Greater Cleveland Partnership’s (GCP) Council of Smaller Enterprises (COSE) announced yesterday, Wednesday, Aug. 28, the winners of the seventh season of Cleveland Chain Reaction, a neighborhood economic development project and small business pitch competition.
Balance Cheer and Gymnastics, an athletic facility serving predominantly underrepresented female youth, won the top prize of $40,000.
Covermecutee, a clothing company offering designs that celebrate modesty without compromising style, comfort or sustainability, took second place and won $20,000
CLE Urban Winery, a working winery and tasting room in Cleveland Heights’ Cedar-Lee neighborhood, won third-place and received $10,000. All three winners also received complimentary advertising space from Mimi Magazine.
The first-place winner that received $40,000 was Balance Cheer and GymnasticsThe 17 remaining semifinalists received $1,250 grants funded by competition partners Medical Mutual, Minutemen Family of Companies and MAGNET, along with discounted advertising from Mimi Magazine.
All participants received COSE memberships and will continue to be supported by the organization. The winners and awards were announced live at Ariel LaSalle Theatre during yesterday’s “Kickin’ it with Kenny” on FOX 8 News in the Morning.
“The true diversity of businesses that participated this season is further proof that entrepreneurship is growing and thriving in our region,” Megan E. Kim, GCP executive director of COSE and senior vice president, membership development and marketing said in a statement. “It was inspiring and exciting following these entrepreneurs through their journeys, hearing their stories, and learning how they want to make a big impact by creating jobs and contributing to the overall economic vitality of Greater Cleveland.”
The 20 semifinalists participated in a four-week bootcamp hosted by JumpStart where business experts, including those from SCORE Cleveland, advised them on how to pitch their business, create a business plan, place value on their business and appropriately invest capital.
Earlier this month, the entrepreneurs pitched their businesses to a panel of judges for the opportunity to win capital investment.
The remaining season seven semifinalists included (in alphabetical order):
Cleveland Chain Reaction was inspired by Cleveland Hustles, the reality series produced by LeBron James that aired on CNBC in 2016 and is an independent and unrelated effort that supports the continued opportunity that Cleveland Hustles initiated.
The competition is produced by COSE in collaboration with FOX 8 News in the Morning’s “Kickin’ it with Kenny.” Mimi Magazine is a print publication partner, while FreshWater Cleveland is Chain Reaction’s digital media partner.
This season of Cleveland Chain Reaction is sponsored by Medical Mutual, Minutemen Family of Companies, and MAGNET.