NorTech

On October 27, Kent Displays celebrated the unveiling of its new roll-to-roll production line during a ribbon cutting ceremony at their headquarters in Kent, Ohio. The roll-to-roll process which enables the manufacture of flexible displays represents a significant change in the way liquid crystals will be used in everyday products. This production line, the first of its kind in the world, will increase the supply of flexible, low-power displays for unique product applications such as credit cards, curved surfaces, product tags and other ePaper applications.

At the ceremony, Dr. Albert Green, chief executive officer of Kent Displays commented, “This is a giant leap forward in the process of producing flexible liquid crystal displays.”

Dr. Green added, “An integral part of our success is the direct result of collaboration between our company and those that have supported our efforts along the way–partners like the Third Frontier Project, Kent State University, NorTech, and the FLEXMatters initiative have contributed to the research and development of this production line.”

John West, Ph.D., former NorTech Fellow and current vice president for research at Kent State University said, “The completion of this line is a milestone for Kent Displays and Kent State University that has the potential to put us as the forefront of display manufacturing in Northeast Ohio.”

Dr. John West worked in partnership with NorTech to launch FLEXMatters, an initiative created to build an industrial cluster to commercialize and manufacture flexible displays and electronic devices in Northeast Ohio.

Kent Displays is part of the FLEXMatters initiative and their roll-to-roll production line helps move the FLEXMatters initiative one step closer to its overall goal.

 Kent State University media advisory about ribbon cutting ceremony.

Looking to avoid the mistakes that most founders and leaders of high-growth business make? If so, you’ve come to the right place. This seminar will take an in-depth look into the intricacies of founder mistakes and how to steer away from them.

Noam Wasserman, professor of Entrepreneurial Management at Harvard Business School, expert researcher of the trade-offs and blunders of founders and businesses, and creator of the nationally recognized blog, “Founder Frustrations,” will deliver this case study-oriented seminar.

Professor Wasserman will lead a case-style discussion of three situations, starting with a founding team that makes a variety of difficult decisions about how to split the so-called founder’s pie, and ending with a CEO who makes some interesting choices about his/her business. Stories will be backed by enlightened research and information.

Always a researcher and eminently entertaining, Professor Wasserman has delivered seminars, case studies, and lectures internationally on this topic and is excited to learn about trade-offs that Northeast Ohio’s entrepreneurs are making. He will be flying in from Boston to specially deliver this seminar…don’t miss out!

Due to limited space, we request that only one representative from each company attend. Space is limited, so reserve your seat today!

Register for Founder Frustrations, CEO Mistakes

NorTrech hosted over 350 Technology Based Economic Development (TBED) professionals from across the country on October 14-16 for the 12th Annual SSTI Conference in Cleveland. The goal of the conference was to discuss successful approaches to building tech-based economies, gain information about new and existing federal programs, and reach a better understanding of trends in tech-based economic development.

On the evening of October 14, NorTech hosted the SSTI opening reception at the Rock and Roll Hall of Fame to welcome conference attendees. Cuyahoga County Commissioner Peter Lawson Jones delivered the keynote address at the reception and highlighted Ohio’s investments in Technology-Based Economic Development over the last 25 years.  Commissioner Jones credited Ohio’s large investments in the Thomas Edison Program and Third Frontier Project as key drivers of the  state’s TBED strategy to help fuel Ohio’s future economy. Commissioner Jones also highlighted some the local initiatives such as Cuyahoga County Innovation Zone and North Coast Opportunities Fund that are encouraging the growth and retention of high tech companies and jobs in the region.

During the conference, a session was dedicated to the Northeast Ohio TBED Strategy and the importance of public and private partnerships as a key enabling factor in the revitalization of the region’s economy during early 1980s. Since then, those relationships and investments in technology, innovation, entrepreneurship, have evolved and grown as we strive to make our regional economy globally-competitive. Panelists included David Abbott, Chairman, The Fund for Our Economic Future and Executive Director, The George Gund Foundation; Dorothy Baunach, President and CEO, NorTech; Baiju Shah, President, BioEnterprise. The panel was moderated by Joseph Roman, President and CEO, Greater Cleveland Partnership. The panelists discussed how the Northeast Ohio TBED strategy has evolved and continues to be part of a sustainable model, yielding real results in the areas of technology, innovation and entrepreneurship.  In fact, NorTech President and CEO Dorothy Baunach and Chairman Les Vinney wrote an Op-Ed piece that was published in the online version of the Plain Dealer coincide with the SSTI conference on October 15.   Click here to read of the Op-Ed entitled, “Good economic news in Northeast Ohio.”

Overall the conference was a complete success, and we received positive feedback from SSTI and conference attendees  about the conference and their experience in Cleveland and Northeast Ohio during their stay.

On behalf of NorTech and SSTI, we would like to extend a sincere thank you to the Ohio sponsors that generously supported this year’s SSTI conference. Those organizations include: Cleveland Foundation; GAR Foundation; The George Gund Foundation; Ohio Department of Development; BioOhio; Center for Innovative Food Technologies; CincyTech; Dayton Development Coalition; Edison Welding Institute;  EMTEC; FirstEnergy Foundation; Kent State University; Manufacturing Advocacy & Growth Network; Ohio Business Roundtable; Ohio IT Alliance; Ohio Technology Partnership; PolymerOhio; Voinovich School at Ohio University; Rocket Ventures; TechColumbus; TechSolve; University of Akron; BioEnterprise; Case Western Reserve University; Cleveland State University; Cuyahoga County Department of Development; JumpStart; Lorain County Community College Foundation; Northeast Ohio Software Association; Ohio Aerospace Institute; OneCommunity; and University of Toledo–Science & Technology Corridor; The Fund for Our Economic Future; Greater Cleveland Partnership; and NorTech.     

NORTHEAST OHIO’S ECONOMIC COMPETITIVENESS TO BE STRENGTHENED THROUGH GRANTS TO NORTECH, REGIONAL GOVERNMENT INITIATIVE

Fund for Our Economic Future awards a total of $2.1 million

CLEVELAND (Oct. 8, 2008) – The Fund for Our Economic Future today approved grants totaling as much as $2.1 million to two initiatives that are part of a coordinated plan to strengthen Northeast Ohio’s economic competitiveness.

NorTech, the region’s technology-based economic development organization, will receive as much as $1.5 million for its operations through the end of 2009. Also, the Fund committed as much as $600,000 to support a regional effort led by the Northeast Ohio Mayors & City Managers Association to develop regional development planning and revenue sharing to accelerate economic growth.

The Fund unites philanthropy in Northeast Ohio to strengthen the region’s economic competitiveness through charitable grantmaking, research and civic engagement. It has raised more than $30 million in the second, three-year phase of its work.

“NorTech and the regional planning initiative are important elements of Advance Northeast Ohio, our region’s economic action plan,” said David Abbott, chairman of the Fund and executive director of The George Gund Foundation. “The Fund is pleased to be able to partner with elected officials and business groups in the region to support these initiatives.”

Including the latest grant commitment, NorTech has been awarded $7.4 million in grants since the Fund was formed in 2004. The Greater Cleveland Partnership also is a major supporter of NorTech.

“NorTech has been a strong catalyst for the region’s growing technology sector and this operating grant will support its efforts to boost targeted industries in the months ahead,” said Deborah Hoover, co-chair of the Fund’s Entrepreneurship and Innovation Action Team, which recommended the grant to the Funders Committee. NorTech will identify those technology sectors where it will focus its efforts in the near future. NorTech also leads the region’s efforts to secure state and federal support for technology-based economic development.

The regional planning and revenue sharing effort received two earlier grants from the Fund totaling $140,000. The Northeast Ohio Mayors & City Managers Association voted in May to aggressively pursue the implementation of regional planning and revenue sharing.

“The mayors and city managers have demonstrated tremendous leadership to bring this issue forward,” said Robert Jaquay, chair of the Fund’s Government Collaboration and Efficiency Action Team. “We are pleased to support the next phase of work, which will include designing the specific mechanics of how revenue sharing should be implemented in Northeast Ohio.”

The association estimated it will cost $1.4 million to design the revenue sharing program, develop a regional planning framework, research legal requirements and build support for the effort. It will seek additional financial support from other sources. The Fund will make an initial grant of $200,000 to the effort and award as much as $400,000 more based on the association’s ability to raise additional funds.

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ABOUT THE FUND FOR OUR ECONOMIC FUTURE
The Fund for Our Economic Future (www.futurefundneo.org) is a collaboration of more than 100 foundations, organizations and philanthropists from across Northeast Ohio that strengthens the region’s economic competitiveness through grantmaking, public engagement and research.