NorTech

I received the following update from Jim Cossler last week. HOwever, I was at the Nano App Summit, and didn’t have an opportunity to post this great news from Youngstown….

From Jim Cossler, Chief Evangelist, at the Youngstown Business Incubator:

Wow! What a phenomenal week we just finished.

On Monday, we met with President Thomas Chema and other key officials at Hiram College to discuss expanding our joint entrepreneurial efforts.

On Tuesday, the structural steel skeleton of our new $6million center for YBI graduate companies was completed.

On Wednesday, YBI received a very positive “shout out” in the national edition of the Wall Street Journal.

On Thursday, the first leg of our ultra-high speed wireless Internet for external partners was successfully lit up.

And on Friday, thanks to the invitation from Congressman Tim Ryan, we were extremely honored to have House Speaker Nancy Pelosi come to YBI for a tour of our facilities and for discussions with the CEOs of three of our portfolio firms. And would it be immodest of us to say that Speaker Pelosi called the Youngstown Business Incubator “the model for the nation” at her press conference afterward?

Nice.

Ohio now takes the lead in gaining the most investment dollars for health care companies in the Midwest,according to a new report published by BioEnterprise, an acceleration initiative designed to grow health care companies and commercialize bioscience technologies in Northeast Ohio.

Here’s an excerpt from the the Plain Dealer:

Thirty-five Ohio companies attracted $261.2 million in the first three quarters of the year, according to the latest installment of the BioEnterprise Midwest Health Care Venture Investment Report.

The Cleveland region - essentially Northeast Ohio, for purposes of the report - ran a close second to Minneapolis in gaining health care investments through the third quarter.

Investment in Cleveland trailed Minneapolis by $700,000, as of Sept. 30.

As usual, the Cleveland area accounted for the lion’s share of health care investments in Ohio - 81 percent in the first three quarters.

“I think we are clearly recognized, in venture capital, as a peer region with Minneapolis and as a state with Minnesota,” said Baiju Shah, president of BioEnterprise, the health-care-company developer in Northeast Ohio.

NorTech efforts secure State Science and Technology Institute conference

Cleveland, Ohio (October 18, 2007) – NorTech, Northeast Ohio’s leading technology-based economic development organization, is proud to announce that the State Science and Technology Institute (SSTI), the national organization for technology-based economic development, has selected Ohio as the location for its 12th annual conference. The event, which has grown to become the nation’s premiere event for sharing ideas on the best ways to encourage technology-based economic development and foster regional prosperity in a global economy, will be held at the InterContinental Hotel in Cleveland, Ohio, on October 15-16, 2008.

Cleveland was selected after a national competitive bid process. Key to winning the bid was the efforts of NorTech, (in partnership with the State of Ohio’s Department of Development, regional businesses, foundations, research institutions, and the not-for-profit community) in demonstrating regional commitments to technology research, development, innovation, commercialization, and entrepreneurship to spur economic growth in Northeast Ohio.

In recent years, Northeast Ohio has experienced a transition from a traditional economy to a technology-based economy. The state’s Third Frontier Project along with out-of-state venture capital investments has had a significant impact on research, development and commercialization efforts. In addition, programs to support entrepreneurship, retain/attract technology businesses, and the creation of a regional technology strategy, has been instrumental in advancing Northeast Ohio’s technology-based economic development efforts.

“We are thrilled that SSTI has selected Cleveland to host its next annual conference,” said Dorothy C. Baunach, president and chief executive officer of NorTech. “We look forward to sharing with attendees the practices that have made Northeast Ohio a model for sustainable technology-based economic development, as well as our public-private partnerships, which have contributed to the region’s successful transformation from an industrial center to an entrepreneurial, innovation-based economy.”

“Northeast Ohio provides an excellent backdrop for SSTI’s 12th annual conference,” said Dan Berglund, president and chief executive officer of SSTI. “The state, and especially the northeast region, has made science and technology a central focus for its economic development investments, so Cleveland is a perfect choice to showcase successful technology-based economic development practices and strategies before a national and international audience.”

The annual SSTI conference draws more than 350 business leaders and entrepreneurs from across the country to learn from the nation’s leading thinkers and practitioners in technology-based economic development. Previous conference topics have addressed areas such as: university research commercialization; manufacturing excellence; angel and venture capital; university research parks and technology incubators; globalization’s impact on local economies; math and science education; and public-private collaboration for science, technology and engineering.

Program topics at the 12th annual conference will draw on the experiences and needs of SSTI’s 38 state sponsors, and more than 100 affiliates and supporters from across the country. The agenda for the event will be set in early summer 2008. In 2007, attendees are representing 47 states, as well as the District of Columbia, several Canadian provinces and foreign countries. Previous SSTI annual conference locations have included: Baltimore, Oklahoma City, Atlanta, Philadelphia, Seattle and Chicago.

Representatives from SSTI made a site visit to Cleveland during the summer of 2007, touring potential facilities and meeting with regional economic development, science and technology leaders, and other technology organizations to discuss potential topics, speakers and logistics. Positively Cleveland, the Cleveland Convention and Visitors Bureau, helped organize the SSTI site visit.

A host committee made up of state representatives, universities, technology organizations, regional economic development offices, and philanthropic organizations will be formed to help facilitate planning for the 2008 conference.

About the State Science and Technology Institute (SSTI)
Based in Westerville, Ohio, SSTI is a national nonprofit organization dedicated to improving government-industry programs that encourage economic growth through the application of science and technology. More information about SSTI’s 12th annual conference will be forthcoming on SSTI’s website www.ssti.org.  

About the Northeast Ohio Technology Coalition (NorTech)
NorTech, Northeast Ohio’s technology-based economic development organization, works closely with regional technology leaders to build a globally-competitive, innovation driven, technology economy by: Leading technology-based projects that have an impact on the region’s innovation infrastructure; Linking together regional technology leaders and innovation assets to spur collaboration, entrepreneurship, and commercialization; and Leveraging public and private investments to revitalize Northeast Ohio’s economy. Our shared vision for the region is to become one of the top ten places in the world to live, learn, work and invest by the year 2020. www.nortech.org

NorTech’s Nano-Network and NanoBusiness Alliance have assembled top nanotechnology experts and experienced executives at the forefront of nanotechnology development and commercialization to address attendees at the 2007 Nano App Summit. The event will be held next week October 22-25 at the Ritz Carlton Hotel in Downtown Cleveland. Those insterested in attencing may register online at http://www.nanoappsummit.com/.  Onsite registration is also available. Speakers will explore a broad range of issues relating to nanotechnology and its many applications in automotive, clean tech, and defense sectors.

At the Summit, major manufacturers, leading nanotechnology product developers, and industry experts will share product enhancements, insight on current market demands, commercialization and investment opportunities, and much more. Attendees will leave the Nano App Summit with a better understanding of nanotechnology commercialization opportunities that exist within the automotive, clean tech and defense sectors and the business contacts to move their company to the next level. It’s all about nanotechnology applications today - not years into the future.

This year the summit is featuring outstanding nanotechnology and environmental health and safety tutorials, interesting sessions and specific presentations on a variety of nano topics, an Investors Fair for small emerging companies and potential investors, and great networking opportunities including a reception at the Rock and Roll Hall of Fame. An important goal of this conference is to bring these people together to develop a better understanding of the potential of nanotechnology and spur innovative ideas to help your businesses and organizations grow.

We look forward to your participation at next week at the 2007 Nano App Summit!

For more infomration please contact: Andrea McDonald at NorTech, 216-363-6881 or amcdonald@nortech.org

Yesterday, the NEO Capital Initiative, a group of Northeast Ohio foundations and economic development organizations announced they were joining forces to generate more investments in local entrepreneurial companies.

From the Plain Dealer:

In January 2007, NorTech’s  Early Stage Capital Task Force on venture capital reported that Northeast Ohio will need $375 million in seed and early-stage investments over the next five years to fund a pipeline of companies emerging from regional incubators and organizations like JumpStart and BioEnterprise.

The NEO Capital Initiative is the latest regional effort to help narrow that investment gap.

The new local initiative is looking for additional support from foundations and other institutional investors with large endowments. This effort is spearheaded by the Cleveland Foundation, the GAR Foundation, Fund for Our Economic Future, NorTech, BioEnterprise, JumpStart and Buckeye Venture Partners.
To download a copy of the Greater Cleveland Venture Capital Report “2006 Annual Survey of Venture Investing Activity Across Northeast Ohio” click here.

Last week the Greater Cleveland Partnership released its “World of Opportunity 2007-2008″ video that highlights more than $4 billion in physical development-real estate, commercial and infrastructure improvements-happening right now in Cleveland’s downtown, its neighborhoods and in University Circle.

To preview a copy of the video please visit GCP’s homepage at www.gcpartnership.com or click here.

From a technology perspective, you’ll note the development of the Global Cardiovascular Innovation Center at the Cleveland Clinic and the new Emergency Medicine and Cancer Center at University Hospitals near University Circle that will be connected via the Euclid Corridor project to Cleveland’s new Medical Mart and Downtown Convention Center.

It’s an exciting time to be living in Cleveland and we believe these physical development projects and improvements will have an economic impact on the entire Northeast Ohio region.

As reported yesterday in Crain’s Cleveland Business, the Burton D. Morgan Foundation dedicated to strengthening the free enterprise system by investing in organizations and institutions that foster the entrepreneurial spirit, has announced its final round of grants for 2007.

NorTech, was among several grant awardees, receiving $150,000 to employ an advanced energy entrepreneur-in-residence (EIR) for their regional TechLift program. TechLift is dedicated to serving the needs of Northeast Ohio’s technology entrepreneurial companies by providing unique services, entrepreneurial mentorship and access to resources. Additional services provided by TechLift include: Capital Formation and Fundraising, Strategic Planning and Business Planning Coaching, Connections to Partner and Customers, Grant Funding Assistance, Talent and Staffing Assistance, EDGE Minority Entrepreneurship Program, and Entrepreneurial Experts in NEOinc Regional Incubators. Again, all services are provided to technology entrepreneurs free of charge.

Northeast Ohio entrepreneurs interested in starting a technology-based business are encouraged to attend the TechLift launch events scheduled throughout October. Please click here for more details.  

TechLift is within NorTech’s mission of continuing efforts to create and support the development of high growth, high-tech companies in Northeast Ohio.

On Friday, October 26, the Mahoning Valley will host the Nanotechnology Manufacturer’s Forum. This event, which is part of the Nano Network’s Nano Week 2007, is designed to provide traditional manufacturers with information about how their products and processes may be influenced and improved by nanotechnology.

Location:
DeYor Performing Arts Center
260 Federal Plaza West
Youngstown, Ohio

Time:
8:00am-8:15am Registration
8:15am-1:00pm Program

Program Cost:
General Attendee;
$50 (until October 5)
$65 (after October 5)

College Students;
$25 with valid student ID
*Onsite registration available

For more information and to register; www.nano-network.org/nmf2007
  
2007 speakers include:

TechLift, a NorTech led initiative of the Third Frontier Project Entrepreneurial Signature Program will make its debut in Greater Cleveland on Thursday, October 4 at the MAGNET Innovation Center from 5:30 - 7:00 p.m.

The newly announced TechLift program is dedicated to serving the needs of Northeast Ohio’s technology entrepreneurial companies by providing unique services, entrepreneurial mentorship and access to resources.

TechLift is focused on supporting, coaching and nurturing Northeast Ohio entrepreneurs in the region’s five technology strengths: advanced materials, electronics, information technology, biosciences and advanced energy. A number of direct services are delivered through Signature Entrepreneurs-in-Residence, who are entrepreneurs and industry experts in those signature technology areas.

Additional services provided by TechLift include: Capital Formation and Fundraising, Strategic Planning and Business Planning Coaching, Connections to Partner and Customers, Grant Funding Assistance, Talent and Staffing Assistance, EDGE Minority Entrepreneurship Program, and Entrepreneurial Experts in NEOinc. Regional Incubators. All services are provided to technology entrepreneurs free of charge.
Event Details 

Agenda:
5:00 - 5:30pm        Registration, Networking, Complimentary Appetizers, & Cash Bar
5:30 - 5:55pm        Welcome, Wayne Zeman, MAGNET
                               TechLift Introduction, Chris Mather, TechLift
                                    Entrepreneurs-in-Residence:
                                            Kent Kristensen - Electronics
                                            Donna Richardson - BioSciences
                                            Ron Zieske - Advanced Materials
                                    Darrin Redus, JumpStart                 
5:55 - 6:05pm        IdeaCrossing, Tiffan Clark, JumpStart
6:05 - 6:15pm        Regional Partners
                                    MAGNET, Wayne Zeman
6:15 - 7:30pm        Networking

Venue:
MAGNET Innovation Center
1768 East 25th Street
Cleveland, Ohio 44114
(216) 391.7002
Driving Directions

Parking:
Complimentary parking is available in Lot Y2 on the corner of 24th and Payne.

Cost:
There is no cost to attend this event, but registration is required.

Registration:
Contact Kate Hanna at mailto:Kathryn.Hanna@jumpstartinc.org?subject=Cleveland TechLift Waiting List or 216.363.3435.

If you are a technology entrepreneur interested in TechLift’s services and cannot attend a regional event, please visit www.techlift.org apply and connect with a Signature EIR today!