Well, welcome to the halfway point of 2008.  That went quick, didn’t it?  What started out as a slow month, ended on a high note with lots of positive announcements throughout the region.  We’ve summarized a nice selection after the break.

June also saw one of the blogs we follow “going dark”, as they say.  Chris Varley’s Tech Futures blog, which grew out of a NorTech study around technology-based economic development, signed off this month with the following note:

The TechFutures site will remain up for some time to come, but this will be the last blog post in this forum.  As NorTech adapts to the changes around it, new priorities are emerging and new initiatives are being launched.  We invite you to revisit the stories and history of this project here on this site, but even more than that we encourage you to get and stay involved in the new projects NorTech and other economic development groups in the region pursue in the months and years to come.

Continued

The MAGNET incubator has a new tenant today.  Halcyon Products is moving in over the next couple of days.

Halycon Products supplies innovative products for Fire & EMS, Law Enforcement, Military and Sports Industries to facilitate helping people in emergency situations or to train for emergency situations.  As they say on their website, their products save lives!

Halycon is a past recipient of the Cuyahoga County New Product Loan Fund, administered by MAGNET.  Halycon used the funds to help bring to market their Fireground Compass product:

Halcyon Products, Inc. is now offering the first ever FireGround Compass, a tool designed by firefighters and incident commanders.  Both affordable and easy-to-use, this life saving tool can be used by any firefighter to orient themselves at an emergency scene thereby reducing the possibility of becoming lost, trapped, injured or killed.

Another entrepreneur looks ready to take off with the help of NEOinc resources.

With nighttime lows that have dipped into the 30’s recently, it’s hard to believe we are making the turn into Summer, but here we are in June already.  The temperatures are quickly on the rise (if only the Indian’s bats were heating up as well), and the Summer Solstice is only a couple weeks away.

Lot’s of good economic development news hit in May.  Selfishly, we here at NEOinc are most proud of Mike LeHere’s award by the National Business Incubation Association as the top incubator innovator of 2008.  Mike is the CEO of the Akron Global Business Accelerator (AGBA) and the innovation was the Global Technology Commercialization Initiative in conjunction with the City of Akron.  Three links to separate articles are in the list below, but since we write this blog, we’re linking here too.  Follow this link to read our original article on Mike. 

There is a lot of positive change happening in the region, particularly around entrepreneurial activities and economic development.  NEOinc follows several regional blogs reporting on these topics.  Sometimes the posts shine a spotlight nationally (or internationally) on the region.  Every month we publish a short list of some of the stories we’ve noticed that embody the spirit of achievement, growth and change in our region.

Here is NEOinc’s May recap of the articles we feel speak to the growth and positive change that is happening quietly, every day, in our region.   Continued

19 Action News recently featured MAGNET incubator tenant Torex, in their “Does it Work?” series.

The verdict?  It Works!

Torex makes a family of innovative hot and cold therapy products.  You can view the Does it Work? segment featuring Torex by clicking this link.  Of course, this is no surprise to us as the Torex team have been honing their products over the past few years, and are well on their way to graduating out of the incubator. 

Much of NEOinc’s management is in San Antonio this week at the National Business Incubation Association’s Spring conference.  In our absence, we leave you with April’s recap of positive regional change, and look forward to publishing next week. 

There is a lot of positive change happening in the region, particularly around entrepreneurial activities and economic development.  NEOinc follows several regional blogs reporting on these topics.  Sometimes the posts shine a spotlight nationally (or internationally) on the region.  Every month we publish a short list of some of the stories we’ve noticed that embody the spirit of achievement, growth and change in our region.

Here is NEOinc’s April recap of the articles we feel speak to the growth and positive change that is happening quietly, every day, in our region.   Continued

Do you need funding to help develop a new product?

If so, MAGNET has loan funding that helps entrepreneurs or small businesses bring their ideas to reality.

MAGNET administers the New Product Development and Entrepreneurship Program, Product Innovation Loan Fundon behalf of the Cuyahoga County Department of Development.  In the last three years, the fund has provided over $3 million for new product development in Northeast Ohio and additional funds are now available.

The process is competitive.  Applicants will have their submissions reviewed and approved by a committee consisting of local business leaders, venture capitalist, designers, entrepreneurs and representatives from Cuyahoga County.  Applications for the current funding round are being accepted with a submission deadline of NOON EDT on Friday, April 25, 2008.  Loans of up to $115,000 can be made in phased increments ranging from $15,000 to $60,000 depending upon how much development has already been completed and what remains to be done.

The loans have an interest rate of 3.5%.  There are no interest or principal payments for the first three years after disbursement.  Small companies of less than $50 million in sales as well as entrepreneurs can use this money to fund their product development process for such activities as market research, patent services, industrial design, engineering and prototyping efforts.

Full details of the program along with application forms are available at http://www.magnetwork.org/programs/cuyahoga-loan-fund.htm.

If you have further questions you can contact Barbara Paul by phone at 216-432-5322, or by email at barbara.paul@magnetwork.org

Ah, Spring.  The daffodils are pushing their way out of the dirt, the forecast shows nothing but 50’s and our Tribe opened with a win.  What’s not to like? 

There is a lot of positive change happening in the region, particularly around entrepreneurial activities and economic development.  NEOinc follows several regional blogs reporting on these topics.  Sometimes the posts shine a spotlight nationally (or internationally) on the region.  Every month we publish a short list of some of the stories we’ve noticed that embody the spirit of achievement, growth and change in our region.

Here is NEOinc’s March recap of the articles we feel speak to the growth and positive change that is happening quietly, every day in our region.   Continued

There is a lot of positive change happening in the region, particularly around entrepreneurial activities and economic development.  NEOinc follows several regional blogs reporting on these topics.  Sometimes the posts shine a spotlight nationally (or internationally) on the region.  Every month we publish a short list of some of the stories we’ve noticed that embody the spirit of achievement, growth and change in our region.

Here is NEOinc’s February recap of the articles we feel speak to the growth and positive change that is happening quietly, every day in our region.   Continued

NEOinc is pleased welcome new tenants in a couple of our incubators.

MAGNET (Cleveland)

Bakersfield, California-based Keep It Simple Solutions (KISS) joins San Diego-based Freedom Meditech, Inc. as the second California company utilizing MAGNET to help bring their new products to the marketplace.

Keep It Simple Solutions (KISS) is in development of emergency shelters made of 100 percent polymer composite that can be erected on-site by as few as two people with no building experience and without the use of power tools. The units are durable, provide security and dignity and provide emergency and disaster relief housing after events such as hurricanes or tsunamis.  The units can be built as single rooms or large complexes in virtually any configuration that can also include hallways, breezeways and outbuildings.

Freedom Meditech, Inc. is developing a non-invasive ocular glucose measurement technology for people with diabetes. The device could provide an alternative to the current finger prick method of diabetes blood sugar measurement and monitoring.  The product is planned to operate like binoculars with light being shined on one eye for less than a second and having a digital glucose reading displayed on the device.

Youngstown Business Incubator (YBI)

YBI’s ever growing managed cluster of B2B software application companies in downtown Youngstown grew a bit more with the approval Visual Impact Imaging and Eris Medical Technologies as new tenants.Visual Impact Imaging provides high quality design software and other technical tools to the landscaping industry throughout North America.  Eris Medical Technologies has developed software that is focused on identifying, benchmarking, correcting and tracking outpatient hospital and clinic missing revenue and charge capture opportunities. 

Both firms will be moving into the Youngstown Business Incubator (YBI) in about one month when YBI’s new Taft Technology Center and renovated Semple Building open.  Nine additional software companies are expected to follow within the next twelve months.

So… let’s recap.  That’s two companies from California setting up shop in Cleveland, and a three building campus loaded with world class software companies doing business globally from downtown Youngstown.  Sounds kind of nice, doesn’t it?

The Cleveland Engineering Society’s upcoming “special edition” breakfast should be of interest to any entrepreneur in the Bio sector.  Robert N. Schmidt, Founder and Chairman, Cleveland Medical Devices and Orbital Research, Inc. will speak on the topic “Growing a Medical Device Company, the MedMart, and Where We Are Going With A Medical Device Industry In Northeast Ohio“.  Click HERE to register.

The Cleveland Engineering Society (CES) is a non-profit professional membership organization comprised of more than 500 corporate and individual members representing the diverse engineering and technology spectrum. CES connects northeast Ohio’s engineering community to share experience and expertise, explore new technologies, business strategies, trends and issues, and address regional workforce and economic development.

CES may be a good organization for you to join or network with.  You do not have to be a member to attend CES events.  Click HERE for a full list of their events, and HERE to signup for their mailing list.