend is $200 before Sep. 15, $250 after that.
Source: Carolyn Pione Micheli
Writer: Karin Connelly
In the best of cases, getting a book published can take one to three years from start to finish. Or, you can do it the way Richey Piiparinen and Anne Trubek did with Rust Belt Chic: The Cleveland Anthology. The pair of Cleveland writers managed to compress the entire Sisyphean process into an implausible three-month timeframe.
Until recently, there was a void in Cleveland's art scene: the lack of a community darkroom, studio and photographic gallery. That will change with the opening of Cleveland Print Room, an educational organization located in the ArtCraft Building.
The organization "aspires to build awareness and foster appreciation for fine art, hand-processed photography," according to its Facebook page. Cleveland Print Room will offer workshops, affordable work space and collaborative exhibition space. Its members are devotees of shooting and printing film manually.
"When my daughter began looking for photography classes to take around 2005, we found that high schools, arts centers and universities and colleges were actively disassembling or downsizing their darkroom facilities," explains Shari Wilkins, founder of Cleveland Print Room. "This is a troubling trend and we lamented the lost possibilities. When one of the local art centers began selling off their art supplies and photography equipment, we were there, buying the photo equipment up. At that time, we were not even really sure why we were doing this."
Yet that prescient moment led to the creation of the Print Room. "After researching the need in the gap in services along with the resurgence of 20th century emulsion-based photography, it was an easy decision," she says.
Members will have full access to the space nearly 24 hours per day, and there will be a darkroom, studio and exhibition space. Wilkins hopes to be open by the fall.
The venue is located at 2550 Superior in a building rife with studios and galleries.
Source: Cleveland Print Room
Writer: Lee Chilcote
The organization "aspires to build awareness and foster appreciation for fine art, hand-processed photography," according to its Facebook page. Cleveland Print Room will offer workshops, affordable work space and collaborative exhibition space. Its members are devotees of shooting and printing film manually.
"When my daughter began looking for photography classes to take around 2005, we found that high schools, arts centers and universities and colleges were actively disassembling or downsizing their darkroom facilities," explains Shari Wilkins, founder of Cleveland Print Room. "This is a troubling trend and we lamented the lost possibilities. When one of the local art centers began selling off their art supplies and photography equipment, we were there, buying the photo equipment up. At that time, we were not even really sure why we were doing this."
Yet that prescient moment led to the creation of the Print Room. "After researching the need in the gap in services along with the resurgence of 20th century emulsion-based photography, it was an easy decision," she says.
Members will have full access to the space nearly 24 hours per day, and there will be a darkroom, studio and exhibition space. Wilkins hopes to be open by the fall.
The venue is located at 2550 Superior in a building rife with studios and galleries.
Source: Cleveland Print Room
Writer: Lee Chilcote
Startup Lakewood is looking for new businesses and the organization is willing to help entrepreneurs take their ideas to fruition. The second annual Ideation Challenge showcases the new ideas and new business startups that will add to the diversity of the Lakewood business community.
“We think there are all sorts of people right here in Lakewood who have ideas for businesses but haven’t taken the steps to launch them,” says Mike Belsito, Lakewood’s entrepreneur-in-residence and director of the Ideation Challenge. “New businesses are important to the city, and this is one way to help people actually get started.”
Anyone with a business idea can submit an executive summary and a one- to two-minute elevator pitch for a chance to win a prize package that includes consulting, training and other resources for starting a new business. “The prizes will help the entrepreneurs take the next steps and take their ideas into reality,” says Belsito.
Two winners will be chosen -- one from Lakewood and one from Northeast Ohio. All entrants will receive feedback from Startup Lakewood. The competition is open to anybody, with the hope that the winners will start their businesses in Lakewood.
The deadline to submit executive summaries was recently extended to August 14. Startup Lakewood will then invite finalists by August 17 to make their elevator pitches on August 28 at University of Akron’s Lakewood Campus.
Source: Mike Belsito
Writer: Karin Connelly
“We think there are all sorts of people right here in Lakewood who have ideas for businesses but haven’t taken the steps to launch them,” says Mike Belsito, Lakewood’s entrepreneur-in-residence and director of the Ideation Challenge. “New businesses are important to the city, and this is one way to help people actually get started.”
Anyone with a business idea can submit an executive summary and a one- to two-minute elevator pitch for a chance to win a prize package that includes consulting, training and other resources for starting a new business. “The prizes will help the entrepreneurs take the next steps and take their ideas into reality,” says Belsito.
Two winners will be chosen -- one from Lakewood and one from Northeast Ohio. All entrants will receive feedback from Startup Lakewood. The competition is open to anybody, with the hope that the winners will start their businesses in Lakewood.
The deadline to submit executive summaries was recently extended to August 14. Startup Lakewood will then invite finalists by August 17 to make their elevator pitches on August 28 at University of Akron’s Lakewood Campus.
Source: Mike Belsito
Writer: Karin Connelly
Eight years ago Alon Weiner and Ram Tamir were in the offset printing business, doing flyers and newspaper inserts. But the two of them imagined something bigger – in print format, that is. So, in January 2004, the two founded Post-Up Stand, a large format printing company that does everything from banners and tablecloths to retractable display banners that roll up and down in seconds.
“As we looked to diversify the business, we checked the large format printing opportunity,” says Weiner. “After a short time with one large format printer, we realized that this market had much bigger growth potential than offset.”
Weiner and Tamir eventually shut down the offset side of the business completely and focused on the large format. “The nice thing about our product is that any business, from mom-and-pop shops to Fortune 500 companies can use them,” says Weiner. “We manufacture for trade shows, retail store displays and non-profits.”
Post-Up Stand started in a 500-square-foot office in Valley View with one employee. Today the company has 49 employees and has grown into a 30,000-square-foot facility in Maple Heights.
Post-Up Stand has customers across the country, and they are known for quality work done fast. “Everything we do here is custom,” says Weiner. “We keep our technology top of the line. No lens is more than three years old. If we don’t like it, we reprint it.”
Weiner credits his customers with Post-Up Stand’s success. “I try to see everything through the customer’s eye,” he says. “Everybody here, no matter what you do, you’re in customer service. We invest a lot in customer service. A lot of returning customers recommend us. Word of mouth is a great tool for us to grow.”
Source: Alon Weiner
Writer: Karin Connelly
“As we looked to diversify the business, we checked the large format printing opportunity,” says Weiner. “After a short time with one large format printer, we realized that this market had much bigger growth potential than offset.”
Weiner and Tamir eventually shut down the offset side of the business completely and focused on the large format. “The nice thing about our product is that any business, from mom-and-pop shops to Fortune 500 companies can use them,” says Weiner. “We manufacture for trade shows, retail store displays and non-profits.”
Post-Up Stand started in a 500-square-foot office in Valley View with one employee. Today the company has 49 employees and has grown into a 30,000-square-foot facility in Maple Heights.
Post-Up Stand has customers across the country, and they are known for quality work done fast. “Everything we do here is custom,” says Weiner. “We keep our technology top of the line. No lens is more than three years old. If we don’t like it, we reprint it.”
Weiner credits his customers with Post-Up Stand’s success. “I try to see everything through the customer’s eye,” he says. “Everybody here, no matter what you do, you’re in customer service. We invest a lot in customer service. A lot of returning customers recommend us. Word of mouth is a great tool for us to grow.”
Source: Alon Weiner
Writer: Karin Connelly
Voss Industries, an employee-owned aerospace and industrial applications company on West 25th Street in Ohio City, is replacing all the windows on its century-old building -- all 650 of 'em.
The investment will help the company to make key improvements to its headquarters on Cleveland's near west side, where it has been since 1957.
"It's been a rather long project," says Voss President and CEO Dan Sedor with a chuckle. "It's a 100-year-old building, so we're refacing it. What's going on in Ohio City is definitely a renaissance, and our company wants to play a small part in it."
"Small" is not the word that accurately describes the outsized ambitions of this half-century-old company that occupies 240,000 square feet in Ohio City, however. Voss has experienced 20-percent growth annually for the past several years, and has hired 80 workers in the last two years alone. The progress, says Sedor, is due to the improving economy and Voss's competitiveness in the marketplace.
"We're a metal manipulator -- we bend it, roll it, stamp it and machine it," says Sedor. "We've been steadily gaining market share by diversifying the markets we serve and also by providing engineering solutions to many of our customers."
Voss has more than 330 employees. Sedor says he likes Ohio City because it offers a convenient, centralized location for employees, who live throughout the region.
Source: Dan Sedor
Writer: Lee Chilcote
The investment will help the company to make key improvements to its headquarters on Cleveland's near west side, where it has been since 1957.
"It's been a rather long project," says Voss President and CEO Dan Sedor with a chuckle. "It's a 100-year-old building, so we're refacing it. What's going on in Ohio City is definitely a renaissance, and our company wants to play a small part in it."
"Small" is not the word that accurately describes the outsized ambitions of this half-century-old company that occupies 240,000 square feet in Ohio City, however. Voss has experienced 20-percent growth annually for the past several years, and has hired 80 workers in the last two years alone. The progress, says Sedor, is due to the improving economy and Voss's competitiveness in the marketplace.
"We're a metal manipulator -- we bend it, roll it, stamp it and machine it," says Sedor. "We've been steadily gaining market share by diversifying the markets we serve and also by providing engineering solutions to many of our customers."
Voss has more than 330 employees. Sedor says he likes Ohio City because it offers a convenient, centralized location for employees, who live throughout the region.
Source: Dan Sedor
Writer: Lee Chilcote
Coworking is a growing trend whereby freelancers, telecommuters and other mobile workers share space to lessen the costs of facilities and equipment. In Cleveland, The Open Office and Cowork Cleveland are attracting non-traditional workers who are tired of the isolation of working from home or the distractions of jockeying for an outlet at the local coffee shop.
The Kamm's Corners neighborhood, chock full of Irish pubs, small shops and dive bars, doesn't set out to lure chain restaurants. Yet it's a nice complement, nonetheless, when those companies decide the area has the right demographics to make it desirable to set up shop.
Recently, Chipotle decided to open a new restaurant in a former Kentucky Fried Chicken at 16729 Lorain Avenue. The building had become a bit of an eyesore since closing. Chipotle will renovate the structure, eliminate the drive-through and replace the asphalt front driveway with a landscaped patio that faces Lorain.
"A lot of new businesses have come into Kamm's Corners since the City of Cleveland completed a $12 million streetscape project three years ago," says Steve Lorenz, Executive Director of Kamm's Corners Development Corporation. He cites at least 15 new businesses as well as multiple storefront renovations in that time.
The streetscape project has made the heart of Kamm's Corners -- near the intersection of Lorain and Rocky River Drive -- significantly more attractive and pedestrian-friendly. The re-do spurred additional traffic and investment by restaurant and shop owners. Additionally, residents, business owners and the development corporation have now partnered to put on the Hooley, an annual festival.
"It's nice to see that Chipotle feels we have the target demographics to support their business," says Lorenz. Construction is expected to start this summer.
Source: Steve Lorenz
Writer: Lee Chilcote
Recently, Chipotle decided to open a new restaurant in a former Kentucky Fried Chicken at 16729 Lorain Avenue. The building had become a bit of an eyesore since closing. Chipotle will renovate the structure, eliminate the drive-through and replace the asphalt front driveway with a landscaped patio that faces Lorain.
"A lot of new businesses have come into Kamm's Corners since the City of Cleveland completed a $12 million streetscape project three years ago," says Steve Lorenz, Executive Director of Kamm's Corners Development Corporation. He cites at least 15 new businesses as well as multiple storefront renovations in that time.
The streetscape project has made the heart of Kamm's Corners -- near the intersection of Lorain and Rocky River Drive -- significantly more attractive and pedestrian-friendly. The re-do spurred additional traffic and investment by restaurant and shop owners. Additionally, residents, business owners and the development corporation have now partnered to put on the Hooley, an annual festival.
"It's nice to see that Chipotle feels we have the target demographics to support their business," says Lorenz. Construction is expected to start this summer.
Source: Steve Lorenz
Writer: Lee Chilcote
As a designer and illustrator, Nick Pavlak sees the artistic elements of creating a successful business. From website design to a company logo, he founded BABL Media in April 2011 around the philosophy that art, design and creative thinking can build a better business.
That thought proved to be accurate. A little over a year later, BABL Media has made a reputation for itself, especially among startup companies. “Typically, we work with startups with planning, design, and social media,” Pavlak, who is the company’s creative director, says. “We work with them on logo, color palettes and everything associated with their brand.”
Pavlak started BABL Media based on his graphic design background. “When we started I discovered everyone needs a website,” he recalls. But he soon realized he needed a little more. So when he ran into college friend Robert Clark at a Rochester Institute of Technology reunion, Pavlak asked Clark to join the company as the master developer. Soon after, Andrew Wozniak joined the team as art director. “He’s very good at handling the details,” says Pavlak. This summer, BABL Media was able to hire two paid interns to work on development.
Pavlak and Clark have gone on to form FounderSync with two other partners, a matchmaking site for entrepreneurs. The concept is to pair up entrepreneurs with different skill sets to help each other succeed. Both companies are based out of LaunchHouse.
"Our long term goals for the company are to continue to grow and develop our own process and team so as we can build and innovate great ideas," adds Pavlak. "The more brilliant people we can put together, the more amazing products and technologies we can bring to market. Our end goal is to find the one (or several hopefully) disruptive and ground breaking products that can actually change the world for the better."
Source: Nick Pavlak
Writer: Karin Connelly
That thought proved to be accurate. A little over a year later, BABL Media has made a reputation for itself, especially among startup companies. “Typically, we work with startups with planning, design, and social media,” Pavlak, who is the company’s creative director, says. “We work with them on logo, color palettes and everything associated with their brand.”
Pavlak started BABL Media based on his graphic design background. “When we started I discovered everyone needs a website,” he recalls. But he soon realized he needed a little more. So when he ran into college friend Robert Clark at a Rochester Institute of Technology reunion, Pavlak asked Clark to join the company as the master developer. Soon after, Andrew Wozniak joined the team as art director. “He’s very good at handling the details,” says Pavlak. This summer, BABL Media was able to hire two paid interns to work on development.
Pavlak and Clark have gone on to form FounderSync with two other partners, a matchmaking site for entrepreneurs. The concept is to pair up entrepreneurs with different skill sets to help each other succeed. Both companies are based out of LaunchHouse.
"Our long term goals for the company are to continue to grow and develop our own process and team so as we can build and innovate great ideas," adds Pavlak. "The more brilliant people we can put together, the more amazing products and technologies we can bring to market. Our end goal is to find the one (or several hopefully) disruptive and ground breaking products that can actually change the world for the better."
Source: Nick Pavlak
Writer: Karin Connelly
“By 2015, more people will access the web from their smartphone than from their desktops and laptops,” says EXP president Barb Cagely. In Cleveland, numerous app developers are ahead of the curve, dreaming up mobile apps that do everything from enrich your tourism experience to making sure workers in the field have all the resources they need.
In a wide open office at MAGNET, a manufacturing advocacy organization situated on the Cleveland State University campus, groups of students are fomenting new ideas. They include an innovative pothole patch, social media tools for landlords, an information technology startup and a biofuels company.
These emerging entrepreneurs have found a new launching pad in The Beta Space, a business incubator and coworking space that offers entrepreneurial support, mentoring and advice from industry experts at MAGNET. David Crain, Director of Entrepreneurial Services at MAGNET, says that he came up with the idea as a way to help student entrepreneurs start companies in Cleveland.
"Students are comfortable starting businesses in their dorm rooms, and yet while they might hear of all these great resources within the region, they're often not sure where to go," says Crain. "Once you have a relationship with someone here, it's really easy to walk down the hallway, ask a question and get an answer."
Students admitted into the Beta Space program have access to a wide array of resources at their fingertips. Not only can they use the physical space anytime they want, but they also have access to coaching services from MAGNET's mentors. Finally, they can brainstorm with other student entrepreneurs.
"We coach them on what they're up against and help them put together a business plan," says Crain. "The entrepreneurial education taking place at the college level is starting to have an impact, and we're seeing a quantum leap in student ideas."
The Beta Space also offers free legal, finance and marketing advice to any entrepreneur, a resource that Crain says is unavailable elsewhere.
Source: Dave Crain
Writer: Lee Chilcote
These emerging entrepreneurs have found a new launching pad in The Beta Space, a business incubator and coworking space that offers entrepreneurial support, mentoring and advice from industry experts at MAGNET. David Crain, Director of Entrepreneurial Services at MAGNET, says that he came up with the idea as a way to help student entrepreneurs start companies in Cleveland.
"Students are comfortable starting businesses in their dorm rooms, and yet while they might hear of all these great resources within the region, they're often not sure where to go," says Crain. "Once you have a relationship with someone here, it's really easy to walk down the hallway, ask a question and get an answer."
Students admitted into the Beta Space program have access to a wide array of resources at their fingertips. Not only can they use the physical space anytime they want, but they also have access to coaching services from MAGNET's mentors. Finally, they can brainstorm with other student entrepreneurs.
"We coach them on what they're up against and help them put together a business plan," says Crain. "The entrepreneurial education taking place at the college level is starting to have an impact, and we're seeing a quantum leap in student ideas."
The Beta Space also offers free legal, finance and marketing advice to any entrepreneur, a resource that Crain says is unavailable elsewhere.
Source: Dave Crain
Writer: Lee Chilcote
The Capital Continuum in Northeast Ohio on Thursday, August 2 will feature a panel discussion to help entrepreneurs find ways to access capital for their businesses.
“I believe we’ve created an ecosystem in Northeast Ohio to help entrepreneurs, both public and private,” says Dennis Cocco, manager of the JumpStart Entrepreneurial Network, manager of the Innovation Fund and associate director at Great Lakes Innovation and Development Enterprise (GLIDE). “Entrepreneurship is doing really great in this region, but accessing capital is not the first thing people think about when starting a business.”
A lot of local entrepreneurs are not aware of the funding resources that are available in the area. The Continuum is designed to illustrate all that is out there. “Here we have precious capital we’re trying to dole out to the best entrepreneurs,” says Cocco. “But they’re not like banks, which have big buildings with their names on every corner. It would be a shame if people with a good idea fail because they don’t know we’re out there.”
Panel members include Cocco, Ken Marblestone, president, Charter One and RBS Citizens; Daniel Kellogg, managing director, Crystal Venture Funds; Claiborne Rankin, manager of North Coast Angel Fund; and Jerry Frantz, managing venture partner with JumpStart.
The free event will be held at JumpStart’s offices. Cocco says about 30 people have already signed up and he hopes for 50 or 60. “If 100 show up I’ll be really pleased,” he says.
Registration is required.
Source: Dennis Cocco
Writer: Karin Connelly
“I believe we’ve created an ecosystem in Northeast Ohio to help entrepreneurs, both public and private,” says Dennis Cocco, manager of the JumpStart Entrepreneurial Network, manager of the Innovation Fund and associate director at Great Lakes Innovation and Development Enterprise (GLIDE). “Entrepreneurship is doing really great in this region, but accessing capital is not the first thing people think about when starting a business.”
A lot of local entrepreneurs are not aware of the funding resources that are available in the area. The Continuum is designed to illustrate all that is out there. “Here we have precious capital we’re trying to dole out to the best entrepreneurs,” says Cocco. “But they’re not like banks, which have big buildings with their names on every corner. It would be a shame if people with a good idea fail because they don’t know we’re out there.”
Panel members include Cocco, Ken Marblestone, president, Charter One and RBS Citizens; Daniel Kellogg, managing director, Crystal Venture Funds; Claiborne Rankin, manager of North Coast Angel Fund; and Jerry Frantz, managing venture partner with JumpStart.
The free event will be held at JumpStart’s offices. Cocco says about 30 people have already signed up and he hopes for 50 or 60. “If 100 show up I’ll be really pleased,” he says.
Registration is required.
Source: Dennis Cocco
Writer: Karin Connelly
A new development of luxury, green-built townhomes in Lakewood overlooking the Rocky River have beat the housing bust, selling 12 of 17 units before the curtains have even been hung in the model suite.
Abode Living, the developer of Clifton Pointe, held a groundbreaking ceremony last month and expects to complete construction on the spoken-for townhomes this winter. Buyers will be living in their new townhomes in time to take advantage of the Rocky River Reservation Metroparks amenities next year.
Developer Andrew Brickman of Abode Living attributes the success of Clifton Pointe to offering a high-quality product that attracts urban-oriented buyers.
"This is how people want to live today," says Brickman, who is also developing 11 River in Rocky River and 27 Coltman in Little Italy. "They're tired of urban sprawl and living in places like Strongsville and Avon Lake and Twinsburg. If you look around the country, there's a strong trend of people moving back to cities."
You can think of Clifton Pointe as an un-gated luxury community, Brickman says. The eco-friendly units will offer a communal kayak, onsite recycling program and sustainable landscaping that is low-maintenance and doesn't need extra watering.
For buyers who think they can't afford riverfront living, Brickman has a message: Do the math. With prices starting at $340,000, a 10-year tax abatement, and interest rates below four percent, purchasers end up with a monthly payment of about $1,300 per month -- less than the cost of a swank two-bedroom apartment, he quips.
"We're trying to open it up," he says. "This is what new urbanism is all about. We tore down three old houses and are creating a $10 million-plus new project."
Source: Andrew Brickman
Writer: Lee Chilcote
Abode Living, the developer of Clifton Pointe, held a groundbreaking ceremony last month and expects to complete construction on the spoken-for townhomes this winter. Buyers will be living in their new townhomes in time to take advantage of the Rocky River Reservation Metroparks amenities next year.
Developer Andrew Brickman of Abode Living attributes the success of Clifton Pointe to offering a high-quality product that attracts urban-oriented buyers.
"This is how people want to live today," says Brickman, who is also developing 11 River in Rocky River and 27 Coltman in Little Italy. "They're tired of urban sprawl and living in places like Strongsville and Avon Lake and Twinsburg. If you look around the country, there's a strong trend of people moving back to cities."
You can think of Clifton Pointe as an un-gated luxury community, Brickman says. The eco-friendly units will offer a communal kayak, onsite recycling program and sustainable landscaping that is low-maintenance and doesn't need extra watering.
For buyers who think they can't afford riverfront living, Brickman has a message: Do the math. With prices starting at $340,000, a 10-year tax abatement, and interest rates below four percent, purchasers end up with a monthly payment of about $1,300 per month -- less than the cost of a swank two-bedroom apartment, he quips.
"We're trying to open it up," he says. "This is what new urbanism is all about. We tore down three old houses and are creating a $10 million-plus new project."
Source: Andrew Brickman
Writer: Lee Chilcote
venturebeat suggests investing venture capital in ohio
"For investors looking to go off the beaten track to find quality deals, Ohio might be the answer," Mitchell Rosich, partner at Athenian Venture Partners, writes in VentureBeat.
"According to the most recent Ohio Venture Capital Report, venture capital activity in Ohio was up more than 80 percent in 2010, surpassing the national average, which was up only 20 percent."
An increase in pre- and seed-stage investments amounting to $183.8 million is paid to angel groups and state programs.
What makes Ohio so ripe for investment?
1. Untapped investment opportunities: Ohio has significant deal flow in two of the most dynamic market segments — healthcare and information technology.
2. Attractive deals for the right price: Ohio is full of quality investment opportunities that are not typical “club” deals, allowing venture firms to avoid overpaying.
3. Long-term vision: Midwestern investors are more likely to back companies that actually create something tangible – such as a new medical device or electronics products due to the region’s supply chain assets and sophisticated manufacturing workforce.
4. Supporting its entrepreneurs: Ohio has an abundance of resources for entrepreneurs across the state to help them along the way and to get their ideas out. A select few include TechColoumbus, TechGrowth, CincyTech, and JumpStart.
"Investing in Ohio will continue to reap impressive returns over the next 10 years."
Read the rest right here.
"According to the most recent Ohio Venture Capital Report, venture capital activity in Ohio was up more than 80 percent in 2010, surpassing the national average, which was up only 20 percent."
An increase in pre- and seed-stage investments amounting to $183.8 million is paid to angel groups and state programs.
What makes Ohio so ripe for investment?
1. Untapped investment opportunities: Ohio has significant deal flow in two of the most dynamic market segments — healthcare and information technology.
2. Attractive deals for the right price: Ohio is full of quality investment opportunities that are not typical “club” deals, allowing venture firms to avoid overpaying.
3. Long-term vision: Midwestern investors are more likely to back companies that actually create something tangible – such as a new medical device or electronics products due to the region’s supply chain assets and sophisticated manufacturing workforce.
4. Supporting its entrepreneurs: Ohio has an abundance of resources for entrepreneurs across the state to help them along the way and to get their ideas out. A select few include TechColoumbus, TechGrowth, CincyTech, and JumpStart.
"Investing in Ohio will continue to reap impressive returns over the next 10 years."
Read the rest right here.
Ohio Technical College, an automotive technology school at East 51st and St. Clair Ave., has grown its student population in recent years. As it has done so, OTC has continued to invest in the St. Clair Superior neighborhood where its main campus is located.
Recently, OTC purchased two corner bars that had been considered a nuisance by neighborhood residents. OTC also leased or purchased several other buildings, including the former City Desk, which is slated to house classrooms, offices and a visitor center. These efforts have removed blighted buildings from the area.
OTC's growth has been fueled in part by the innovative partnerships it has formed with automotive companies. In April, the school celebrated the opening of the new Edelbrock Academy, a partnership with Edelbrock Performance Products, one of the world's leading manufacturers of high performance, aftermarket auto parts.
OTC has also formed a similar partnership with Jasper Engines and Transmissions in Jasper, Indiana, which is one of the country's leading producers of engines and transmissions. For both Jasper and Edelstein, this kind of partnership is beneficial because the companies need mechanics who are familiar with their products.
Through these partnership, OTC is helping to educate the next generation of mechanics in the heart of Cleveland. Currently, enrollment is 1,200 at the main campus on East 51st and 300 at the Power Sports Institute in North Randall.
Ohio Technical College offers "a wide array of technician training programs in automotive, motorcycle, diesel equipment, collision repair and refinishing, classic car restoration, high performance and racing, alternative fuel vehicles, power generator systems, and BMW," according to the institution's website.
Source: Ohio Technical College
Writer: Lee Chilcote
Recently, OTC purchased two corner bars that had been considered a nuisance by neighborhood residents. OTC also leased or purchased several other buildings, including the former City Desk, which is slated to house classrooms, offices and a visitor center. These efforts have removed blighted buildings from the area.
OTC's growth has been fueled in part by the innovative partnerships it has formed with automotive companies. In April, the school celebrated the opening of the new Edelbrock Academy, a partnership with Edelbrock Performance Products, one of the world's leading manufacturers of high performance, aftermarket auto parts.
OTC has also formed a similar partnership with Jasper Engines and Transmissions in Jasper, Indiana, which is one of the country's leading producers of engines and transmissions. For both Jasper and Edelstein, this kind of partnership is beneficial because the companies need mechanics who are familiar with their products.
Through these partnership, OTC is helping to educate the next generation of mechanics in the heart of Cleveland. Currently, enrollment is 1,200 at the main campus on East 51st and 300 at the Power Sports Institute in North Randall.
Ohio Technical College offers "a wide array of technician training programs in automotive, motorcycle, diesel equipment, collision repair and refinishing, classic car restoration, high performance and racing, alternative fuel vehicles, power generator systems, and BMW," according to the institution's website.
Source: Ohio Technical College
Writer: Lee Chilcote
Several Cleveland-based funding organizations have gotten together and pooled their money to help small businesses that otherwise would not have access to the capital they need to grow.
Under the Economic Community Development Institute (EDCI), which officially announced the launch of its Cleveland office on July 17, the City of Cleveland, Cuyahoga County, Huntington Bank, U.S. Small Business Administration, Commission on Economic Inclusion, The Business of Good Foundation, and the Cleveland Foundation have committed $4.6 million in resources.
Micro-loans will account for $4 million of the fund while the remaining $600,000 will provide training and technical assistance for Cleveland small businesses. A 2011 study by Friedman Associates, a national firm specializing in microfinance, estimated a need of $38 million for loans under $50,000 in Cuyahoga County, with the greatest gap among minority-owned businesses.
“Neighborhood businesses who would not otherwise have access to capital will benefit from these loans,” says Daniel P. Walsh, Huntington northeast Ohio president. “These loans really stabilize neighborhoods with the capital to achieve the American dream. It will reinvigorate those neighborhoods that need reinvestment.”
The average loan is between $15,000 and $20,000. Eight area businesses have already benefited from loans through the program, totaling $163,000. ECDI started a similar program in Columbus in 2004 and has made $11.4 million in loans to 700 small businesses, creating or retaining 1,955 jobs.
The majority of businesses who will benefit from the loans are five employees or fewer, explains Bob Eckardt, executive vice president of the Cleveland Foundation. “There’s a pretty significant gap in this community and this will support a wide range of businesses,” he says. “We’re trying to do a big-picture thing. It’s important to support the entrepreneurs by getting them the funding they need to grow big or hire employees.”
Source: Daniel P. Walsh, Bob Eckardt
Writer: Karin Connelly
Under the Economic Community Development Institute (EDCI), which officially announced the launch of its Cleveland office on July 17, the City of Cleveland, Cuyahoga County, Huntington Bank, U.S. Small Business Administration, Commission on Economic Inclusion, The Business of Good Foundation, and the Cleveland Foundation have committed $4.6 million in resources.
Micro-loans will account for $4 million of the fund while the remaining $600,000 will provide training and technical assistance for Cleveland small businesses. A 2011 study by Friedman Associates, a national firm specializing in microfinance, estimated a need of $38 million for loans under $50,000 in Cuyahoga County, with the greatest gap among minority-owned businesses.
“Neighborhood businesses who would not otherwise have access to capital will benefit from these loans,” says Daniel P. Walsh, Huntington northeast Ohio president. “These loans really stabilize neighborhoods with the capital to achieve the American dream. It will reinvigorate those neighborhoods that need reinvestment.”
The average loan is between $15,000 and $20,000. Eight area businesses have already benefited from loans through the program, totaling $163,000. ECDI started a similar program in Columbus in 2004 and has made $11.4 million in loans to 700 small businesses, creating or retaining 1,955 jobs.
The majority of businesses who will benefit from the loans are five employees or fewer, explains Bob Eckardt, executive vice president of the Cleveland Foundation. “There’s a pretty significant gap in this community and this will support a wide range of businesses,” he says. “We’re trying to do a big-picture thing. It’s important to support the entrepreneurs by getting them the funding they need to grow big or hire employees.”
Source: Daniel P. Walsh, Bob Eckardt
Writer: Karin Connelly
The Tremont Farmers Market, which takes place on Tuesdays from 4 to 7 p.m. in Lincoln Park, has quietly grown into one of the largest in Cleveland, attracting more than 1,500 people on a recent Tuesday.
"People come from all over," says Jim Votava of the Tremont West Development Corporation, who organizes the weekly market. "We've tried to create a weekly destination event that embraces good food."
This season, the market's lineup has included demonstrations from local chefs, an art yard sponsored by the annual Tremont Trek benefit, live music and booths from local businesses. The addition of more prepared foods is also a change. Presenting sponsor MetroHealth provides information on healthy living.
Modeled after the North Union Farmers Market at Shaker Square, Votava says the market demonstrates growing consumer interest in local, sustainable foods.
The Tremont Farmers Market runs all summer long and continues into the fall. During the winter, the market takes a holiday break and then continues at Holy Ghost Greek (Byzantine) Catholic Church and Cultural Center on West 14th.
Source: Jim Votava
Writer: Lee Chilcote
"People come from all over," says Jim Votava of the Tremont West Development Corporation, who organizes the weekly market. "We've tried to create a weekly destination event that embraces good food."
This season, the market's lineup has included demonstrations from local chefs, an art yard sponsored by the annual Tremont Trek benefit, live music and booths from local businesses. The addition of more prepared foods is also a change. Presenting sponsor MetroHealth provides information on healthy living.
Modeled after the North Union Farmers Market at Shaker Square, Votava says the market demonstrates growing consumer interest in local, sustainable foods.
The Tremont Farmers Market runs all summer long and continues into the fall. During the winter, the market takes a holiday break and then continues at Holy Ghost Greek (Byzantine) Catholic Church and Cultural Center on West 14th.
Source: Jim Votava
Writer: Lee Chilcote
Photo: Peggy Turbett, The Plain Dealer
Twenty teams came to LaunchHouse on July 18 to pitch their business ideas for a chance to be accepted into the inaugural LaunchHouse Accelerator program and a $25,000 investment in their businesses at the Tech UnConference.
LaunchHouse received a $200,000 grant from the Ohio Third Frontier ONEFund to invest in startups. During the Tech UnConference companies will present three-minute pitches to a panel of Cleveland-area experts. Following the pitch session, companies then had the opportunity to demo their internet, technology or mobile app startup company.
The judges will select 10 companies for the accelerator. More than 50 companies applied for the chance to pitch. The chosen companies will then participate in a 12-week program, in which they will have experience-based lab sessions with one on one mentorship, and opportunities to network with successful entrepreneurs.
The program curriculum is very customer focused, says LaunchHouse CEO and founder Todd Goldstein. “The companies we select have to be very customer-centric,” he explains. “The entrepreneurs will develop their companies with their clients, so at the end of the 12 weeks they’ve identified who is going to pay for their product and accelerate their business.”
Goldstein describes the accelerator as a formalized approach to helping companies. “Up to this point, admission have been on a rolling basis and very informal,” he says. “This is a formalization of the years we’ve spent helping companies.”
The 12-week program will conclude with a showcase day, when the businesses will present to investors and venture capitalists. The 10 companies will be announced on Aug.8, with classes beginning Sept. 4.
Source: Todd Goldstein
Writer: Karin Connelly
LaunchHouse received a $200,000 grant from the Ohio Third Frontier ONEFund to invest in startups. During the Tech UnConference companies will present three-minute pitches to a panel of Cleveland-area experts. Following the pitch session, companies then had the opportunity to demo their internet, technology or mobile app startup company.
The judges will select 10 companies for the accelerator. More than 50 companies applied for the chance to pitch. The chosen companies will then participate in a 12-week program, in which they will have experience-based lab sessions with one on one mentorship, and opportunities to network with successful entrepreneurs.
The program curriculum is very customer focused, says LaunchHouse CEO and founder Todd Goldstein. “The companies we select have to be very customer-centric,” he explains. “The entrepreneurs will develop their companies with their clients, so at the end of the 12 weeks they’ve identified who is going to pay for their product and accelerate their business.”
Goldstein describes the accelerator as a formalized approach to helping companies. “Up to this point, admission have been on a rolling basis and very informal,” he says. “This is a formalization of the years we’ve spent helping companies.”
The 12-week program will conclude with a showcase day, when the businesses will present to investors and venture capitalists. The 10 companies will be announced on Aug.8, with classes beginning Sept. 4.
Source: Todd Goldstein
Writer: Karin Connelly
The grassroots, pro-Cleveland music collective Cellar Door is launching a new performance space, Cleveland-only record store and office space in the Loftworks building at East 40th and Superior.
The creative space, which features antique wood floors, high ceilings and large windows, is intended to not only foster a "community among listeners" among local music fans, but also to reach people who are unaware of Cleveland's distinctive music scene.
"Local bands like Herzog are taking off nationally, but once you step outside of the in-the-know crowd, a lot of people have no idea," says founder Justin Markert, who has operated Cellar Door as a record label for years with his partner, Rick Fike. "We want to bring not-so-well-known artists to a bigger audience."
Markert says that Cellar Door will also be an eclectic, anything-goes art space featuring films, fiction readings, art shows and candid, behind-the-scenes conversations with emerging bands or artists. Cellar Door also manages a blog that curates the best of the local music scene.
A launch party featuring local bands is slated for Friday, July 27th at 7 p.m. at 1667 E. 40th Street, Suite 2G.
Source: Justin Markert
Writer: Lee Chilcote
The creative space, which features antique wood floors, high ceilings and large windows, is intended to not only foster a "community among listeners" among local music fans, but also to reach people who are unaware of Cleveland's distinctive music scene.
"Local bands like Herzog are taking off nationally, but once you step outside of the in-the-know crowd, a lot of people have no idea," says founder Justin Markert, who has operated Cellar Door as a record label for years with his partner, Rick Fike. "We want to bring not-so-well-known artists to a bigger audience."
Markert says that Cellar Door will also be an eclectic, anything-goes art space featuring films, fiction readings, art shows and candid, behind-the-scenes conversations with emerging bands or artists. Cellar Door also manages a blog that curates the best of the local music scene.
A launch party featuring local bands is slated for Friday, July 27th at 7 p.m. at 1667 E. 40th Street, Suite 2G.
Source: Justin Markert
Writer: Lee Chilcote
Louis Alloro isn't the first non native to touch down in Northeast Ohio and notice that Cleveland could use a collective mood lift, but he is pioneering a new effort to bring the science of happiness to Northeast Ohio.
The New York City native, who holds a Master's degree in Applied Positive Psychology from the University of Pennsylvania (he is one of the first 100 people in the world to hold this degree), discovered Cleveland's mild mood disorder when he visited his best friend here a few years ago. As soon as he set foot in the city, he had "a visceral sense that positive psychology would work really well here," he says.
After attending the Sustainable Cleveland conference in 2009, Alloro formed key partnerships with other Cleveland leaders interested in positive psychology. Soon afterwards, he relocated here and launched SOMO Cleveland, a project of SOMO Leadership Labs, which aims to "find and leverage the Social-Emotional (SOMO) Leaders around town, those who share a vision for a more positive future."
Recently, SoMo Cleveland hosted a screening of the documentary film "Happy." This film presents the argument that happiness stems not from one's material possessions, but from cultivating a sense of community, fostering experiences and personal connections, and giving back to other people. The film delves into the increasingly sophisticated science of happiness to show that income and material possessions account for only a modest amount of one's level of happiness.
The film also suggests that many Americans, who tend to privilege wealth above community building, relationship building and altruism as a means of creating happiness, are misguided. The science of happiness is directly applicable to Cleveland, Alloro says, because training people to seek happiness within themselves will lead to a stronger city focused on "positive self-growth."
Each month, SOMO Cleveland is hosting a series of free learning labs, book club discussions and film discussions, among other events, to engage Clevelanders.
"We want to give people experiences that help them build their own psychological muscle, then measure how they become more effective change agents," says Alloro. "We want to create an energy that promotes a viral sweep of well-being."
Source: Louis Alloro
Writer: Lee Chilcote
The New York City native, who holds a Master's degree in Applied Positive Psychology from the University of Pennsylvania (he is one of the first 100 people in the world to hold this degree), discovered Cleveland's mild mood disorder when he visited his best friend here a few years ago. As soon as he set foot in the city, he had "a visceral sense that positive psychology would work really well here," he says.
After attending the Sustainable Cleveland conference in 2009, Alloro formed key partnerships with other Cleveland leaders interested in positive psychology. Soon afterwards, he relocated here and launched SOMO Cleveland, a project of SOMO Leadership Labs, which aims to "find and leverage the Social-Emotional (SOMO) Leaders around town, those who share a vision for a more positive future."
Recently, SoMo Cleveland hosted a screening of the documentary film "Happy." This film presents the argument that happiness stems not from one's material possessions, but from cultivating a sense of community, fostering experiences and personal connections, and giving back to other people. The film delves into the increasingly sophisticated science of happiness to show that income and material possessions account for only a modest amount of one's level of happiness.
The film also suggests that many Americans, who tend to privilege wealth above community building, relationship building and altruism as a means of creating happiness, are misguided. The science of happiness is directly applicable to Cleveland, Alloro says, because training people to seek happiness within themselves will lead to a stronger city focused on "positive self-growth."
Each month, SOMO Cleveland is hosting a series of free learning labs, book club discussions and film discussions, among other events, to engage Clevelanders.
"We want to give people experiences that help them build their own psychological muscle, then measure how they become more effective change agents," says Alloro. "We want to create an energy that promotes a viral sweep of well-being."
Source: Louis Alloro
Writer: Lee Chilcote