Area TechLift program begins; money available
Telegraph-Forum staff
North central Ohio technology entrepreneurs now have $22 million in additional resources available to them.
As part of Ohio's Third Frontier Program, northeast Ohio has been given this money to stimulate the technology economy. This effort is called "TechLift" and is being led by Cleveland-based NorTech, the region's technology advocate that has scheduled a local meeting to explain the process for area businesses to tap into the funds.
The TechLift launch for this area will be from 5 to 7 p.m. Thursday at the Longview Center, 1495 W. Longview Ave., Mansfield, with the North Central Ohio Computer Cooperative as the local host. The networking event will follow the "Tech Thursday" format and include a brief presentation about the new program that provides free highly specialized business coaching and resources to early-stage companies.
TechLift has held four previous launch events in Warren, Cleveland, Lorain and Akron. The event at the Longview Center is aimed at getting the word out to entrepreneurs in Richland, Ashland, Crawford, Wayne, and Holmes counties.
TechLift is hiring experts to help companies with everything from fundraising and grant writing to strategic planning and talent searching. The $15 million grant awarded by the state has been matched by $7.5 million in local commitments. About $6 million has been set aside for "pre-seed funding" for technologies that have just emerged from the lab and in need of money to form a company.
The nonprofit investing groups JumpStart and GLIDE Innovation Fund and the private investing firms of Glengary and North Coast Angel Fund each get a part of that pie to decide how to invest.
An "entrepreneurial expert" has been hired to supplement the staff for each of northeast Ohio's five business incubators, including the Braintree Center for Business Innovation.
"Previously the incubators had one director, but that person was so busy with day-to-day operations they had little time to work with individual tenants, most of which are early-stage companies in need of guidance," TechLift director Chris Mather said.
In Mansfield Bob Cohen, Braintree's former executive director, was named this year to the entrepreneurial expert position that is responsible for a nine-county region in northeast Ohio. Then in April, Bob Leach was hired to assume the director's role.
"There's something to be said for having someone like Cohen with broad knowledge on site for general issues that need attention," Mather said.
Although the event is free, participants are asked to RSVP because food and beverages will be made available. In addition to entrepreneurs, TechLift is encouraging the participation of business resource people such as accountants, bankers, and attorneys who will find it useful to know about this program on behalf of their clients.
Also on hand will be other entrepreneurial resources such as the Small Business Development Center at Ashland University, SCORE and the Northern Ohio IT Alliance. Economic development directors from all area counties will be there to assist in the promotion of these resources.
Online registration and more information are available at the Braintree Web site, www.braintreepartners.org, or by calling Leach at Braintree at 419-525-1614.