The Youngstown Foundation recently contributed $20,000 to the Youngstown Business Incubator (YBI) for capital improvements to its incubating facility on W. Federal Street. In the past year, YBI has approved six new portfolio companies for occupancy and the funds will be used to provide professional office space for these growing ventures as well as future applicants.
“YBI is appreciative of this substantial investment as it affirms the mission of YBI to assist technology-based entrepreneurs establish and accelerate their scalable, proprietary information technology applications,” states Julie Michael Smith, chief development officer of YBI. “YBI provides invaluable assistance to its portfolio companies which includes entrepreneurial counseling and access to business development resources in a professional atmosphere that allows them to grow and prosper.”
“The Youngstown Business Incubator has become one of the Valley’s most valuable assets for economic development with an impressive roster of innovative start-up business tenants producing well-paying jobs and attracting talent to the downtown area”, states Janice E. Strasfeld, executive director of The Youngstown Foundation. “The Youngstown Foundation is proud to continue supporting YBI’s vital work through this grant to renovate the facility in preparation for its next entrepreneurial successes!”
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Presented by David E. Nash, Partner, McMahon DeGulis LLP.
In this session, David E. Nash will make the business case for sustainability. Mr. Nash will discuss risks and opportunities, external and internal drivers, and sustainable business tools. As a Partner at McMahon DeGulis, Mr. Nash’s practice emphasizes traditional areas of environmental legal experience plus corporate sustainability, climate change, advanced and renewable energy, and emerging environmental technologies that are environmentally related. He is a co-founder of Corporate Sustainability Network (formerly Sustainable Cleveland).
Location
June 26, 2009, 11:45 a.m. - 1:15 p.m.
Beachwood Business Development Center,
Three Commerce Park Square, 23230 Chagrin Blvd., Suite 900, Beachwood
Fees & Registration
The program fee is $12.00 per lecture. Program fee include lunch, lecture and parking. Pre-registration is required.
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On Wednesday, June 17th at 3:00 pm, Fireline, Inc. will host the Innovation Series. Established more than 40 years ago by Roger and Gloria Jones, Fireline will share how it evolved from a traditional manufacturing company to a technology-driven advanced manufacturing operation.
The company is recognized in the high performance ceramic manufacturing market for its commitment to innovation and research. From a few employees in 1975 to almost 100 people, Fireline has focused on technology, research and workforce to grow this innovative company with an international presence and entrepreneurial flair. An employee-owned company, it has a strong commitment to the Mahoning Valley with its support of Youngstown’s Smoky Hollow area redevelopment, the Children’s Center for Science and Technology and Youngstown State University.
The program will be held at Fireline, Inc. 300 Andrews Avenue, Youngstown. The program is free but reservations are required and can be made by contacting Julie Michael Smith, Chief Development Officer, Youngstown Business Incubator at jmsmith@ybi.org or 330-259-7644.
Innovation Series is a networking and educational forum that brings together innovative, progressive people with a vision - to catalyze a dynamic, entrepreneurial environment in the Mahoning Valley. The Series is for companies to showcase new technologies, for technology organizations to share resources, for entrepreneurs to build relationships, for educators to highlight their initiatives - it is a place for innovative talk, robust debates, inquiring minds. Sponsored by the Advanced Manufacturing Initiative (a program of YSU’s College of STEM) and the Youngstown Business Incubator, it is an opportunity to learn about the “cool things” going on - right here in the Mahoning Valley! The Innovation Series is underwritten, in part, by the Dominion Foundation.
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For any small business and especially for early stage startups, creating exposure and getting your message out can be a distraction in addition to costing money you may just not have. Sure there are lots of new Web 2.0 tools out there that can be leveraged, but many of them still take what amounts to significant time for an entrepreneur, and may require some specialized marketing, PR or IT skills to appropriately portray your company or brand.
While a lot business owners are still scratching their heads when it comes to Twitter, a recent post over at the SmatBlog on Social Media suggests Twitter may be an excellent starting point for small businesses to take advantage of social media channels. This short posts lists three ways Twitter can benefit a small business or startup (with virtually no cost):
- Use it as a home base
- Get market research
- Find leads
Of course, no tool is without cost. This article, like many Twitter-focused articles, neglects to factor in the time and effort involved in attracting followers to your account, and you will need a strategy. That said, for a very small amount of time spent using Twitter you may be able to reap significant benefits for your small business.
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The latest out of YBI, via Jim Cossler:
For the third time in as many decision cycles, the Innovation Alliance Fund has chosen to make an early stage investment in a portfolio company of the Youngstown Business Incubator.
This round, the investment was in Bizveo. The firm will shortly begin Beta trials of its Web2.0 software that transforms the way that organizations educate and communicate with employees and clients through the use of streaming video that is accompanied by competency based testing for producing measurable results. For more information this exciting new product, visit www.bizveo.com.
A major hospital system has agreed to serve as an initial Beta testing site.
Would your organization be interested in doing the same?
Beta, ba ta’, n. [ Gk. , second letter of the alphabet] A period when a recipient receives a new software at no cost for a limited period of time in exchange for feedback on how it might be improved. Then later has the option of buying it for a dirt cheap price. Really dirt cheap.
But, you knew that, right?
Jim Cossler
CEO and Chief Evangelist
Youngstown Business Incubator
330.884.6262
www.ybi.org
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In a news conference Friday, the Akron Global Business Accelerator announced the attraction of two new Israeli technology companies. Executives from the two companies suggested that up to 80 new jobs could be created over the next couple of years. The technologies involved are:
- Remote-monitoring systems with diverse applications; e.g. allowing medical professionals to monitor the health of and speak to a home-based patient using a watchlike device
- Products around a terahertz radiation power source which dramatically amplifies current detection capabilities. One application is a scanning device that would pick up trace elements of explosives from a distance, perhaps ending the need for airline procedures such as passenger shoe removal.
Congratulations AGBA - two exciting new technology companies creating jobs in our region. Read the entire story here.
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By
NEOinc on May 26, 2009 in
Funding |
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A short but insightful article over at Ask the VC blog outlines some best practices for first-time entrepreneurs on how to build credible financial projections. You really should click over and read the full post, but here are the highlights:
- Accept that your revenue side will probably not be correct, but the cost side needs to be appropriate
- Don’t assume a big revenue ramp to be supportable
- Define the “next stage” of your business, what it will cost to get there and what it will look like
- Be up front with investors that this is your first time and you are looking for feedback
- Don’t be afraid to ask for help
Good Luck!
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Summit Data Communications, a tenant in the Akron Global Business Accelerator, recently received certification for Version 4 of Cisco Compatible Extension. As reported in the Akron Beacon Journal:
Summit Data Communications, an Akron-based provider of wireless cards for mobile devices in challenging environments, said it is among the first to be approved for Cisco Systems-compatibility in medical equipment.
Summit parts have been certified for Version 4 of Cisco Compatible Extensions for use in two Philips PageWriter cardiographs. CCX is a program that tests how well Wi-Fi client devices work with products from the global networking giant.
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According to this insightful post on Harvard Business Publishing, at least three important traits of entreprneurs can begin to work against them when the business needs to scale: Persistance, Control and Loyalty.
The author, Anthony Tan, starts by suggesting the basic DNA of an entrepreneur is a mix of smarts, guts and luck. From there he dives into the three characteristics listed above with a good analysis of how they can be both a strength and a weakness. In short, as your company grows, be sure that
- Your Perseverance doesn’t become stubborness
- Your Control doesn’t become an inability to delegate
- Your Loyalty doesn’t cloud your business judgement
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