Business Growth and Attraction

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Partners in Advance Northeast Ohio are working on four strategies to attract, grow and retain companies:

  • Assist High-Growth Entrepreneurs
  • Strengthen Existing Industries
  • Attract Growing Companies
  • Support Innovation, Technology Commercialization to Build Growth Industries

Partners working on these strategies include:

Assist High-Growth Entrepreneurs

JumpStart Inc. is the largest regional effort focused on improving the region’s overall climate for entrepreneurs. Formed in 2004, it provides business consulting, networking and assistance services to entrepreneurs throughout Northeast Ohio. Its ideacrossing.org web site serves as an online matchmaking service for businesses. In addition, JumpStart is an early-stage venture capital firm investing in start-up companies with the potential for rapid growth. You can view JumpStart’s portfolio of companies here. Companies that have worked with JumpStart have raised more than $100 million in venture capital

BioEnterprise works with early stage companies in the health care market to accelerate their growth and attract venture capital. Unlike JumpStart, BioEnterprise does not directly invest in companies. Rather, it helps companies attract venture capital. The region's bioscience companies are now raising more than $100 million in venture capital a year. Before BioEnterprise was formed companies were only raising about $30 million a year.

NEOinc is a collaboration of the region’s five business incubators that assist the growth of technology-based enterprises. The incubators are Braintree in Mansfield; Youngstown Business Incubator; MAGNET in Cleveland; GLIDE in Elyria; and the Akron Global Business Accelerator. The incubators each serve their surrounding communities and the region. Two of the incubators target specific markets: YBI works with business-to-business software companies and MAGNET’s incubator works with manufacturing companies.

Strengthen Existing Industries

MAGNET, the Manufacturing Advocacy and Growth Network, supports and advocates the region's manufacturing companies. In fiscal 2006 MAGNET helped manufacturers attract or retain nearly 700 jobs and generated more than $150 million in economic impact. Learn more about MAGNET's results here.

MAGNET also partners with the region's chambers of commerce to support manufacturers and the chambers work with local and state officials to help existing companies grow. To learn more about the chambers of commerce that are partners in Advance Northeast Ohio visit our Partners Page.

Innovation & Commercialization

NorTech works with the region’s research centers to help them both attract research funding and to convert that research into new industries, companies and products. NorTech’s Technology Leaders Group brings together representatives from Northeast Wright Projects and Wright Centers of Innovation that are funded through the state’s Third Frontier program to develop commercialization and business development opportunities. For example, NorTech helped Kent State University launch its Centennial Research Park where companies are working to develop the next generation of flexible liquid crystal displays.  

Company Attraction

Team NEO works with the region’s chambers of commerce and local governments to attract and grow businesses in Northeast Ohio. Team NEO markets the region to growing companies and to the site selectors that help companies decide where to grow. Team NEO collaborated on the development of the Cleveland Plus marketing campaign, which promotes the region to visitors and businesses.