Arteriocyte, a leading clinical-stage biotechnology company with offices in Cleveland and Hopkinton, Mass., has been awarded a $1 million grant by the Ohio Department of Development's Third Frontier Commission. The company, which develops proprietary stem cell and tissue engineering based therapies, will use the grant for the development and commercialization of hematopoietic stem cell expansion for clinical applications.
The move is part of the Ohio Third Frontier Biomedical Program to accelerate the company's Good Manufacturing Practices (GMP) of its NANEX technology for clinical use under the product name HemaEx.
"The technology takes a small amount of stem cells and gets a large amount of stem cells," explains Adam Sorkin, Arteriocyte's director of research and development. "We are converting our existing process that is suitable for research to a process that is suitable for use in humans.".
Arteriocyte's therapies help find cures for chronic heart disease and peripheral artery disease, among other diseases.
The company, which was founded in 2004 as a spin-off out of CWRU, has seen rapid growth in the past couple of years, going from four employees to 80. The expansion will create between 15 and 20 jobs in the production facility.
Source: Adam Sorkin
Writer: Karin Connelly
More than 200 people in various industries donated their time and talent last weekend at the second annual Cleveland GiveCamp at LeanDog Software in Cleveland to help area non-profits.
Software and database developers, graphic designers, marketing professionals, copy writers, video producers, photographers, social media experts and food service volunteers donated more than 4,500 hours to 22 non-profit organizations, coming away with new technology applications valued at nearly $500,000 to help them in their efforts to help others.
"I think people want to be a part of a good thing," says GiveCamp spokesperson Amy Wong, adding that the 187 media volunteers is an exponential increase from the 100 people who helped out last year. "Thirty other cities participate, and we think we are one of the biggest."
Sponsors donated more than $14,000 in goods and services to make the event possible. Top sponsors included LeanDog, Burke Lakefront Airport,, Explorys, Hyland Software, OneCommunity, Rosetta, Saint Luke's Foundation and Sollie Rosen Memorial Foundation.
The volunteers worked long hours, often late into the night and early in the mornings to complete the projects. Organizations benefitting from the services were 501(c)3 groups in Northeast Ohio that had projects that could be completed over the duration of camp.
GiveCamp is an international initiative started in 2007 to bring together technology talent to help local nonprofits in need.
BlueBridge Networks in Cleveland and Bluemile in Albany, Ohio, have joined forces to offer a virtual powerhouse in data storage and recovery services. The joint venture offers the most robust, scalable and secure cloud computing platform with state of-the-art architecture and service delivery for companies and organizations.
The $11 million investment lets the two data centers easily provide cloud computing to large companies nationwide. Data can be passed quickly between Cleveland and Columbus thanks to Bluemile's acquisition of fiber optic internet cable that stretches between the two cities. BlueBridge's local clients include Hyland Software, Olympic Steel and Rosetta.
"Part of the value is you have a regional company that thinks regional, coupled with human interaction," says Kevin Goodman, managing director of business development and partner with BlueBridge. "We're going to bring cloud business here. Instead of sending your stuff to Seattle or Herndon, Virginia, you're sending it to Cleveland or Columbus."
No other regional data service center in the country provides this type of secure cloud computing. The collaboration enables a certain level of protection in times of emergency or data recovery needs. "We can deliver state-of-the-art, robust, efficient platforms and create jobs," says Goodman. "We've planted the right seeds and built the right infrastructure."
In fact, the partnership has created more than 60 jobs this year, 10 of them in Cleveland in sales, engineering and back-office positions, and BlueBridge is planning to hire even more in the near future. "We've had solid, constant double-digit growth," says Goodman. "This has us poised for exponential growth and jobs."
Source: Kevin Goodman
Writer: Karin Connelly
As a corporate attorney, Candace Klein has worked with a lot of women who own businesses. She saw many of her clients struggling to stay afloat -- maxing out personal credit cards and mixing personal and business accounts to make ends meet. "My heart went out to them," she recalls. She began researching alternative financing options and discovered a hard truth: Women have a harder time getting financing for companies than men.
So Klein decided to do something about it. In 2010, she formed her own company, Cincinnati-based Bad Girl Ventures. BGV is a localized microfinance company that educates women and helps them successfully fund their companies.
Since 2010, more than 200 businesses have applied for Klein's program, of those 125 have been educated and 18 have been financed with a total of $310,000. "Our goal is to remove as many barriers to accessing financing as possible," says Klein.
Now Klein is bringing Bad Girl Ventures to Cleveland. This October, entrepreneurs will be able to enroll in Klein's eight-week program to learn the basics behind running and financing a successful business. The participants will have the opportunity to compete for $25,000 in funding after completing the program.
Bad Girl Ventures will have one full time employee in its Cleveland location, while Klein will divide her time between Cincinnati and Cleveland. She hopes to have 50 applicants for the first class.
"Significant jobs will be created from our investment in these businesses," she says, adding that 37 jobs have been created in Cincinnati from the 18 companies she's helped.
Klein has gotten support from the Cleveland Foundation, the Business of Good Foundation, KeyBank and the City of Cleveland.
Source: Candace Klein
Writer: Karin Connelly