University Hospitals Case Medical Center has spun off Fluence Therapeutics Inc., licensing to the company photodynamic therapy technology for the treatment of psoriasis and other skin diseases, according to MedCity News:

It’s the first time the Cleveland medical center has made a pre-seed investment in a start-up company, according to the center’s release. Fluence Therapeutics is housed at the Akron Global Business Accelerator, which is part of the city’s Biomedical Corridor District.

Cleveland attorney and entrepreneur Warren Goldenberg has become Fluence Therapeutics’ founding chief executive, said Stephen Behm, technology management director at the Center for Clinical Research and Technology UH Case Medical Center. “He has a successful track record with early stage companies,”  including CardioInsight and Imalux, that were developed at Case or University Hospitals, Behm said in the release.

Read the entire article on the MedCity News site.

We are thrilled to announce that Marv Schwartz has agreed to become the new Chief Science Officer of the Youngstown Business Incubator. In that capacity, he will be applying his considerable experience, expertise and personal talent network toward helping our portfolio bring their software products to market.

Marv is a serial entrepreneur with a history of launching highly successful technology ventures. He is perhaps best known as being the Founder, CEO and CTO of Noteworthy Medical Systems, the award winning electronic health record company that soared to $50million in revenues in just five years. Marv received his Ph.D in Computing and Information Sciences from Case Western Reserve University where he serves as an Adjunct Professor of Computer Sciences.

Welcome aboard Marv. Now roll up your sleeves and help us build a couple dozen more $50million companies.

Jim Cossler
C.E.O & Chief Evangelist
Youngstown Business Incubator

A: The Akron Global Business Accelerator, of course (well, at least according to Governor Strickland).

The Governor made the remarks when he was visiting Echogen Power Systems (formerly ReXorce Thermionics) in the accelerator.  Echogen is developing an engine that turns the heat thrown off by industrial processes into useful electricity.  The company, a tenant of the Akron Global Business Accelerator, employs 20 people, many of them engineers at ”good paying” jobs, Strickland said.  Echogen expects to hire an 45 to 65 office employees and 50 to 75 manufacturing employees in the next five years.

Echogen received a $4.3M Third Frontier grant in 2008 that their CEO credited with shaving a year and a half off their development timetable.  The company has also attracted millions of dollars from other investors, including the regional business development group JumpStart Inc.

The full story is available over on Ohio.com’s website as reported by Paula Schleis.  Paula can be reached at 330-996-3741 or pschleis@thebeaconjournal.com. Follow her on Twitter at http://twitter.com/paulaschleis.

Nancy Horton, Project Manager for Energy Industries Ohio (EIO), will speak on the development of Ohio’s advanced materials supplier base for clean coal, nuclear power, advanced energy and defense applications on Thursday, January 28^th at 3:00 pm at Youngstown Business Incubator, 241 W. Federal Street, Youngstown.

EIO works with directly with the Departments of Energy and Defense to identify manufacturers that have the capacity and skills to produce for these specific markets.  Supplier availability is crucial for advanced energy and defense projects. In particular, companies that forge, extrude and cast are integral suppliers to this projects.  Northeast Ohio companies such as Fireline, Republic Special Metals, Inc. and The Timken Corporation have collaborated with EIO on successful advanced energy and defense projects.

The program is free to attend, but reservations are greatly appreciated.  Reply to 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 Warren P. Williamson Jr. Fund of The Youngstown Foundation recently contributed $4,500 to the Youngstown Business Incubator (YBI).  A portion of the funds will be used to establish The Learning Lab @ Semple, a training and networking suite at Semple Building which is located near YBI’s main incubating facility on W. Federal Street in Youngstown.  The Learning Lab @ Semple will offer technology courses, business development seminars and host networking events to support the Mahoning Valley’s entrepreneurial community.

“YBI provides invaluable assistance to its technology-based clients which includes entrepreneurial counseling and access to business development resources in a professional atmosphere,” states Julie Michael Smith, chief development officer of YBI.  “YBI is committed to creating a venue where it can assist even more entrepreneurs with valuable educational and networking opportunities that are critical to their success.”

“The Youngstown Business Incubator has become one of the Valley’s most valuable assets for economic development,” states Janice E. Strasfeld, executive director of The Youngstown Foundation which administers the Williamson Fund. “The Learning Lab @ Semple will create another tool to help Mahoning Valley entrepreneurs accelerate.”

$17 Million in Investments Now Available

Ohio Third Frontier, a program designed to expand our state’s robust technology sector, has generated a 9:1 return on its investments, leveraging resources and creating opportunities for Ohioans through innovation across our state. Today, the Ohio Department of Development announced the release of two competitive requests for proposals (RFP) for the program’s 2010 fiscal year.

“Through Ohio Third Frontier, we have invested more than $374 million in the biomedical cluster, a high impact industry across our state,” said Lisa Patt-McDaniel, Director of the Ohio Department of Development. “Ohio Third Frontier’s strategic focus and investments will continue to strengthen and create new companies, commercialize new technologies, and create good jobs for Ohioans in both in the biomedical imaging and other sectors.”

Medical Imaging and Biomedical areas such as cardiovascular, regenerative medicine, and orthopedics, have demonstrated a compelling capacity for growth in Ohio. Recognizing that potential, Ohio Third Frontier has tailored its programming to become an investment partner in these industries, catalyzing the significant potential these sectors represent for Ohioans.

Designed in 2002 to build world-class research programs, nurture early-stage companies, and foster technology development that makes existing industries more productive, Ohio Third Frontier creates opportunity through innovation. The National Governor’s Association and Pew Center for the States described Ohio Third Frontier as “a comprehensive, professionally run effort to build world-class research capacity, promote interaction between research and industry, and commercialize research and development.”

Representatives from Ohio Third Frontier will conduct a bidder’s conference on January 5, 2010 at TechColumbus. Letters of intent are due to the Ohio Department of Development by January 25, 2010.  Formal proposals will be accepted until March 1, 2010 at 2 p.m., with program awards to be made in May 2010.

In keeping with Ohio Third Frontier’s commitment to transparency, proposals will be evaluated independently and externally, then reviewed by the Ohio Third Frontier Commission before final approval by the State Controlling Board.

Complete RFP materials are available at: www.thirdfrontier.com.  All information and guidance required to submit a successful proposal can be obtained directly from the Ohio Department of Development.

YBI portfolio company SenSource (www.sensourceinc.com) seemingly never feared the question that most early stage companies dread to hear…”So, who are your customers?”

Abercrombie & Fitch, Gander Mountain, and Advance Auto Parts are just a few of the nationally known companies that have enthusiastically embraced the firm’s “people counting” sensor technology that allows users to evaluate in real time sales conversation ratios, staffing needs, employee performance, marketing campaign effectiveness and even floor plans.

But recently, SenSource reeled in a customer that takes them to a whole higher level.

The Walt Disney Company has now installed SenSource technology at both its Disney Land and Disney World properties, proving that innovative products with demonstrable ROI can sell no matter how bad the economy.

Kudos to the whole SenSource team! That’s one heck of a reference client you’ve got there.

Jim Cossler
CEO and Chief Evangelist
Youngstown Business Incubator
330.884.6262
www.ybi.org

Akron Global Business Accelerator tenant rexorce Thermionics, while still a tenant of the accelerator, has also established it’s own headquarters in Akron and has big plans for the coming year, as reported recently by Crain’s Cleveland Business:

• The 18-person company expects to grow out of its 18,000-square-foot headquarters by January 2011
• The company in January is scheduled to install a 250-kilowatt pilot version of its Thermafficient heat engine at a power generating plant owned by a large utility
• In about a year, rexorce aims to install a 6-megawatt version of its heat engine at an industrial site

The Youngstown Business Incubator (YBI) is excited to announce the launch of its redesigned website at www.ybi.org.   The new site is more user friendly website and visitors can easily access information about YBI’s services, accomplishments and upcoming events.  Technology-based entrepreneurs and emerging companies can contact YBI on-line to submit questions, concepts and business proposals.  The site also has information on YBI’s portfolio companies as well as links to its resource partners.   To view the new site, please visit www.ybi.org

Chief Development Officer Julie Michael Smith states, “With the positive focus on Youngstown as one of the ten best cities to start a business by Entrepreneur magazine and favorable comments in a recent edition of Economist, YBI wanted to refresh its website with improved access for users and fresh content to help manage the number of new contacts we have been receiving.”

The Youngstown Business Incubator has had its fair share of national coverage over the past few months. Well,  that coverage now extends internationally with the story of our organization gracing the pages of this week’s edition of the highly regarded, global news magazine The Economist.

Did I mention we are in The Economist ?!!!!

Holy cow, just when I said it could not get much better…it did.

Seriously global big time better.

Jim Cossler
CEO and Chief Evangelist
Youngstown Business Incubator
330.884.6262
www.ybi.org