Regional Economy
Seventeen companies in various stages of development pitched their causes to about 30 local investors last Thursday, June 4 at MAGNET’s ProtoTech: Invest at the Metropolitan at The 9. All of the companies are in significant fund-raising mode.
“It was a good event, it was a lot of fun,” says Dave Crain, executive director of the Incubator at MAGNET and ProtoTech organizer. “I don’t think people realized how many great startups are in the region. There were 17 presenters and not a dud in the group.”
Crain traveled to other entrepreneurial hubs around the country to research “investment summits,” or pitch events geared toward attracting investors. ProtoTech: Invest, was the first event of its kind in the state, Crain says. “No one is really doing it in Ohio, statewide,” he says. “Great entrepreneurial regions do these all the time.”
In fact, Crain says he will consider hosting ProtoTech: Invest a couple of times a year, based on feedback he heard from investors in attendance. “There are lots of great opportunities, lot of great companies, but we need more money in the region,” he says. “I would tell the investors, when we do this next time, call all your friends on the coasts.”
While investors on the East and West coasts have started to take notice of Cleveland’s entrepreneurial scene. “I do think it’s changing,” Crain says. “The coasts have a much more developed ecosystem out there.”
But Crain enjoyed hearing about the progress of many of the startups presenting on Thursday, such as Rick Pollack’s 3-D printer manufacturer MakerGear. “I know Rick, but I never realized they are the number-one rated company on Amazon,” Crain says. “They’re asking for money to fund their growth. It’s fun to hear how much they’ve grown. There’s a breadth of opportunity here, from life sciences to products.”
“It was a good event, it was a lot of fun,” says Dave Crain, executive director of the Incubator at MAGNET and ProtoTech organizer. “I don’t think people realized how many great startups are in the region. There were 17 presenters and not a dud in the group.”
Crain traveled to other entrepreneurial hubs around the country to research “investment summits,” or pitch events geared toward attracting investors. ProtoTech: Invest, was the first event of its kind in the state, Crain says. “No one is really doing it in Ohio, statewide,” he says. “Great entrepreneurial regions do these all the time.”
In fact, Crain says he will consider hosting ProtoTech: Invest a couple of times a year, based on feedback he heard from investors in attendance. “There are lots of great opportunities, lot of great companies, but we need more money in the region,” he says. “I would tell the investors, when we do this next time, call all your friends on the coasts.”
While investors on the East and West coasts have started to take notice of Cleveland’s entrepreneurial scene. “I do think it’s changing,” Crain says. “The coasts have a much more developed ecosystem out there.”
But Crain enjoyed hearing about the progress of many of the startups presenting on Thursday, such as Rick Pollack’s 3-D printer manufacturer MakerGear. “I know Rick, but I never realized they are the number-one rated company on Amazon,” Crain says. “They’re asking for money to fund their growth. It’s fun to hear how much they’ve grown. There’s a breadth of opportunity here, from life sciences to products.”
Shaker Heights, Cleveland Heights and Lakewood are on the forefront of using the CDC model.
Startup Scaleup, a daylong event on June 17th, will offer resources, networking -- and ice cream -- for Cleveland’s startup businesses.
Northeast Ohio is still a mega manufacturing center for one thing: theatre arts. And when it comes to summer theatre opportunities, parents are spoiled for choice.
The Goldman Sachs 10,000 Small Businesses initiative has brought new jobs and economic opportunity to Northeast Ohio in its first three years.
This weekend, enjoy authentic Greek food at Tremont Greek Fest, indulge in brunch at Hingetown’s May Market, tear it up at East Meets West's 2015 Game of S-K-A-T-E and more.
The Flashstarts business accelerator and venture fund recently moved from Playhouse Square to a much larger location in Terminal Tower for two basic reasons, says cofounder Charles Stack.
The first reason was to make it easier for startup companies to find stable office space. The second was to condense newbie entrepreneurial efforts into StartMart, a single, highly energetic nucleus where water cooler moments can foster new ideas and economic growth.
This concept of "engineered serendipity" began May 16th when Flashstarts, which provides coaching, funds and other resources to new companies that participate in a 12-week program, left for its new 30,000-square-foot headquarters on Public Square, a space six times larger than its previous office.
"I've been doing this for 30 years, and I've never been more optimistic about startups having the opportunity to turn this region into a powerhouse," says Stack, who began planning StartMart with fellow Flashstarts founder Jennifer Neundorfer last spring. "This move is a small step in that direction."
Flashstarts itself will be the hub's first official tenant in the lead-up to a public launch in September. Over the summer, the accelerator will engage the community for feedback on StartMart's design and begin identifying and communicating with potential members. Though the group's focus is on use of software and technology, Stack expects a diverse range of occupants to fill the space.
"It's wide open to anyone who wants to join," he says.
Participants will work in a flexible space where privacy is an option even as collaboration is encouraged. Ultimately, StartMart will stand as a focal point for large-scale innovation.
"We want this to be a global center for startups," says Stack. "Cleveland can be a great home base (for small businesses), and we need to play up that strength."
The first reason was to make it easier for startup companies to find stable office space. The second was to condense newbie entrepreneurial efforts into StartMart, a single, highly energetic nucleus where water cooler moments can foster new ideas and economic growth.
This concept of "engineered serendipity" began May 16th when Flashstarts, which provides coaching, funds and other resources to new companies that participate in a 12-week program, left for its new 30,000-square-foot headquarters on Public Square, a space six times larger than its previous office.
"I've been doing this for 30 years, and I've never been more optimistic about startups having the opportunity to turn this region into a powerhouse," says Stack, who began planning StartMart with fellow Flashstarts founder Jennifer Neundorfer last spring. "This move is a small step in that direction."
Flashstarts itself will be the hub's first official tenant in the lead-up to a public launch in September. Over the summer, the accelerator will engage the community for feedback on StartMart's design and begin identifying and communicating with potential members. Though the group's focus is on use of software and technology, Stack expects a diverse range of occupants to fill the space.
"It's wide open to anyone who wants to join," he says.
Participants will work in a flexible space where privacy is an option even as collaboration is encouraged. Ultimately, StartMart will stand as a focal point for large-scale innovation.
"We want this to be a global center for startups," says Stack. "Cleveland can be a great home base (for small businesses), and we need to play up that strength."
An immigration proposal with local ties has connected groups statewide in the battle for brainpower.
Financial cuts and aging infrastructure require creativity for a transit authority seeking to connect riders to new and improved rapid transit stations.
Wood burning artist Gadi Zamir uses the space as his own studio as well as a place to host events and display many prominent artists.
When the Incubator at MAGNET launched ProtoTech last year, the event was a pitch competition for product-based start-ups competing for $25,000 in prize money. This year, organizers have shifted focus a bit with ProtoTech: INVEST – a networking and pitch event that is all about investment in growing companies.
“Last year it was a pitch event for really early stage companies,” says Dave Crain, the Incubator at MAGNET executive director. “This year we’re more about connections and networking than it is of a contest. It’s for presenters who are looking for $500,000 to $2 million in investments.”
There will be pitches, but in a less formal setting without voting or prize money at ProtoTech: INVEST. Fifteen to 20 technology based start-ups with a focus on products will showcase their companies to investors at the event. “It’s an opportunity to get the right people in the room to make connections, network and find funding,” says Crain, adding that ProtoTech: INVEST is the next step in pitch competitions.
“It’s just a part of the evolution, part of maturity,” Crain says. “There will always be pitch competitions, there always should be pitch competitions. We’re just building a pipeline. This is the next level of maturity as these companies grow up.”
Crain says the shift came in response to feedback from both sides involved in start-up fundraising. “What I’m really hearing from both the start-ups and investors is while Ohio has made a lot of progress, no one is doing this locally – this is something successful ventures cities are doing.”
Some of the companies already registered are Cleveland Whiskey, Vadxx, Biolectrics and Everykey.
ProtoTech: INVEST will be held at the Metropolitan at the 9 on Thursday, June 4. Registration and pitches will be from 2pm to 5pm; dinner and networking at 5pm. Presenters can register here; investors can register here.
“Last year it was a pitch event for really early stage companies,” says Dave Crain, the Incubator at MAGNET executive director. “This year we’re more about connections and networking than it is of a contest. It’s for presenters who are looking for $500,000 to $2 million in investments.”
There will be pitches, but in a less formal setting without voting or prize money at ProtoTech: INVEST. Fifteen to 20 technology based start-ups with a focus on products will showcase their companies to investors at the event. “It’s an opportunity to get the right people in the room to make connections, network and find funding,” says Crain, adding that ProtoTech: INVEST is the next step in pitch competitions.
“It’s just a part of the evolution, part of maturity,” Crain says. “There will always be pitch competitions, there always should be pitch competitions. We’re just building a pipeline. This is the next level of maturity as these companies grow up.”
Crain says the shift came in response to feedback from both sides involved in start-up fundraising. “What I’m really hearing from both the start-ups and investors is while Ohio has made a lot of progress, no one is doing this locally – this is something successful ventures cities are doing.”
Some of the companies already registered are Cleveland Whiskey, Vadxx, Biolectrics and Everykey.
ProtoTech: INVEST will be held at the Metropolitan at the 9 on Thursday, June 4. Registration and pitches will be from 2pm to 5pm; dinner and networking at 5pm. Presenters can register here; investors can register here.
Cleveland has played a starring role in several blockbuster films in recent years, creating an economic boom in the local film industry. Can local filmmakers build on that success?
This weekend, celebrate history and social justice at Station Hope, bowl with Clevelanders that have big ideas at Bowlectivo, relive the dream of the ‘90s at Mahall’s MTV Spring Break Dance Party, run four miles to support clean water and more.
Three new creative studios, BRICK Ceramic + Design Studio, Praxis Fiber Workshop and Ink House Annex, are set to open just in time for the summer season.
On Tuesday, over 500 guests gathered at the Victory Center in the Health-Tech Corridor to celebrate the sold-out Vibrant City awards, hosted by Cleveland Neighborhood Progress.
CNP President Joel Ratner told the crowd, “The facts are there. Data shows that our region is gaining brains and income, our city schools are making terrific improvements, and Cleveland’s population loss is ending. We are headed into an era of exciting growth.”
City of Cleveland Community Development Director Daryl Rush was honored with the inaugural Morton L.Mandel Leadership in Community Development Award. Other recipients were:
CDC Catalytic Project/Program Award
Fairfax Renaissance Development -- Intergenerational housing
Urban Realtor Award
Keith Brown and Dave Sharkey – Progressive Urban Real Estate
Developer Award
Keith Sutton and Dave Territo, Sutton Builders
Neighborhood Branding & Marketing Award
Downtown Cleveland Alliance – You and Downtown Video
Community Collaboration Award
Gordon Square Arts District (DSCDO, NWT, CPT)
Corporate Partner Award
Third Federal Saving
CNP President Joel Ratner told the crowd, “The facts are there. Data shows that our region is gaining brains and income, our city schools are making terrific improvements, and Cleveland’s population loss is ending. We are headed into an era of exciting growth.”
City of Cleveland Community Development Director Daryl Rush was honored with the inaugural Morton L.Mandel Leadership in Community Development Award. Other recipients were:
CDC Catalytic Project/Program Award
Fairfax Renaissance Development -- Intergenerational housing
Urban Realtor Award
Keith Brown and Dave Sharkey – Progressive Urban Real Estate
Developer Award
Keith Sutton and Dave Territo, Sutton Builders
Neighborhood Branding & Marketing Award
Downtown Cleveland Alliance – You and Downtown Video
Community Collaboration Award
Gordon Square Arts District (DSCDO, NWT, CPT)
Corporate Partner Award
Third Federal Saving
The orchestra's residency, which continues through May, is an amalgamation of free concerts, community service efforts, educational collaborations in local schools and health and wellness events over a three-month period.
Through turning inventors' ideas into medical products and services, CCI has created 73 spinoff companies in the past 15 years, including some that have become recognizable entities in Cleveland and worldwide.
