Entrepreneurs Compete at State Level; Winners Advance to Global Competition

December 27, 2011 - TiE Ohio is pleased to announce an exciting business competition with a prize package
valued at $25,000 (consisting of cash and services) for emerging entrepreneurs. In addition to the emerging
entrepreneur prize, current entrepreneurs will compete for the chance to represent TiE Ohio at the global
TiEQuest competition in Toronto on April 11, 2012. There, they have a chance to win a prize package valued
at $150,000 and up to $1 million in investment. Current and aspiring entrepreneurs are encouraged to enter
the competition, which consists of three rounds of submissions: an executive summary, a video pitch, and a
business plan. Contestants may work with their current mentors or may be provided with a TiE Ohio
mentor. Coaching sessions and networking events are part of the competition process. Judges representing
the investment community will select three to five finalists to present at the competition in March 2012. For
the second year, Charter One will be the lead sponsor.

Hyperlocal funds help boost Ohio entrepreneurship

Article by Lee Chilcote from HiVelocity to view entire article use this link.
Sunday, January 15, 2012

To spur economic development and create jobs in their communities, several Ohio cities have created new, hyperlocal funds that offer attractive financing to entrepreneurs that may have the next great business idea, yet lack the actual cash to implement it. The catch? They must be willing to put down roots and grow their businesses locally.

One example of a growing Ohio business that recently took advantage of such hometown love is ManuscriptTracker, a Wooster-based firm that sells web-based software that automates the peer review process for academic journals. Co-founder Brian Boyer says a $35,000 deferred-payment loan from the Wooster Opportunities Loan Fund made it possible for him to bring his product to market last year.

"We saw lots of potential to grow our business, but funding is very hard to come by for start-up software companies," says Boyer, a Wooster native. "Thanks to receiving funding last year, we were able to develop a market version of our software, as well as sales resources such as a database, marketing collateral and potential client list."

ManuscriptTracker's software organizes and automates peer review tracking for busy academics that don't have the time or resources to manage the process themselves. The stringent nature of the peer review process, particularly with scientific journals, often necessitates involving as many as 20 individuals in a single review.

"To be published in an academic journal, your work must be vetted by the research of your peers, but that means asking top researchers to set aside their time," explains Boyer. "We simplify and organize the process and provide helpful reporting forms. We also help academics to track who in their network is quick and knowledgeable."

With the assistance of the economic development nonprofit Jumpstart, similar hyperlocal funds have also been created in Barberton, Canton and Mansfield.

As the New Year kicked off, ManuscriptTracker had already secured one new client, and Boyer says he's hopeful that the new software will attract additional clients soon.

Six organizations were named winners of SSTI's 2011 Excellence in TBED award, serving as national models for states and regions investing in science, technology and innovation to grow their economies and create high-paying jobs. Among the winners, a newer program was selected as the first Most Promising TBED Initiative, recognized for a creative approach to growing industry clusters.

Awards were presented today during SSTI's 15th Annual Conference in Columbus, OH, attended by local, regional and national leaders in economic development.

The following initiatives from Northeast Ohio were named 2011 recipients of SSTI's Excellence in TBED award:

Entrepreneurs, members of the media and interested community members attended the fornal launch of the Appleseed Microfinance loan fund.

Entrepreneurs, members of the media and interested community members attended the fornal launch of the Appleseed Microfinance loan fund.

The celebration held Monday at the Cafe on Main Street in Mansfield, was sponsored by Braintree Center for Business Innovation, a member of the JumpStart Entrepreneurial Network.

John Dearborn, President of Jumpstart Inc., gave a presentation of the fund's parameters to those in attendance and answered questions regarding the funds admissibility requirements and application process.

The money can be used for equipment, inventory, business debt restructuring, working capital, and short-term projects.

To learn more about JumpStart Entrepreneurial Network log on to www.jumpstartinc.org.

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