Scaleup Support for Second Stage Entrepreneurs

Burton D. Morgan Foundation believes that supporting second-stage businesses - companies with revenues between $1 million and $50 million - is critical for fostering sustained economic growth, job creation, and innovation. These businesses, often referred to as scaleups, face unique challenges distinct from startups. They've proven their concept, secured a customer base, and now require strategic support to scale their operations, expand market reach, and solidify their position within their industries.

Companies with revenues of $1 million - $50 million have an outsized impact on the regional economy and the creation of new jobs. There is a need for more intentional programming aimed at this important subset of entrepreneurs that will give them the tools to continue to grow.

What are second stage companies?

Second stage companies are privately owned, growth-oriented companies with annual revenues between $1M and $50M and at least 10 employees.

To address the scarcity of programming for this important subset of entrepreneurs, Morgan Foundation currently supports two initiatives:

Scalerator NEO

In 2017, Morgan Foundation partnered with the Richard J. Fasenmyer Foundation to launch Scalerator NEO, a six-month cohort based educational program for leadership teams seeking to deliver immediate growth to their second stage businesses.  The Scalerator program was developed by Dan Isenberg, CEO of Entrepreneurship Policy Advisors and former Harvard Business School professor.   It serves companies with $3 million - $15 million in sales and a desire to grow, and touts impressive results, with the vast majority of companies reporting significant growth following completion of the program.

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Edward Lowe Foundation Suite of Programs

Morgan Foundation partners with Edward Lowe Foundation to provide a variety of resources and tailored program options designed to spur the growth of second stage businesses.  Some opportunities are held virtually, while others are conducted onsite at Edward Lowe Foundation’s Big Rock Valley property in Cassopolis, Michigan.

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Second Stage Networking & Learning Series

Burton D. Morgan Foundation is hosting a series of events in collaboration with MAGNET in 2026 for second stage entrepreneurs and small businesses.  These events and others are listed chronologically on our Events webpage as they are scheduled. 

August 26 – Networking & Learning Social
Location: Michael Angelo's Winery, 5515 Broadview Rd, Richfield, 
Time: 5:00 - 7:00 pm

Join us for an evening of networking and connecting with fellow entrepreneurs and industry experts. Enjoy complimentary appetizers and drinks while exploring opportunities and resources designed specifically for second stage companies.

Register

November 4 – Breakfast Learning Program
Location: MAGNET, 1800 E. 63rd St., Cleveland
Time:  7:30 - 9:00 am

Access to capital is a critical component of business growth, but venture capital is only one of many funding options available to entrepreneurs. Join Jeffrey Stern of the OHIO Fund for a discussion on the capital landscape for second-stage companies, including an overview of the OHIO Fund and the various ways it supports Ohio businesses.

This session will explore different pathways to funding, considerations for choosing the right capital strategy, and resources available to help companies grow. Whether you are actively seeking investment or simply looking to better understand your options, you'll gain practical insights and have the opportunity to engage directly with an experienced capital provider.

Register

To learn more about Burton D. Morgan Foundation’s second stage programming, contact Michal Marcus.