Entrepreneurial Programs : Innovation + Job News

The Beachwood Junior Achievement Company program, which hosted the Green Dream Showcase for the past five years, will bring Entrovation to the Beachwood Community Center (25325 Fairmount Blvd.) on Friday, April 19 from noon to 7 p.m.

Twenty high school seniors from Beachwood, Mayfield, Brush and Solon high schools spent the school year planning Entrovation -- a combination of entrepreneurship and innovation -- which will showcase 170 area companies including 10 student companies.
 
“Some people think this is a little high school event, but it’s not,” says Greg Perry, Beachwood High School marketing and Junior Achievement teacher. “People will walk away saying, ‘I can’t believe students did this.’”
 
Kevin Eisler, a Brush High School senior is one of the students who has been planning Entrovation. “Entrovation showcases how small business and big established businesses are being innovative in their own field,” explains Eisler. “It’s cool to see where all our hard work is going to. It’s almost like we’re entrepreneurs ourselves, working together to make this happen.”
 
Esme Eppell, a Beachwood High School senior, says the whole experience has encouraged her own entrepreneurial spirit. “The guest speakers who have come in have been really inspirational,” she says. “They’re all normal people who had ideas for a business and became hugely successful.”
 
Organizers are expecting more than 5,000 attendees at Entrovation. In addition to the exhibitors, six food trucks and the Game Craze truck will be on location. The Burton D. Morgan Foundation is sponsoring an Innovative Entrepreneur of the Year competition. Using smart phones attendees can vote for their favorite entrepreneurs. Prizes range from $3,000 for first place to $500 for third place.
 
Many exhibitors will have merchandise for sale and a raffle offers a chance to win gift s and services from local companies. Leikin Motor Companies is offering the chance to win a convertible Mercedes-Benz for a weekend.
 
The group has raised nearly $100,000 so far. Proceeds from the event will be used to build a model for an innovative classroom, based on their visits to places like LaunchHouse and Bizdom. They also plan to make a donation to PediaWorks, which develops and manufactures medical devices for children.

 
Sources: Greg Perry, Kevin Eisler, Esme Eppell
Writer: Karin Connelly

In the penthouse of the historic Palace Theatre, Charles Stack is hoping to foster a few new tech companies -- 10 to be exact -- in Cleveland’s newest business accelerator, FlashStarts.

Stack started FlashStarts in October 2012 and will hold his inaugural startup class this summer. “Come in with a half-baked idea and we finish baking it, slap some cash for equity, and start it in three months,” he explains.
 
Teams of two or more can apply to be one of the 10, but Stack is also looking for 10 interns and even potential entrepreneurs who don’t have an idea yet, but want to help build on somebody else’s idea. “Even if you don’t have teammates or an idea, you can apply and we’ll put you with a team and you will get equity with that team,” he says. “There are a lot of smart people out there who may not have a teammate.”
 
Stack is against the “cookie-cutter approach” to starting new businesses. Instead, he helps each company with their unique needs. “As soon as you apply, if we like the concept we begin the process of launching the company,” he says. Stack immediately gives the teams individual challenges, like researching the patents or market size.
 
“The key to making that business successful is getting the team familiar with us and us familiar with them,” Stack says. “It’s really not the same for every business. Different opportunities require different tools.”
 
Stack is raising $1.1 million to invest in the companies. Teams will receive up to a $20,000 investment -- $11,000 plus $3,000 for each team member. FlashStarts in turn gets eight percent equity in the company. Teams can potentially receive up to $200,000 in follow-on funding upon completion of the program.
 
Stack already has identified six potential candidate teams. He is accepting applications until May 10. Stack also is looking for mentors and advisors. FlashStarts has partnered with DecisionDesk to facilitate the application process and recently brought in Jennifer Neundorfer as managing partner.
 

Source: Charles Stack
Writer: Karin Connelly

uHeart StartUps, a University of Toledo digital media conference, will host a “Pitch & Pour” after party on May 10 at the Nitschke Technology Commercialization Complex  for aspiring entrepreneurs to pitch their business idea to a panel of judges. The winning idea will receive up to $5,000, but attendees stand to benefit regardless by connecting with local business leaders in attendance.
 
Scott McIntyre, Manager of Business Incubation at the University of Toledo, sees the event as an opportunity to energize the entrepreneurial spirit of Toledo, and convince area innovators to realize their dreams right in the Glass City, spurring job growth for the hard-hit region. To do this, McIntyre isn’t just counting on Toledoans.
 
“We’ve solicited participants from Indiana and Michigan,” McIntyre says, affectionately calling it the tri-state area. “We’re trying to spread the word that the University of Toledo is a place for digital media innovation.”
 
McIntyre is familiar with the opportunities presented in Toledo, because he’s lived through the journey of starting a new enterprise in town.
 
After living in California for 18 years, McIntyre returned to Toledo to help out his mother, who ended up starting a regional lifestyle and culture magazine, InToledo, with her husband, Dennis Hicks, Minority Health Coordinator at Toledo-Lucas County Health Department. “In the process of getting the magazine published, I learned a lot about the city,” he recalls. “Toledo has a lot of advantages for small businesses and large businesses,” namely low cost of living and logistical location to the “knowledge bases” of Detroit, Chicago and Cleveland. For these reasons and more, McIntyre believes entrepreneurs will leave Pitch & Pour with a new picture of Toledo.
 
“We really have the ingredients to inspire entrepreneurs,” he says. “We’re working to get people to stay here and create jobs.”
 
Interested attendees can RSVP to the event on Facebook. More information at uheartdigitalmedia.com/pitchandpour.
 
 
Source: Scott McIntyre
Writer: Joe Baur

Global Cleveland recently launched its Asian Initiative, a program to attract and retain Asian talent to the region. “Asians are now the fastest growing and most educated population in the U.S.,” says Meran Rogers, Global Cleveland’s director of community affairs, adding that Cleveland has seen a 49-percent increase in Asians between 2000 and 2010.

Those numbers prompted Global Cleveland to reach out to various groups in the Asian community to identify focus areas of the initiative. The group hosted 30 Asian community leaders in March at a launch meeting. “We identified three main strategies for the overall Global Cleveland mission,” says Rogers. “To attract and retain Asian newcomers who will support the growth and talent needs of businesses and industries; assist Asian newcomers and young professionals in establishing roots; and foster an inclusive and welcoming community for Asians.”
 
Rogers points out that while Global Cleveland is spearheading the initiative, it’s really about supporting the goals of an already-strong Asian presence in Cleveland. “It was really important to work with all of the leaders and find out what they want to do and then help them do it,” says Rogers. Global Cleveland is working closely with groups like MotivAsians for Cleveland and Asian Services in Action (Asia, Inc.) to attain these goals.
 
Part of the program includes promoting the job fairs in IT, biomedical research and healthcare, as well as educating employers on the importance of hiring international talent. “Over half the population is foreign-born, so a lot of growth has to do with immigration,” says Rogers. “We’re really promoting the job fairs to the Asian community.”
 
Rogers says they also plan to be involved in plans to better connect AsiaTown. “Cleveland is known for AsiaTown and there are plans for improvement, to find ways to connect the different areas because they are very cut up,” she says. “Retention is dependent on how connected people feel.”

 
Source: Meran Rogers
Writer: Karin Connelly

On April 12, Platform 53 is hosting a “jelly” for those interested in coworking. A “jelly” is a temporary coworking event that Platform 53 plans to host every two weeks.
 
Adam Dean launched Platform 53 in January 2012 at Northern Kentucky University’s Startup Weekend—but under the name 3C-Coworks. At the time, Dean was an intern at Bad Girl Ventures, and he saw a need for a coworking space in Covington. He partnered with Stacy Kessler, an ex-P&Ger whose background is in consumer understanding and strategy, and the name was eventually changed.
 
The name references the railroad and the impact it had on the area. The “53” refers to 1853, which is the year the Covington train station at Eighth and Russell was built. Platform 53 also symbolizes the role the group wants to play in the community, by being a platform upon which people can build their businesses.
 
“I was used to a traditional office setting and office resources, but then I started working at home and out of coffee shops, and I realized I needed something different,” Kessler says.
 
About 30 percent of the private workforce in the United States works independently, Dean says. “We want to create a network of opportunity in the area and be a hub for independent workers.”
 
Dean and Kessler have a vision for Platform 53’s physical workspace, which they’re hoping to secure by the end of April. They want to have an open work environment with a combination of phone booth rooms, meeting rooms and conference rooms, plus flexible desk options or dedicated office space for those that wish to have their own offices.
 
“We want to make people feel at home, and have a platform to celebrate successes and make announcements,” Dean says.
 
Platform 53 is for entrepreneurs, small businesses, independent workers and those with flexible work arrangements who want to run and grow their businesses and connect with others.
 
“To me, coworking is about ‘accelerated serendipity,’” Dean says. “You might not know what you need, but you’ll eventually see the opportunity by being around others.”
 
Currently, Dean and Kessler have had about 75 people show interest in Platform 53. And the group isn’t just tech-focused. “The magic happens when you bring together people from different walks of life,” Kessler says.
 
They’re looking for different skill sets but shared values among members.
 
“We want to be part of the startup corridor,” says Kessler. “The Brandery and Cintrifuse are in Over-the-Rhine, and UpTech and Platform 53 are here in Covington—we’re like bookends that connect the region.”
 
By Caitlin Koenig
Follow Caitlin on Twitter

El Futuro de Cleveland, a collaboration between Global Cleveland, Esperanza, Northeast Ohio Council on Higher Education (NOCHE), and Cleveland Leadership Center’s (i)Cleveland hopes to retain local Latino talent in Northeast Ohio by offering paid internships to college students.
 
“The mission is to support the rich diversity of the Greater Cleveland Latino community and ensure it grows and thrives,” says Global Cleveland’s Elizabeth Hijar. There are 62,000 Latinos in Cuyahoga County, and that population grew by 30 percent since 2000. “The Latino community is a bright spot in Cleveland and is growing."
 
Part of the Global Cleveland Latino initiative, El Futuro de Cleveland is working with Cleveland State, CWRU, Baldwin Wallace and Kent State, in addition to reaching out to schools in Boston and Chicago. “The focus is on young people to help ensure there are opportunities to make them stay in Cleveland, attract them and make sure there’s a pipeline,” says Hijar. “We want to focus on these students and really try to help them get a first start in their careers, whether they are from Cleveland or outside of Cleveland, and think about living here on a long-term basis.”
 
Nineteen employers already have signed up to provide paid internships through the program. The employers are required to enroll their interns in the (i)Cleveland summer leadership and mentoring program.

 
Source: Elizabeth Hijar
Writer: Karin Connelly

The Innovation Awards, a regional celebration of entrepreneurship and creative innovation, honored eight southeastern Ohio entrepreneurs and innovators last month for their advances in business and technology.
 
Hosted by TechGROWTH Ohio, 46 finalists from across Appalachian Ohio attended the inaugural event, administered by Ohio University’s Voinovich School of Leadership and Public Affairs. The event was organized in conjunction with the fifth anniversary of the TechGROWTH Ohio program, a public/private partnership that delivers operational assistance to startups.
 
Andrea Gibson, Director of Research Communications at Ohio University’s Research and Technology Center, details six different categories: Entrepreneur of the Year, Outstanding Woman In Innovation, Social Innovation, Green Innovation, Outstanding Faculty In Innovation, and Outstanding Student In Innovation. Gibson continues, saying the diversity in award categories was part of the event’s goal to “acknowledge innovation throughout southeast Ohio.”
 
Finalists were chosen through a nomination process at gala.ohio.edu, and judges made their decisions using specific criteria, also listed at the website.
 
·      Entrepreneur of the Year: Francesca Hartop, Yost Engineering, Inc.
·      Outstanding Woman In Innovation: Kelly McCall, assistant professor of endocrinology
·      Social Innovation: Brad Mitchell, Ohio Appalachian Collaborative
·      Green Innovation: Geoff and Michael Greenfield, Third Sun Solar
·      Outstanding Faculty In Innovation: Jason Trembly, Russ College of Engineering and Technology, Ohio University
·      Outstanding Student In Innovation: Huiwen Cheng, Ohio University doctoral student in chemistry
 
In addition, two individuals were selected by the Ohio University Foundation for the Konneker Medal for Commercialization and Entrepreneurship, named after distinguished Ohio University (OU) alumnus and entrepreneur, Wilfred Konneker. Recipient David Scholl grew Diagnostic Hybrids from a four-person stratup to the Inc. 500 list during his tenure as president and CEO. John Kopchick, a Goll-Ohio Eminent Scholar and OU professor of molecular biology, developed the FDA-approved drug, Somavert. Besides benefiting thousands of patients, the drug has additionally generated significant licensing income for the university.
 
Based on the reception, Gibson says Ohioans can expect to see the Innovation Awards back in 2014. “We were very pleased with how the first event unfolded,” she says. “I know we’re looking forward to doing the event again next year, and we’re hoping even more people from the region get involved.”
 

Source: Andrea Gibson
Writer: Joe Baur

TEDx, an independently organized intellectual conference licensed by the global TED event, will be hosted by Xavier University at the Cintas Center on April 17. Last year's premiere was met with great success, and this year's event will include a multitude of speakers.

TEDx was started to mimic the larger TED’s format with multiple speakers, demonstrators and performers who seek to share “ideas worth spreading.” Nicholas Turon took on the lead role in organizing this year’s event with Xavier students who study the full spectrum of academic disciplines.

“I love TED and everything it stands for,” says Turon, who studies music education. “This is something we can be proud of. We’ve helped create an environment you don’t normally get in classes.”

Organized entirely by Xavier students, they view TEDx as an important legacy to leave for future students.

“There’s only so much you can do to change a university in four years,” says Sam Seigle, who is the head of speakers and sponsors for the event. “This is our special opportunity to make a lasting tradition. We hope it will grow more prestigious every year.”

Due to budgeting constraints, the event will have a smaller capacity than last year's. While 2012 reached its registration limit of 400 attendees within a week, this year, there will only be 200 available seats. Turon says the scaled-down event will offer participants a more intimate experience with speakers.

The organizers are eager to make TEDx a continual success, which relies on spreading the word to promoters and interested audiences. Registration for tickets to the event is available here.

By Sean Peters

UpTech’s first year has been a big one. The six-month super accelerator attracted 57 ideas, and eight of those ideas were selected to become companies in its inaugural class—all eight of those companies graduated. Three of those companies received $90,000 in grant money; to date, those companies have received $230,000 in follow-on funding.
 
By 2017, UpTech has promised to bring 50 startups to Northern Kentucky, says Amanda Greenwell, UpTech’s program manager. The business accelerator has also promised to create jobs and provide money and support services to area businesses and its companies.
 
“Our goal is to create a culture of entrepreneurship, creativity and innovation in Northern Kentucky,” says Greenwell.
 
UpTech wants to continue building on its successes and contribute to a culture that understands startups. “We want to create an ecosystem in Northern Kentucky and Greater Cincinnati that creates a place for graduates of NKU's College of Informatics. We want to be a catalyst for that.”
 
UpTech is a new business informatics accelerator that was launched last year by several community investors, including Northern Kentucky Tri-ED, Northern Kentucky ezone, Northern Kentucky University and Vision 2015.
 
By Caitlin Koenig
Follow Caitlin on Twitter

NorTech celebrated seven Northeast Ohio companies last week at its 13th annual NorTech Innovation Awards. The companies were recognized for developing new technologies that contribute to the economic success of the region.
 
“Innovation is critical in sustaining U.S. competitiveness, especially in this constantly changing global marketplace,” says NorTech CEO Rebecca Bagley. “We want to really highlight these innovations. Our goal is to create jobs, attract capital and generate a long-term economic impact in the region.”
 
The awards were given out in six categories: advanced energy; advanced materials; biosciences; flexible electronics; instrumentation, controls and electronics; and water technologies.
 
Local companies honored include Quasar Energy Group, which paired with Forest City Enterprises to build an anaerobic digestion facility on a brownfield in Collinwood. The facility, known as Collinwood BioEnergy, takes organic waste and turns it into electricity for Cleveland Public Power.
 
The system generates 1.3 megawatts of electricity per day and saves 42,000 wet tons of trash from landfills each year. Quasar has created more than 60 Ohio jobs with this technology.
 
Cardioinsight, formed by a CWRU professor and two engineering students, was honored for its development of a lightweight vest that aids in the diagnosis and treatment of electrical disorders in the heart. Cardioinsight paired with Nottingham Spirk to design and develop the vest.
 
“It’s a great partnership,” says Bagley. “They have a prototype that works and is also comfortable for the patient.”
 
Cleveland HeartLab, a spinoff from the Cleveland Clinic, developed clinical tests for myeloperoxidase, which is a plaque in the blood that indicates patients’ risks for heart attacks. Cleveland HeartLab has created more than 100 jobs since its start in 2010 and revenue has grown by 100 percent each year.
 
Other companies honored were NASA Glen Research Center, Akron Surface Technologies, Codonics and SNS Nano Fiber Technology.

 
Source: Rebecca Bagley
Writer: Karin Connelly

Housed in an historic Portsmouth shoe factory dating back to 1890, Yost Engineering is doing cutting-edge work on sensors to provide a solution to movement and orientation challenges.
 
The company’s new YEI 3-Space Sensor took three years to complete. “It’s an inertial sensor,” explains Francesca Hartop, ceo. “This means it can be attached to a person or object to provide precise information on that person’s or object’s motion and acceleration, as well as any impact experienced.”

Hartop notes that, while some highly accurate sensors exist, they’re very expensive. And, she points out, affordable versions are not very accurate.  “We wanted to combine high accuracy with low cost to provide the benefits of inertial sensors to a broader range of products and industries. Usually, you have to balance cost versus quality. With our YEI 3-Space Sensor, however, there’s no longer that trade off.”

The sensor has several applications. “Because it measures the motion and acceleration of objects, it’s used to control the navigation of autonomous vehicles, robots or marine vehicles,” she explains. The device is also used in sports analysis to study how the movement of an athlete or equipment affects performance.

Yost is also working with partners in physical medicine and rehabilitation and related patient support services that would like to use the sensors for applications such as tremor analysis in Parkinson’s patients and monitoring joint angles in recovering knee-replacement patients.
 
In addition, the YEI 3-Space Sensor is currently being tested by the Department of Defense (DOD) in several situations in which navigation needs can’t be feasibly or consistently accomplished by GPS, Hartop explains. “This includes tracking people and objects, as well as aiding in automated mapping, a technique in which a person or robot quickly runs through an area and the sensor data provides a full map without anyone having to draw or measure it out.” It’s anticipated that the DOD testing will be completed this year.
 
The company, which has received Third Frontier funding, has 28 staff members.
 

Source:  Francesca Hartop, Yost Engineering
Writer:  Lynne Meyer
 

This week, Detroit-based Digerati launched its Intern in Ohio program to the public, which is sponsored by the University of Toledo. Like eHarmony, the program uses an advanced matching algorithm to match students with internship opportunities.
 
Intern in Ohio is free to both students who are looking for internships and businesses who want to post internships. To register, students and employers visit Intern in Ohio’s website to sign up and create a profile or post internship opportunities. Students fill out a short questionnaire about their preferences, and employers share information about the position. The system then identifies the top seven matches for each student, as well as for each position. When the match is made, both the student and employer are notified, and they must show interest before any contact information is shared.
 
“We encourage diverse companies—large and small, for-profit and nonprofit, government and corporate,” says Wendy Pittman, director of Digerati’s Classroom to Career. “It’s a great chance for employers to broadcast their company and internship program across the state and reach a larger pool of applicants.”
 
Only companies in Ohio can post opportunities to the Intern in Ohio website, but all types of internships are welcome. There are posts for marketing, engineering and social media, among others, says Pittman.
 
The program is open to all students who live in Ohio, whether they’re in-state or out-of-state students. Research shows that not only do internships often lead employment offers after graduation, but that students are more likely to remain in an area where they held and internship.
 
“This is the first replication of the Classroom to Career technology from Michigan to Ohio,” says Pittman. “Experiential learning is a game-changer; and we’re looking forward to working with smaller communities to make a difference.”
 
In 2011, Digerati launched its Intern in Michigan program, which has resulted in more than 127,000 matches and introductions between students and employers. Over 1,000 Michigan businesses have posted 4,824 internship opportunities, and 1,049 colleges and universities in the state use the site.
 
Full disclosure: hiVelocity's parent company, IMG, supplies content to Intern in Ohio on a contractual basis.
 
By Caitlin Koenig
Follow Caitlin on Twitter

The Hamilton County Business Center is Cincinnati's oldest incubator, and has evolved over the decades as the economy has changed.

Startups are leaner and meaner now than ever before, and HCBC is piloting the region's latest coworking space, where small businesses can get many of the benefits of being in an incubator without the higher overhead.

HCBC's CoWorks had a very quiet launch late last fall. With three businesses in the space, which is located in Norwood, Executive Director Pat Longo is now getting the word out about HCBC.

"This has grown out of our affiliate program," Longo says. "There were companies that weren't yet ready to apply for the incubator but they wanted to be around it."

HCBC has recently upgraded its conference room space, which has been attractive to small companies like SCORE, SBDC and Meetups that want to present themselves more professionally, says Longo.

HCBC has 45 companies that last year generated over $18 million in revenues, accessed over $8 million in capital and created nearly 50 jobs.

Renting CoWorks space on a month-to-month basis starts at $75 per month, and includes:

• 24-hour, 7-day-a-week access
• WiFi
• Concierge and receptionist services
• Free parking
• Fax, scanner and copier services
• Kitchen
• Up to four hours per month of conference room use
• A mailing address

"We talk about having an entrepreneurial ecosystem, but I like to think of (HCBC) as a coral reef," Longo says. "We have a lot of life, people can grow, there is lots of nourishment and places to go and hide if you need a quiet place to work."

CoWorkers will have access to the incubator entrepreneurial atmosphere, programming and resources. Some are free, while others have a fee attached.

"They'll get the benefits of being a client," Long says. "And we hope when they are ready, they'll move into the incubator."

Currently, there is space for about 12 companies, with potential room to grow. Interested businesses can find out more on the CoWorks website, where interpreters can fill out an application.

By Feoshia H. Davis
Follow Feoshia on Twitter

A team of Cleveland Clinic researchers have found that regular screening for Lynch Syndrome, the top genetic cause of adult colon cancer, can significantly reduce the occurrence of subsequent cancers. Researchers screened all colorectal cancers surgically removed at the Clinic for Lynch Syndrome and referred those who tested positive to genetic counselors.

Lynch Syndrome affects patients at an early age and often leads to multiple colorectal cancers. Women are additionally more susceptible to uterine and ovarian cancers. By identifying the disease early, people with Lynch and their families can work with their doctors and counselors to keep an eye on signs of early cancers.
 
The research was led by Charis Eng, Hardis Chair and founding director of the Cleveland Clinic Lerner Research Institute’s Genomic Medicine Institute. The findings were published in the online Journal of Clinical Oncology.

“This paper shows successful implementation of a rapid, cost-effective system-wide screening to detect potential Lynch syndrome,” says Eng. “Because of this research, we know how to catch these things early and how to prevent them. If you are positive for Lynch, cancer can occur as young as age 25 and you should get a colon screening every year, and women should also get uterine screenings.”
 
Eng says patients with Lynch Syndrome can then weigh the surgical options when they are diagnosed with colon cancer. Patients may opt to have the entire colon removed, and women may opt to have the uterus and ovaries removed as well, to prevent future cancers.
 
“Instituting high risk surveillance early routinely saves lives,” Eng says. "It is an extreme challenge to bring genomics research to successful implementation in genomic medicine practices,” says Eng. “Here, we have achieved 100 percent successful implementation of universal Lynch syndrome screening.”

 
Source: Charis Eng
Writer: Karin Connelly

Bizdom and the Shaker LaunchHouse Accelerator (LHX) program each received $200,000 from the Third Frontier Ohio’s New Entrepreneurs (ONE) Fund to invest in a total of 20 startups. The two are the only business accelerators in Ohio to receive the funding.

While Bizdom’s program focuses on software and web opportunities in healthcare, consumer finance, real estate, entertainment, sports, online marketing and gaming, the LHX program centers on technology, internet, mobile and hardware/robotics industries.
 
However, Bizdom leader Paul Allen says they welcome all types of businesses to apply for their accelerator. “Every company today uses technology in some way, so the definition of technology companies is evolving,” he says. “We do like software, web and apps companies because they are less capital intensive, but we want to see everything. We’ll look at any technology business.”

LaunchHouse will accept applications for the August 12-week accelerator program starting tomorrow. Bizdom's application deadline for the summer program is March 17 and July 7 for the fall program.
 
The two organizations are looking forward to running their fall programs simultaneously. “We’re looking to collaborate and build jobs and the best businesses in Northeast Ohio,” says LaunchHouse CEO Todd Goldstein.
 
Allen says the two programs will be of historical importance in the region. “As far as I know, we’ve never had 20 companies at the same time,” he says. “We collaborate whenever we can, wherever it makes sense. The goal is to create lots of successful new businesses, create jobs and replace jobs that have been lost.”
 
Since January 2012, Bizdom has launched 18 new tech businesses in Cleveland, nine of which received follow-on funding and are profitable. LaunchHouse, which was recently named one of the best incubators in the North and Midwest by Elite Daily, has launched 10 companies in its inaugural accelerator program last summer, and has invested in 40 companies and raised $9 million in follow-on funding since 2008.

 
Sources: Paul Allen, Todd Goldstein
Writer: Karin Connelly