Cleveland is an entrepreneurial hotspot right now, and big business in Cleveland wants to make sure local women-owned outfits have equal footing. Springboard Enterprises has joined forces with Ohio-based powerhouses KeyBank, Thompson Hine, and Meaden & Moore to provide women with the keys to building big businesses.
Build it Big is a business development program for women-owned businesses on the fast track to growth. "It's about educating business owners on how to find equity investors and financing," says Maria Coyne, executive vice president of business banking for Key. "It's really about targeting for growth and the desire to grow rapidly."
Applications are being taken through May 23. The number of applicants accepted into the program depends on how many apply, but all applicants will get at least some input. To qualify, companies must have a woman in a key management position with a significant ownership stake; demonstrate a qualified and profitable market opportunity, a track record of milestone achievement and a credible core management team or an ability to attract one.
Companies selected to participate will meet one-on-one with the Build It Big partners to chart effective strategies for growing their businesses, including choosing the right capital, getting the fiscal house in order, and important legal issues such as product licensing, royalties and protecting the company's intellectual property.
The program can only mean good things for Cleveland's entrepreneurial spirit. "We think it's great for Cleveland because we like to grow our own," says Coyne. "We have an entrepreneurial history. Build it Big improves sustainability and growth for all our businesses. And we want to have a shared interest in their success."
Source: Maria Coyne
Writer: Karin Connelly
This story originally appeared in hiVelocity's sister publication, Fresh Water Cleveland.