More Resources for Emerging Entrepreneurs
Posted by Chris Thompson - 11.24.2010
Northeast Ohio has a growing portfolio of promising companies that will eventually reshape the business landscape in our region. To succeed these companies need access to capital at all stages of the business process. Lately we've seen the region's ability to provide access to that capital expand in some interesting ways.
As we saw in the recent news from FMI Technologies of Akron, that capital can come from across the globe. FMI, one of several promising companies that calls the Akron Gobal Business Accelerator home, announced that Chinese investors plan to invest $18 million in the medical imaging company. FMI has been helped by a network of resources serving the region's young companies, including BioEnterprise, and a globally-minded mayor.
Of course not every company is ready for a multi-million dollar investment. The Wayne Economic Development Council recently unveiled a new loan program that will provide promising young companies with a loan of up to $35,000 to get up and running in Wooster. The Wooster Opportunities Fund will be run with the assistance of JumpStart, the regional organization responsible for strengthening the region's entrepreneurial ecosystem. JumpStart is helping strengthen connections among all of the region's entrepreneurial assets, inlcuding the Global Business Accelerator in Akron.
Another part of that network is TIE Ohio, which is part of a global network of entrepreneurs who connect and mentor globally to create the next generation of successful entrepreneurs. TIE Ohio is sponsoring a new business plan competition with a $25,000 prize package. Winners will be entered into a global competition where they will compete for more than $150,000 in prizes and the opportunity to win $1 million in investments.
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