kicked off its inaugural program on September 4 with 10 technology startup companies eager to move to the next level. The program is funded through a $200,000 ONEFund
grant and a $50,000 grant from Clarion Direct Investment. Each company will receive a $25,000 investment from LaunchHouse to grow their business.
“We’re quite excited,” says LaunchHouse CEO Todd Goldstein. “It’s changing the way investments are made in Northeast Ohio. With a little bit of capital we work with them to go from idea to validation.”
Goldstein describes the accelerator program as “customer-centric,” emphasizing the identification and needs of potential customers to grow the business. The 12-week program will provide mentors and instruction to the startup owners, guiding them through set goals.
“We’re hitting the ground running,” says Goldstein. “We’re not starting from scratch. We’re looking at the best innovators and how the company has grown.”
More than 60 companies from around the world applied for the accelerator. Twenty were selected to make their pitches to a panel of experts. From there, 10 companies were chosen, nine of which are from Northeast Ohio. The hope is that these 10 businesses will remain in Northeast Ohio once they are better established.
“The goal is to keep these companies in the region,” says Goldstein. “We believe Northeast Ohio is prime for an explosion of entrepreneurs.”
Source: Todd Goldstein
Writer: Karin Connelly