Burton D. Morgan Foundation Accepting Applicants for Scalerator NEO
A few spots remain in the 2023 cohort
Burton D. Morgan Foundation is seeking applications from CEOs and owners of small businesses in Northeast Ohio for the 2023 cohort of Scalerator NEO. Scalerator NEO is a cohort-based educational program for entrepreneurs and their teams who want to deliver immediate growth to their businesses and are open to learning new ways to achieve this goal from industry experts. This no-cost, six-month transformational program targets companies with sales between $3 million and $15 million whose owners have a strong ambition to scale their businesses quickly and sustainably.
Companies from all sectors, from manufacturing to technology to consumer goods and more, are encouraged to apply. A diverse cohort has proven to provide the most fertile ground for a successful Scalerator experience. With a focus on the 3 Cs of growth (Customers, Capacity, and Cash), Scalerator touts impressive results, with 75% of participating companies increasing their growth by 25% or more following the completion of the program.
Participants in the 2022 cohort shared the impact Scalerator has had on their business so far:
"AUI’s participation in Scalerator NEO helped us achieve substantial growth this year. Our HR service revenues increased by over 150%, and we expanded into Colorado, Florida, Minnesota, New York, and Missouri. This was driven by — and drove — an increase in capacity of four new team members!" — Chrissy Myers, CEO of AUI
“In 2022 we started exporting to Korea, India and Indonesia and expect exports to grow to 25-30% of our revenues by 2024. We will increase US distribution to two new states, totaling 18 in Q12024. In 2022 we closed a $20M investment to increase operational capacity by a factor of x10! With all this growth we will grow our people capacity by almost 100% by EO 2023.” — Tom Lix, CEO of Cleveland Whiskey
“Since April, even in such a tough labor market as most small businesses are experiencing, Pulsar has successfully recruited and onboarded 10 new hires in Business Development, Product Management, Sales Support, and Global Sourcing. This 50% increase in capacity will directly impact our business — resulting in more infrastructure to support our expanding mass market channel growth of 50% YOY sales. Thanks, Scalerator, the advice we got on building our people platform has been incredibly practical.” — Eric Ludwig, CEO of Pulsar Eco Products
“Our September revenue was up $50k, a 25% increase over August 2022, and a 47% increase YOY. Productivity is up 37% weekly and our staff is growing, with four new hires and two more anticipated by the end of the year. Buckeye Innovation was even recognized in The Inc. 5000 as one of the fastest growing private companies in the country! 2022 has been a banner growth year for us!” — Brad Griffith, CEO of Buckeye Innovation
Since 2017, 72 Northeast Ohio companies have successfully completed Scalerator. Scalerator® was developed by Daniel Isenberg, former Harvard professor, company founder, venture capitalist, and policy advisor to countries around the world. More than 500 companies have completed Scalerator to date, with previous cohorts taking place in Northeast Ohio, Milwaukee, Manizales (Colombia), Atlantic Canada, Trinidad and Tobago, and Rio de Janeiro (Brazil). The globally renowned Scale Up team of Daniel Isenberg, Elaine Eisenman, Kevin Mulcahy, and Tim Marken deliver the Scalerator program based on more than a century of collective experience growing companies and decades of experience teaching at Harvard, Babson, Columbia, and leading business schools.
Scalerator NEO is supported by Burton D. Morgan Foundation and the Fasenmyer Fund, established at Morgan Foundation by the former Richard J. Fasenmyer Foundation, a collaboration committed to supporting entrepreneurship and free enterprise in Northeast Ohio through targeted educational opportunities. EDGE, a non-profit economic development organization focused on innovation and entrepreneurship in Northeast Ohio, serves as the administrator of the program. Funds from Morgan Foundation and Fasenmyer Fund cover the costs associated with Scalerator NEO, and there are no fees charged to participating companies.
For more information on how to apply for the next Scalerator NEO cohort, please visit ScaleratorNEO.org or contact Brittany Bush at Brittany@edgef.org.