Scalerator NEO Program Launches with First Cohort
The initial cohort of the Scalerator NEO program, co-funded by Burton D. Morgan Foundation and Richard J. Fasenmyer Foundation, launched on April 20-21. Scalerator NEO is a six-month, cohort-based educational program for entrepreneurs and leaders who want to deliver immediate growth to their businesses and are open to learning new ways to achieve this goal.
Scalerator was developed by Daniel Isenberg, founding director of the Babson College Entrepreneurship Ecosystem Project. Over 100 companies have participated in Scalerator to date, with previous cohorts taking place in Milwaukee, Manizales (Colombia) and Rio de Janeiro (Brazil). The Scalerator curriculum, focused on the 3 Cs of growth – Customers, Capacity and Cash – has helped companies from diverse industries and sectors grow; many increasing by 25% or more following the program. The target profile for the initial cohort of Scalerator NEO was companies between $5 million and $15 million in sales and a desire to grow their businesses. Companies from all sectors were encouraged to apply, as a diverse cohort of companies has proven to provide the most fertile ground for a successful Scalerator experience.
Sixteen Northeast Ohio companies will participate in the first cohort of Scalerator NEO. The participants include manufacturers, service businesses, and tech companies from Cuyahoga, Geauga, Portage, Stark, Summit, and Wayne counties. The businesses average roughly $7 million in sales and 50 employees. Cohort members include:
Cleveland Steel Tool
Eagle Elastomer, Inc.
Harrison Paint Company
Heat Seal, LLC
JMI Reports, Inc.
Montville Plastics and Rubber
One Wish, LLC
Sarah Day Care Centers, Inc.
The Technology House
Scalerator NEO will complement other services currently available to support established, growing enterprises in Northeast Ohio by offering highly-motivated entrepreneurs an opportunity to learn practical skills with a small, select group of peers. The cohort learning environment has proven to stimulate new growth strategies and inspire entrepreneurs to aggressively grow their businesses. Many local economic development organizations and professionals have rallied behind Scalerator NEO, and were a part of the effort to identify the first cohort.
Scalerator NEO workshops will take place on the campus of Baldwin Wallace University. For more information about Scalerator NEO, please visit ScaleratorNEO.org.