“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!”

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.

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.

At the Team NEO Economic Development Impact Awards last week, ten awards were handed out recognizing various organizations and initiatives for their positive economic impact our our region.  Here’s a recap of the winners in the various categories:

• Asset Creation: Akron’s BioInnovation Institute
• Business Attraction: Youngstown-Warren Regional Chamber
• Business Expansion: Ashland Area Council for Economic Development, Ashland County, Jackson Twsp.Ashland Area Council for Economic Development, Ashland County, Jackson Twsp.
• Business Retention: City of Akron, Greater Akron Chamber, County of Summit, Summit County Port Authority
• Foreign Investment: Growth Partnership for Ashtabula County
• Fostering Entrepreneurship: Lorain County Community College Foundation
• Marketing Cleveland Plus: Cohen & Co.
• Minority Business Development: City of Lakewood & LakewoodAlive
• Public-Private Partnership: Maple Street Commerce LLC. City of North Canton, and Stark Development Board
• Workforce Development: Advanced Manufacturing & Engineering Center of Cuyahoga Community College

After about the forth or fifth award, I lost count of all the jobs created, millions of dollars invested, and businesses attracted.  Rest assured it was an impressive total.

Three things really stuck out during the awards.  First - the overall coverage of the region by the winners.  From Youngstown to Lorain; from Ashtabula to Canton, great things are happening all over the place.  Second - many of the winners were collaborations themselves, providing examples to others on how to partner and accomplish great things.  Finally - the list above is simply the recognized winner in each category.  For all ten categories, there were another 2-3 finalists in the running (and easily another fifty or so overall submissions).

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.

Congratulations to all the winners, finalists and everyone submitting an entry.  In the spirit of Team NEO’s awards, congratulations to our region for recognizing the great work we’ve all done over the past year.  Now, let’s look at what happened last month.

Reflective of the Team NEO awards, this month’s recap is all over the region and state, and definitely highlights job creation, collaboration and economic development of all types.  Here then 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.

May ‘09 Recap

• CWRU’s med school receives $3M grant
• Ohio’s leadership in logistics
• 125 new jobs
• Huntington Bank, State of Ohio team up for $1B business loan program
• Ohio’s wind turbine (our very own) makes it’s debut
• Beck Center reaches fundraising goal (but you can still help!)
• OEConnections inks deal with Navistar
• Orrville company wins military contract
• Two Northeast Ohio firms team up for $33M Nasa contract
• State gives $8M to Summit, Stark
• Medina collaboration building fiber network
• High Tech jobs increasing in Northeast Ohio
• KeyBank breaking ground in Akron
• Entrepreneur’s EDGE highlights companies pumping $1.6B into the economy
• $9.1M grant to Cleveland Clinic’s Lerner Research Institute
• Jo-Ann Stores first quarter profits nearly triple
• New orders for manufactured goods up by largest amount in 16 months
• Regional Talent Network unveils employment website (another take)

This list certainly isn’t meant to be exhaustive, merely a representative sample of some of the more positive articles we saw throughout the month.  We want to hear from you too! Please use the comment box below to share your thoughts with us here at NEOinc and our other readers.  Come on, you know you want to.

We’re also looking for other blogs to follow that report on positive entrepreneurship and economic development activities throughout Northeast Ohio.  You can review the list below of the blogs we currently follow.  Please post any additional recommendations via the comment box at the end of this post.

NEOinc’s blog reports regularly on entrepreneurial activities within the region, news and successes within the five incubators making up our collaborative, and resources available throughout Northeast Ohio.  If you found this post useful, please consider subscribing to our blog.  Our “Connect With Us” page will give you all the information you need to subscribe via your RSS reader or receive E-Mail updates.

Sources

NEOinc watches the following regional blogs.  Please use our “Contact Us” page, or the comment box below, to recommend a blog not on the list.

• Advance Northeast Ohio - the online home of our region’s economic action plan, which was inspired by Voices & Choices. Learn about the actions our region is taking to grow our economy and engage in conversations that shape the plan and evaluate our performance.
• Brewed Fresh Daily- topical, wide-ranging, and sometimes irreverant, George Nemeth’s blog is a clearinghouse for the pulse of Northeast Ohio.
• Cleveland Plain Dealer’s business blog
• Crain’s Cleveland
• NorTech - NorTech leads the region’s technology based economic development agenda. By supporting and nurturing Northeast Ohio’s most promising technology projects and initiatives, they help to create new technology industries and make the region ’s economy more globally-competitive.
• Ohio Means Business - The OBDC blog is a chance for Ohio executives to share their perspective on how locating in Ohio has enabled them to achieve both their professional and personal aspirations without having to sacrifice one for the other.

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):

1. Use it as a home base
2. Get market research
3. 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.

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

• 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.

1. Accept that your revenue side will probably not be correct, but the cost side needs to be appropriate
2. Don’t assume a big revenue ramp to be supportable
3. Define the “next stage” of your business, what it will cost to get there and what it will look like
4. Be up front with investors that this is your first time and you are looking for feedback
5. Don’t be afraid to ask for help

Good Luck!

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.

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