When Geoff Thorpe founded NDI Medical in 2002 with his neurostimulation device for bladder control, he saw a market with a lot of potential. The company sold its MEDSTIM device to Medtronic in 2008, kept the NDI name and branched into developing and commercializing new neurostimulation device companies.
 
The move has proved successful. NDI has launched two companies and has grown to 32 employees, 21 of whom work in NDI’s Cleveland headquarters. The company also has offices in North Carolina and Minnesota. Most recently, NDI Medical named Marilyn Eisele as president of the company. She has been with NDI about a year, previously serving as vice president of finance and CFO.
 
“What attracted me to the company was the innovation coming out of the collective enterprise,” Eisele says. “We took a step back after we sold the company in 2008 and decided to reinvent and continue the business as a development company where we develop new therapies.”
 
Since selling the company and regrouping as a developer of new technologies, NDI Medical has raised $17 million in private equity and another $9 million in grants and loans. In 2010, the company launched Checkpoint Surgical, which makes a device that allows surgeons to locate nerves and muscles before making an incision, and SPR Therapeutics, which develops nerve stimulation devices for pain management. Sales have doubled each year since Checkpoint was launched.
 
“In some ways we are a development company, and in some ways we’re an incubator company,” says Eisele. “We’re able to develop medical devices so each portfolio company doesn’t need its own team of engineers. It’s a very cost-effective way to use research.”
 
NDI Medical is in the process of launching a third company in the next few months.

 
Source: Marilyn Eisele
Writer: Karin Connelly

Nine young Northeast Ohio businesses were inducted into the Charter One Launch100 Leadership Circle on April 25. Local inductees included Nicole Zmij, CEO of Amplified Wind Solutions in Cleveland, Lindsay Sims, founder and CEO of Renter’s BOOM, Lissette Rivera, founder of SafeCare, all in Cleveland, and Shaquita Graham, CEO of King J Transportation in South Euclid.

“The Launch100 Leadership Circle really focuses on minority entrepreneurs and encourages them to take the risk of starting a new venture, particularly those who have the revenue potential of $10 million,” says Ken Marblestone, president of Charter One and RBS Citizens bank. “The Leadership Circle honors leaders within the Launch 100 group and works to inspire them to take risks and network with each other, and make sure they are recognized for their ideas and entrepreneurism.”
 
Founded in 2012, the Launch100 offers a peer networking opportunity for minority and women business owners with high growth potential.  “We’re focused on how to help these expanding businesses succeed,” says Marblestone. “We recognize them with an award and then offer conversation about the hurdles they’re facing. That whole dialog leaves the entrepreneurs full of motivation and ideas, and ready to tackle another hurdle.”
 
The induction ceremony was held at JumpStart’s offices. Other regional companies inducted included Body Phyx, Design Flux Technologies, On Demand Interpretation Services, OrthoData and Wahconah Group.

 
Source: Ken Marblestone
Writer: Karin Connelly

Building off the buzz created by Shaker LaunchHouse, an entrepreneurial incubator, the City of Shaker Heights has partnered with LaunchHouse, Cuyahoga County and Neighborhood Housing Services of Greater Cleveland to renovate two homes on Chelton Road into affordable housing for entrepreneurs.

The homes at 3553 and 3599 Chelton Road, directly behind Shaker Launchhouse in the South Moreland neighborhood, were vacant before the city acquired them. Shaker renovated the homes using $250,000 of Neighborhood Stabilization Funds, and is now in the process of transferring the properties to Neighborhood Housing Services. The agency, which specializes in affordable housing, will own and manage them.

The houses feature a total of nine "units" (a bedroom in a shared house with ample common space) that can be rented for $395 apiece. Amenities include high-speed Internet, free utilities, a comfortable green home with air conditioning, hardwood floors, free laundry and a ceiling projector hook-up in the living room for presentations. The homes are part of a multi-million dollar investment the city has made in the South Moreland community.

"We already have more applicants than we have units," reports Kamla Lewis, Director of Neighborhood Revitalization with the City of Shaker Heights. "We wanted to create a concentrated, collaborative community -- an environment for startups in the neighborhood, but a place where they could afford to live, as well."

Lewis says the first tenants will move into the completed homes as early as this week, and she expects all nine units to be fully occupied by June 1.

Applicants must be entrepreneurs at Shaker LaunchHouse. Its accelerator program begins this summer and has attracted entrepreneurs from outside of Northeast Ohio, who move here while engaged in starting their companies.

Lewis says the project is the first of its kind that she is aware of, and that the city's investment in South Moreland has already attracted further private investment, including several new businesses and a new $5 million apartment complex.


Source: Kamla Lewis
Writer: Lee Chilcote

On Thursday, May 2, Bad Girl Ventures celebrated nine finalists in its business plan competition during its spring 2013 graduation ceremony at The Galleries at CSU, announcing the winner of its $25,000 BGV loan and other awards.

Jewels Johnson, owner of the Sugar Plum Cake Company, earned the $25,000 loan for her custom cake bakery. She plans to use the loan to open and expand her new physical store and offices, as well as develop her Devour! Gourmet Baking Mixes line.
 
“We were very impressed with her approach and creativity,” says Reka Barabas, director of BGV Cleveland. “Jewels was super-energetic during the entire course. She went the extra mile and followed up.”
 
The nine women-owned businesses spent nine weeks in BGV’s business course, hashing out their business plans and tweaking their businesses. The class culminated with the participants giving a 60-second pitch to a selection committee.
 
In addition to the grand prize, Su Nimon of Journey Art Gallery and Kelli Handley of The Agrarian Collective each received $5,000 loans from a private giving circle. It was also announced that Jillian Davis of Toast Wine Bar, a BGV Fall 2012 finalist, received a loan from BGV partner the Economic Community Development Institute (ECDI).
 
“All of the finalists are impressive because of their huge passion in what they do,” says Barabas. BGV will continue to work with its partners in the upcoming weeks to help the other finalists secure business loans.
 
BGV will be accepting applications for its fall business class from June 1 through Sept. 1.

 
Source: Reka Barabas
Writer: Karin Connelly
 

Cleveland rocks, that much we know. But it also is home to a band of crafty individuals who make music in a more physical sense, by building the instruments others use to play beautiful music. Guitars, amps and pipe organs all are handcrafted by passionate peeps right here in town.

Project and Construction Services provides owner's representation and design-build services to clients, so it's appropriate that the growing 53-person firm custom-built its new offices. Now that it's settling into its new space in the Erieview Tower, executives are experiencing their Goldilocks moment: Just right.

"We decided to right-size our space for our present needs, forecasting into the future," says CEO Bob Strickland, who downsized from 12,500 to 10,300 square feet -- despite adding staff -- by designing the space efficiently. "We have staff that come in from the East Side, West Side and Akron, so we've found downtown serves our needs the best, and we enjoy the vibrant downtown atmosphere."

The new 21st floor headquarters offers views of the lakefront and a kitchen outfitted with pendant lights from Ohio City-based Glass Bubble Project. Strickland and his wife recently moved to Tremont after living for 28 years in Mentor, and they've become big fans of the eclectic glass blowing studio behind the West Side Market.

PCS right-sized its offices by reducing conference rooms and support areas, creating a "huddle space" in the lobby that can be used as a meeting space, and reducing the number of storage, IT and work rooms. The office includes open work stations to accommodate future growth. Strickland says designing offices more efficiently has become a major trend in 21st century workplace design.

PCS looked at a number of spaces downtown but selected Erieview because of the potential to customize the space within an existing shell. The firm worked with owner Werner Minshall and HSB Architects on the design and buildout. Strickland says that being in the NineTwelve District is a plus, as the area has recently gained new restaurants and employees enjoy the food trucks on Walnut Wednesdays.

The company is working on a number of projects in Cleveland currently, including the Victory Building, W. 25th Street Lofts and Residence Inn. The company has offices in Wheeling and Charleston, West Virginia, with 26 staff downtown.


Source: Bob Strickland
Writer: Lee Chilcote

Abode, developer of the Clifton Pointe Townhomes in Lakewood, is set to break ground on the next phase of the project. As soon as this month, the company could break ground on an additional five units to complement the 17 that have already been sold.

Principal Andrew Brickman says that buyers are drawn to the high-quality, green-built construction, the walkable location in the West End of Lakewood, and the views of the Rocky River Valley and Lake Erie. "I wish we could build another 30 of them," he says. "I think we could sell them."

The five units that are planned have drawn the ire of some local residents. About a dozen attended a recent Lakewood City Council meeting to protest the developer's request for a zoning change to allow townhomes, as well as the 10-year tax abatement.

The Lakewood Planning Commission recently unanimously voted to approve the rezoning and the project now moves to the regular council meeting for a full vote.

Brickman claims Abode is set to break ground on Phase II even though Phase I is not finished. All Phase I units are sold, but construction work is not complete and they haven't yet closed. He attributes his confidence in the market to the buyer response to Phase I, as well as the increased number of buyers in the market.

"Our buyers are people who put a high premium on lifestyle, who want open space for entertaining and no-maintenance living," he says. "They're people who get it. They're people who aren't waiting in line for an hour and a half at the Cheesecake Factory to eat a mediocre meal. I have a couple coming all the way from Solon, another from Chagrin Falls. They're coming because the product is unique."

The units feature classic modernist design, sunken living rooms with high ceilings and large windows, living-level decks and roof decks. They are priced from $379,000 for a two-bedroom, two-and-a-half-bath unit with 1,770 square feet. Phase I offered a 10-year, 100-percent tax abatement on the improvements.

Brickman says his project is a chink in the armor of urban sprawl. "We’re trying to turn around the trend, bring people back to the core and walkable neighborhoods."

Abode is working to obtain bank financing for Phase II. Brickman says that he is seeing more and more buyers wade into the housing market this year. He and his partners are also shopping around Cleveland for another development project.

As for whether or not prices will go up with Phase II, he just says, "We're trying."


Source: Andrew Brickman
Writer: Lee Chilcote

With downtown Cleveland's office vacancy rate three percent lower than it was two years ago and vacancy rates hovering around four percent for apartments, new retailers are leasing empty storefronts in the area. Eleven new retailers will open this year, bringing fresh concepts to the local scene.

New offerings include Cleveland Chop in the former Cleveland Chophouse location on St. Clair, Mirch Masada, Red the Steakhouse, four new shops in the Fifth Street Arcades, Walk in the Park Cafe, Table 9 Martini Lounge and Market Creations Cafe.

Michael Deemer, Vice President of Business Development and Legal Services for Downtown Cleveland Alliance (DCA), cites Walk in the Park and Table 9 as two examples of downtown's resurgence. "We're seeing the area around Perk Park in the NineTwelve District attract new investment in long-dormant retail spaces formerly occupied by One Walnut and the Atlanta Bread Company," he says.

Although Red the Steakhouse isn't slated to open until late summer or early fall, Walk in the Park and Table 9 could open within the next month, Deemer says.

It's a sign of the market's health that empty spaces are being filled. "Cleveland Chop is being reopened by the original owner of Rock Bottom Brewery," he says. "It really does speak volumes that as places like Cleveland Chophouse and Bricco close and are in need of freshening the concept, they're reopening right away."

"There was a lot of concern initially when Cleveland Chophouse closed, but we knew... that there were literally dozens of inquiries as soon as the news hit."

Although office vacancy increased slightly in Q1 2013, Deemer says this is because of Eaton's departure. "We've had 25 new businesses move into downtown committing over 4,000 new jobs in the last two years," he says. "Retailers are responding exactly how we would expect them to, following where the people are."


Source: Michael Deemer
Writer: Lee Chilcote

Thanks to a brighter economy and heightened optimism about our city’s future, the Cleveland housing market is waking from its five-year slumber. Home sales are rising, prices are inching back to pre-recession levels, and stories of buyers getting outbid on homes are not at all uncommon.

PlayhouseSquare already is a gem in the crown of downtown Cleveland, yet its sparking renaissance will become even more breathtaking with the addition of a 20-foot-tall LED "chandelier spectacular" at E. 14th and Euclid in the theatre district.

That chandelier, boasting over 4,600 crystals and hoisted 40 feet in the air, is the centerpiece of a $16 million transformation that will bring the beauty found inside PlayhouseSquare's historic theatres out onto the streets of the district.

The project will also feature new electronic signage and lighting, gateway entry points to define the neighborhood, and the addition of a full-service cafe and state-of-the-art outdoor stage to the Star Plaza outdoor space. The district will gain some of the drama found in Times Square in New York City and Millenium Park in Chicago while retaining the elegant, historic character that's uniquely Cleveland.

"We believe this will be transformational," says Art Falco, President and CEO of PlayhouseSquare. "It's not just a district anymore, it's a neighborhood. We see it as an economic development project as well as a physical enhancement project. It will draw more office tenants and spur more residential and retail development."

The project was designed by the experiential design firm The Barycz Group, which has completed similar projects in Chicago, Las Vegas and Dubai.

PlayhouseSquare has not yet raised all of the funds necessary to complete the project, but Falco expressed confidence in the project's success. Star Plaza is already under construction and work will be completed in time for a slew of summer events. The remainder of the project will be completed in 2014. Public-private partnership, naming rights and philanthropic contributions will fund it.

"We feel we're going to set a very high level of design standard," he says. "I think that others who follow us will be compared to us."


Source: Art Falco
Writer: Lee Chilcote

In the age of digital everything, self-published periodicals are enjoying a bit of a revival. Geared towards those who prefer the tactile sensation of thumbing through an honest-to-goodness magazine, these indie pubs are filling voids left by declining mainstream print.