Regional Economy

team wendy returns to its roots with new military helmet
Team Wendy, a designer and manufacturer of multiple-application products that serve to protect against serious and potentially life-threatening impact-related injuries, is returning to where it began with the release of a new and complete helmet solution, the EXFIL. 

The company developed and manufactured its line of W Helmets for the skiing, biking and multi-sport markets from 1998 to 2004 before moving away from complete helmet solutions and into helmet liner protection systems for the U.S. military. The company has supplied the U.S. military with more than five million Zorbium Action Pad (ZAP) protection systems since 2005. 
  
Team Wendy’s new helmet uses technology partially developed through collaboration on a key U.S. Army Natick Soldier RD&E Center program. The helmet features a hybrid sling/polymer structure impact management system that stands up to multiple impacts.

“With the EXFIL, we are not only excited about a return to complete helmet solutions but we are also pleased with our ongoing advancements in liner protection technology,” says CEO Jose Rizo-Patron.
 
While Team Wendy continues to produce the seven-pad ZAP sets for standard issue military helmets, they are also now assembling the new EXFIL helmet at its 50,000-square-foot Collinwood facility. “We really make it a concerted effort to stay local,” says Rizo-Patron. “Cleveland and greater Northeast Ohio’s strong manufacturing and engineering roots allow us to maintain a hiring pool that is largely local.  The majority of our vendors are also companies based in Ohio.”
 
Team Wendy consistently employs between 50 and 75 people in pre-assembly, final assembly and fabrication jobs. The company also works with local and state universities and design institutes to recruit new talent.


Source: Jose Rizo-Patron
Writer: Karin Connelly
nortech to host annual statewide conference on advanced energy
NorTech will host the Advanced Energy B2B Conference and Expo in Columbus next week, Oct. 30 and 31 at the Greater Columbus Convention Center. The conference focuses on companies, technologies and researchers driving progress in advanced energy in Ohio.
 
NorTech officials decided to move the conference to Columbus this year to make it a state-wide event. Last year the event was held in Akron. “We moved it to Columbus this year to make the networking as broad as possible,” says NorTech CEO Rebecca Bagley. “The conference will show ideas around new innovations and technologies provide networking and capitalize on future synergies.”
 
However, the issues covered impact Cleveland’s economic base. Advanced energy means $30 billion in new or expanded businesses -- including 6,800 new jobs over the next seven years in Northeast Ohio alone.
 
Nineteen Northeast Ohio companies will be participating in four Technology Showcases: energy storage and fuel cells; smart grid technology; waste and biomass to energy; and solar technology. There will also be student showcases included that are looking for collaboration and funding.
 
NorTech has created a software program using LinkedIn to connect companies with similar interests. “With this system, it’s as conducive as it can be to find businesses and research opportunities,” says Bagley. “Companies obviously get generalized networking out of the event, but we also have this system that connects companies to potential opportunities. This will connect companies so they can preliminarily talk.”
 
Keynote speakers include Bill Ritter, Jr., Colorado's 41st Governor and director of the Center for the New Energy Economy at Colorado State University and Todd A. Snitchler, chairman of the Public Utilities Commission of Ohio.

 
Source: Rebecca Bagley
Writer: Karin Connelly
seeing the world, one delicious plate at a time
It's no exaggeration to say that Cleveland wouldn't be half the city it was and is without the steady influx of foreign-born peoples. But nowhere, perhaps, is our city's melting-pot pedigree more evident than on the plates served at ethnic eateries throughout town. Every time we tuck into a delicious plate of ethnic food, we have these brave immigrants to thank for it.
cleveland named among top rust belt travel destinations for canadians
“With a flourishing theatre scene, beautifully restored Art Deco buildings and a burgeoning farm-to-table culinary movement, it’s hard to believe that this town ever served as a punch line,” writes Tim Johnson of the Toronto Star.
 
Fellow Rust Belt cities of Detroit and Pittsburgh also are highlighted in this travel piece that boasts how these three cities have emerged from industrial oblivion to become havens for artists, designers, and others that are fighting to bring these tired cities back to life.
 
“Their factories are now a haven for artists and designers, or hosts for living history tours," he notes. "Their rivers, one of which caught on fire in 1969 (the Cuyahoga), have been cleaned up. All three are home to several worthwhile attractions — if you know where to look.”
 
His piece details must-see attractions such as The Rock and Roll Hall of Fame and Museum, the Terminal Tower, the West Side Market and Ohio City, the Cleveland Metroparks, and mentions The Greenhouse Tavern and Cowell and Hubbard as prime eateries.
 
Read the tale of three cities here.
cleveland's biomed cluster highlighted in bloomberg
Writing for Bloomberg Businessweek, Harold Sirkin states that "Industry clusters have been around for a very long time, serving as a catalyst for economic growth. Think: Detroit in the U.S. auto industry’s heyday, Pittsburgh when steelmaking was king, Silicon Valley for tech, Research Triangle Park, Wall Street, and even Hollywood. They are all examples -- past or present -- of the phenomenon."

He adds that "What makes clusters unique is not just that companies with similar or complementary interests, competencies, and needs congregate around each other. It’s that an entire value chain exists within a cluster: suppliers, manufacturers, distributors, academic institutions, researchers, and workforce training, as well as those who provide relevant support services."

Regarding Cleveland he notes "The Cleveland area is becoming a hub for the biomedical industry."

Read it all here.
as local urban farm movement matures, so too do strategies for year-round success
Cleveland’s growing urban farming scene has gained national recognition as a creative response to the problems of foreclosure and vacancy. Now the challenge for these homegrown entrepreneurs is to develop business strategies that help turn their startups into year-round businesses.
video interview with chris coburn of cleveland clinic innovations
In this video, Chris Coburn, Executive Director of Cleveland Clinic Innovations, explains how the organization takes the intellectual assets of the Cleveland Clinic -- be they medical devices, diagnostics, or drugs -- and turns them into commercial products. With names like Cleveland Heart, Explorys, and Juventas Therapeutics, its track record is impressive.
bioenterprise, austen bioinnovation work as one to propel healthcare tech in region
Let's imagine that the Northeast Ohio healthcare innovation community is a football team. That would make business recruiter BioEnterprise the quarterback, "handing off" startup companies to Austen BioInnovation Institute in Akron, with an aim of scoring funding and resources a company needs to succeed. 
 
Strained metaphors aside, BioEnterprise and Austen are two local groups working as a team to push a regional economic transition from staid manufacturing to the more vibrant realm of healthcare and innovation technology. What exactly do these groups do and how do they do it? How do they work together to achieve their goals? Key members from each organization share their connected strategies.
 
Providing a guiding hand
 
BioEnterprise is a Cleveland nonprofit tasked with growing healthcare companies and commercializing bioscience technologies. The early-stage firms BioEnterprise assists are seeking to produce medical devices and biotechnology, or developing drugs for commercial use.
 
The economic development group was founded in 2002 by the Cleveland Clinic, University Hospitals and Case Western Reserve University as a way to harness area strengths in medical devices and healthcare technology. The nonprofit's foray into a potentially lucrative "innovation economy" is built by guiding new companies, not funding them, says interim president Aram Nerpouni.
 
Read the rest here...
five cle plus healthcare companies poised for greatness
Thanks to Northeast Ohio's collaborative medical startup community, one fueled by forward-looking economic organizations and angel investors, entrepreneurs with viable ideas are making waves. Here are five Cleveland and Akron healthcare companies poised to be the Next Big Thing.
mag for meeting planners points travelers to cleveland
Writing for Meetings Focus, a publication geared to professional meeting planners, Kelsey Farabee writes that "Northeast Ohio is booming. New venues and hotels are sprouting up throughout the region and visitors are pouring in, so planners seeking an energetic, bustling host city should look no further than the seat of Cuyahoga County."

The article, titled "Cure for the Common City," describes at length all the recent development that has taken place over the past few years. Mentioned within are the Medical Mart and convention center, "Cleveland’s burgeoning food scene," and Horseshoe Casino Cleveland.

Also described is the new Museum of Contemporary Art, about which Farabee writes, "Adding to the city’s cultural panache is the Museum of Contemporary Art (MOCA) Cleveland, which unveiled an enormous $350 million expansion this month. The new 34,000-square-foot structure has a distinctive mirrored exterior and is 44 percent larger than the museum’s previous location. The four-story building has a startling geometric footprint, rising from a hexagonal base to a square top, with exhibitions and space for public programs on all four floors."

Read the rest right here.
cle-based startups are attracting venture capital in record amounts
Whether it is health care, information technology, clean tech or business and consumer products, our region’s increased level of startup activity is attracting funding from venture capital firms both here in Northeast Ohio and beyond. But experts say there's a ways to go before the Silicon Valley comparisons stick.
fast-growing vocon earns top-workplace nod again from northcoast 99
Vocon, an architecture and design firm in Cleveland, was named one of the top places to work by the NorthCoast 99. Vocon was recognized for its positive work environment and fostering an atmosphere dedicated to creativity, innovation and collaboration for its staff.
 
The NorthCoast 99 event was created in 1999 by the Employers Resource Council to recognize companies that create good workplaces. The awards ceremony was held on Sept.19 at LaCentre Conference and Banquet Facility in Westlake.
 
Vocon, which has added 30 employees and grown to 100 total employees in the last two years, has maintained a healthy growth rate while still focusing on creating an ideal workplace. “We’re growing in the right way,” says Susan Austin, chief human resources officer for Vocon. “We still have that small company feel, but we keep our current staff engaged.”
 
The company prides itself on a diversity of ages and talents who learn from each other. “We’re non-hierarchical,” says Austin. “It’s not about titles, it’s about contributions. We take inexperienced employees and put them in positions very early where they can shine. When you have the freedom to get work done you work harder.”
 
Of course, being one of the top places to work, Vocon offers its perks as well. “We work hard, but we play hard too,” says Austin, who adds that the company recently installed a nine-hole putt-putt golf course in the offices.

 
Source: Susan Austin
Writer: Karin Connelly
bizdom moves into larger downtown space to better serve growing portfolio of startups
Bizdom, the nonprofit accelerator created by Cleveland Cavaliers owner Dan Gilbert, recently moved to new, 7,000-square-foot offices in downtown Cleveland to better assist the growing portfolio of startup technology companies in its program.

Bizdom graduated its first class of entrepreneurs in January and has made 13 investments in Cleveland businesses so far. The new office space is designed to provide useable space for entrepreneurs, as well as those who mentor them.

"The goal was to be downtown and near the Quicken Loans family of companies," says Paul Allen of Bizdom. "We have room for approximately 20 businesses and two conference room areas. They can have desk space, network access, printers and meeting breakout rooms. There is also space to play darts, music or foosball."

Bizdom's mission is to "help startup businesses go further faster by helping them at their earliest stages," says Allen. Entrepreneurs accepted into the three-month accelerator program receive a $25,000 investment in exchange for giving up an eight percent equity stake in their company. They also receive free training and mentorship throughout the program. After they graduate, they may receive additional support such as follow-on funding or subsidized office space.

Bizdom is a nonprofit organization, and if a company is sold at a later date (something that has already happened twice at its Detroit office), the proceeds from Bizdom's equity stake will go towards helping other entrepreneurs.

Bizdom's new offices are located at 250 West Huron Road, Suite 203.


Source: Paul Allen
Writer: Lee Chilcote
thinking outside the box is easy at multi-million dollar invention center think[box]
When Case's think[box] is completed, it will be one of largest university-based invention centers in the world, bigger even than Stanford's d. school, MIT's Fab Lab, or Rice's Design Kitchen. It’s a venture that has the potential to play a major role in spurring innovation in the region, say local educators and entrepreneurs.
freighter passage: a photographic tour up the crooked cuyahoga
Several times each week, giant freighters the length of two football fields travel up the crooked Cuyahoga River to deliver raw materials. In this slide show, Fresh Water photographer Bob Perkoski goes along for the ride.
msn travel writer calls cleveland 'america's big comeback story'
Writing for MSN Travel, Ken Hegan, a screenwriter and journalist, calls Cleveland "America's big comeback story."

"Never thought I'd ever say this but I just fell in love with Cleveland, Ohio. Now I kinda want to move there," he writes.

Following a brief and painful history lesson, Hegan gets to the good stuff:

"The city's entering a period of 'unprecedented growth. The river's cleaned up, there's a thriving medical industry, houses are cheap, artists can rent old brick warehouse spaces for the price of a Manhattan coffee, the city's enjoying a culinary boom, plus there's a museum devoted to polka music and a festival celebrating duct tape."

"The city's rebuilding and expanding with billions of dollars in new tourism infrastructure that includes a $26-million Museum of Art, new boutique hotels, a new medical convention center... The city is also looking forward to hosting the Summer National Senior Games (July 2013), and The International Gay Games (2014)."

Hegan closes with a bold assertion:

"If I was an artist in America right now (or anyone who wants to live cheaply in The Next Great American City), I wouldn't pay a fortune to starve in Brooklyn. Instead, I'd live like a king, rent an inexpensive brick Cleveland studio, and turn that into a factory of art."

Read the rest here.
great lakes venture fair will showcase high potential companies to investors
On the heels of the National Association of Seed and Venture Funds annual conference, the Great Lakes Venture Fair will host its first event at the Cleveland Marriott on October 17 and 18. The event is a joint effort between the Ohio Capital Fund, Ohio Venture Association, JumpStart, TechColumbus and CincyTech.

“The event builds on the past seven successful years of the Ohio Early Stage Summit,” says Chris Sklarin, event chair and investor manager with Edison Ventures. “Great Lakes Venture Fair will showcase the region’s high potential companies to investors with a focus on successful strategic partnerships -- how it’s done.”

The Great Lakes Venture is designed to highlight the activity in the region, as well as identify the next big things. “It’s important in general for the region because this is the new economy,” says Sklarin. “This is where we find new growth, new ventures. It would be really great for us to have a successful large company to grow out of this.

Keynote speaker for the event will be Jeff Weedman, who took a two-year leave as vice president of global business development of Proctor & Gamble to become CEO of Cintrifuse in Cincinnati. He will talk about the corporate partnerships behind Cintrifuse as well as join a panel discussion about working with strategic investors.

Sklarin’s advice to entrepreneurs planning on attending is straightforward. “Bring your business cards -- there’s a lot of networking,” he says. “Have your elevator pitch down. You want to get out there and meet everyone you can.”

Organizers are expecting as many as 300 attendees.


Source: Chris Sklarin
Writer: Karin Connelly
q & a: william friedman, president & ceo cleveland-cuyahoga county port authority
The Cleveland-Cuyahoga County Port Authority is asking voters to vote "Yes" on Issue 108, a levy that would cost property owners roughly $20 a year per $100,000. Fresh Water discusses the importance of the levy and more with Port President and CEO William Friedman.
up the river: navigating the narrow, twisting river to fuel the economy
On a recent September morning, the American Courage freighter began a trip upriver at the Port Authority’s Cleveland Bulk Terminal, where it picked up roughly 15,000 tons of iron ore. This was the 635-foot freighter’s second trip that day up the 5.5-mile ship channel to ArcelorMittal, where workers would later turn the iron ore into steel used to produce cars, construct buildings, and make household appliances.