Innovation + Job News

More than 100 people turned out May 16 at the Ohio City Firehouse to celebrate the newest graduates of Bad Girl Ventures’ business plan competition. Babies Travel Too was the recipient of a $25,000 loan from KeyBank.

Babies Travel Too was created by Alison Musser, who based the company on her own experiences as a parent. The company provides nightly and weekly rentals of full-size cribs, car seats, strollers and other essential baby gear to people traveling to the Cleveland metropolitan area. The equipment is JPMA-certified and sanitized before every rental.

“Musser not only had a good idea; she was the right person to run the business,” says Rachel Czernin, director of marketing and developments for BGV. “She is smart, dedicated, and has personal experience in this area. She uniquely understands the predicament traveling mothers have and has the business sense to develop her concept and turn this regional business into a national business.”

Three additional companies received $5,000 loans from The Giving Back Gang. Those companies were: Anne Hartnett, creator of Harness Fitness, Inc., Cleveland's first sustainably run group cycling studio and fitness clothing retailer; Karen Malone Wright, creator of TheNotMom.com, a blog for women who are childless; and Kelley Hynds creator of Hyndsight Media, an online video journalism platform that provides short-form video web spots on current social and civic topics.
 
The event was sponsored by Huntington Bank, Additional support came from The Cleveland Foundation and The Business of Good Foundation. “Catering was provided by past finalist and loan recipient Hungry Bee Catering.
 

Source: Rachel Czernin
Writer: Karin Connelly

Getting real-time feedback from customers via social media might be very valuable for restaurant owners. Thanks to VenueSeen, which launched on April 17, that information is now easily available to them.

VenueSeen shows restaurant owners who is saying what about their business on FourSquare, Instagram, Foodspotting and other social media websites. The software also aggregates any photos that are taken at the restaurant.

Family or friends dining out might take a photo and make a positive comment or give the venue a big thumbs down. What diners post may present a marketing opportunity or the need to remedy an unpleasant dining experience.

“Photos and comments form a brand’s social identity,” explains Brian Zuercher, ceo of FlyMuch, the parent company of VenueSeen. “What we’re offering is original content and photos to restaurant owners. It’s good to be aware of what’s being said about your business, and photos add visual content.”
 
According to Zuercher, VenueSeen gathers what’s posted about a restaurant on those three social platforms so that the owners can see, track, analyze, connect and compare the information in a meaningful way. “Owners can use this content to help them have a consistent message communicated across the board,” he notes. “The information can also help them collect feedback, show appreciation, respond to suggestions and interact with their customers online.”

FlyMuch began in the consumer travel industry. Based on feedback gleaned from its experiences in that field, the company launched VenueSeen for restaurants.  VenueSeen's clients currently include some independent restaurants, the Macaroni Grill restaurant chain and a food store in London.

FlyMuch has three full-time and two contract employees and plans to hire five more full-time employees by the end of 2012. The company has received funding from the Ohio TechAngels Fund.


Source:  Brian Zuercher
Writer:  Lynne Meyer

Two budding Central Ohio entrepreneurs have identified a problem in the bankruptcy marketplace and  developed a streamlined solution -- a new company called One Exchange Street.

One Exchange Street is an online bankruptcy claims trading engine that Todd Zoha and Sean O’Riordan established in January of this year. The startup company is designed to be a one-stop shop for both buyers and sellers of bankruptcy claims.

While working together in the turnaround and restructuring advisory unit of a global business consulting firm, Zoha and O’Riordan noticed something critical.

“We were working on the Lehman Brothers bankruptcy and saw how the marketing for unsecured bond positions was very transparent and liquid,” explains Zoha, President and CEO of the company. “We wondered why there wasn’t that same kind of transparency and liquidity for other types of bankruptcy claims, specifically general unsecured claims and administrative claims.”

Buyers of bankruptcy claims are generally sophisticated about the process, he notes. “If you’re a claims seller, however, you’re getting all these calls and contacts from buyers, and you have no way to evaluate whether the price you’re being offered is fair and reasonable,” Zoha says. “This is a big problem for sellers.”

With One Exchange Street, Zoha and O’Riordan have opened up and streamlined the process for bankruptcy market participants. “Claims sellers can list their claims and see recent transaction amounts for similar claims,” Zoha explains. They can also see prices at which bidders are willing to buy. “An important advantage we offer is that all members on our exchange agree to transact using a standardized claim transfer agreement. This enables real-time execution of transactions. These two things differentiate us from our competitors."

There are advantages for buyers of bankruptcy claims as well. “First, we’re a source of information for them about claims sellers,” Zoha says. “Buyers can also aggregate and buy multiple claims at once. Finally, buyers can turn around and sell a claim to other institutional buyers.”

Zoha and O’Riordan raised approximately $600,000 from friends and family for their startup and received a $300,000 investment from TechColumbus in April.

Source:  Todd Zoha, One Exchange Street
Writer:  Lynne Meyer

Brian Wildes, founder and CEO of Ecolibrium Solar, is a big believer in sustainable business practices, and the name of his Athens-based company reflects that.

“I named it Ecolibrium because we have to realize that our economics have to be in line with our ecology in order for sustainability to be reached,” he explains.

The company’s product, EcoFoot, is the first 100 percent recycled plastic mounting system for flat-roof solar arrays. It provides a systematic arrangement of solar panels in rows and columns.
 
Wildes got the idea for EcoFoot while working as an engineer for a solar panel installation company. “We were always in search of new and better products and not satisfied with what existed in the marketplace,” he recalls.
 
There are three types of applications for solar panels – a flat roof, a pitched roof and ground mounting. EcoFoot is designed for flat roof mounting only.
 
According to Wildes, his product represents a big step toward enabling grid parity. “That will occur when the solar industry will match the cost of grid-delivered electricity without price subsidy,” he explains. “EcoFoot saves both time and money for solar panel installations.”
 
Wildes established Ecolibrium Solar by himself in April 2010. Since then, he has added six employees and is ready to roll out EcoFoot 2 in a couple of months. “This will be significantly different from the first version,” he says. “It will have a lower ballast weight, integrated grounding and wire management and will be more durable.” The materials in both products are recyclable, he adds.
 
“We stack up well against our competitors,” Wildes notes. “We’re leading the trends of material changes in the industry.” He plans to increase his sales force for more penetration of national and international markets.
 
Ecolibrium has received funding from TechGROWTH Ohio.


Source:  Brian Wildes
Writer:    Lynne Meyer

The Central Ohio-based company e-Cycle wants you and your business to understand the importance of responsibly recycling your mobile devices.
 
“A lot of our clients don’t even know that they might be sitting on a goldmine,” says Founder and CEO Christopher Irion, who launched the campaign after receiving feedback from corporate leaders who were unaware a company like his existed. “If a company has 1,000 used blackberries, that could be worth $50,000 of access to sensitive corporate information.”
 
Irion wants e-Cycle’s current and prospective clients to know there is a solution to safely disposing sensitive information. “e-Cycle will not only pay you for all the used devices, but also make sure that all your personal and corporate information is deleted from the devices.”

Best of all, they’re able to do so in an environmentally friendly manner. “The last thing we want any individual or corporation to do is get rid of these devices by disposing them in a trash can, because of the environmental risks associated with it.” All mobile phones are shredded at their facility with the shredded materials recycled in an ISO Certified, EPA-registered facility where the materials are reclaimed for reuse.
 
e-Cycle has been hosting events with current partners and targeting prospective clients through email and marketing campaigns to help spread the good word. The response from the business community has been strong. With over 14,000 corporate customers, e-Cycle is continuing to grow.

“Based on the amount of phones we’ve received from this initiative, this will be the best month in company history,” explains Irion. “We’re really excited about not only this month, but obviously the impact this is having on our future business.”


Source: Christopher Irion
Writer: Joe Baur

The Athens-based company Eco2Capture has been awarded $100,000 by the Ohio Third Frontier for its project, Demonstration of Advanced Polymer Membranes for Algal Growth Enhancement, which will showcase how to mass-produce algae for the CO2 capture and biofuel markets.

“We’re commercializing some technology developed at Ohio University to enhance the amount of carbon dioxide that is taken from the air or from a gas, like at a power plant, and transfer it into the water where algae grows,” explains Dr. David Bayless, President of Eco2Capture. “In theory, you can grow more algae with more carbon dioxide and that really changes the economics of algal growth, because the more algae you can grow within a fixed system, the better your return.”

Algae is used for fuel, Omega-3 fatty acids, proteins, nutraceuticals, and all kinds of dyes. The ECO2Capture membranes will be used to increase the productivity of algae for commercial algae growers by providing very inexpensive, just-in-time carbon dioxide to promote photosynthesis. The just-in-time delivery will also significantly lower variations in water acidity and promote algae culture health.

The technology, which Bayless characterizes as “quite simple,” is a membrane technology that accelerates the amount of carbon dioxide in the air, which in turn accelerates its acceptance into the water. Dr. Bayless and his supporting staff of Jesus Pagan and Dr. Ben Stuart will demonstrate the technology at four different sites at two different levels. First is an initial exam showing people that it works.  “The other is to actually do some eco-productivity measurements and analysis of the algae.”

Dr. Bayless and his team are excited for the opportunity. “It’s a big step and without that funding from the state of Ohio, it would have been a real challenge for us to try to get pre-seed funding to do this demonstration,” he says. “This technology is very interesting, but it has not been proven at a very large scale. What we’re trying to do is take it out of the university environment and turn it into something that is actually practical.”


Source: David Bayless
Writer: Joe Baur

Dennis Cocco has a good problem: he and other leaders of Lorain County Community College's Innovation Fund have a hard time choosing winners each year because applications are so strong.

“We’ve been doing this for four-plus years,” says the director of the Great Lakes Innovation and Development Enterprise (GLIDE), a partner of the Innovation Fund. "The quality of the business idea, the entrepreneur and the presentation are better today than what we saw back in those early days. It’s because of the ecosystem we’ve created here in Northeast Ohio to mentor, lead and help young businesses understand the process to be an entrepreneur. We now have one of the better ecosystems in the country.”

Cocco says that those companies who don’t get funded (this year there were over 40 applications with 6 winners) can come back next quarter. In the meantime, “We offer a debriefing, explain what we saw as their strengths and weaknesses, how to make their businesses better.” Cocco says that because of this support system, there are more people starting businesses than four or five years ago.

Innovation Fund awards go to startups in the fields of alternative and advanced energy, advanced materials, instruments, electronics and controls, biomedical innovations, and advanced propulsion – categories determined by partner/funder Ohio Third Frontier.

This year’s awards went to startups in Elyria, Massilon, Hiram, Shaker Heights, Parma Heights, and Concord. They include alternative financing for retailers (IGW Finance Alternative); products to improve the energy efficiency of heating, cooling, and lighting systems (Paragon Robotics); a faster method of testing biological samples (QURA Scientific); a coating material to control corrosion (Tesla Nanocoastings); a sensor-based system to transmit patients’ clinical data to nurses’s stations (Future Path Medical); and a marketing platform for musical events (In2une).


Source: Dennis Cocco
Writer: Catherine Podojil

The statistics for obesity in the United States are staggering.  According to the Centers for Disease Control and Prevention, obesity is common, serious and costly -- more than one-third of adults (35.7 percent) and approximately 17 percent of children and adolescents are obese. Obesity-related conditions include heart disease, type 2 diabetes, stroke and certain types of cancer.

Matthew During, Ph.D., founder of Obgenex, is well aware of these sobering statistics.  The professor and full-time researcher at The Ohio State University is working to develop an effective treatment for obesity.

“When investigating environmental manipulation to control cancer, we discovered that so-called enriched environments reduced body fat and made animals resistant to obesity," During explains. "We then discovered the molecular pathways in the brain that made these animals obesity resistant.”

That led to developing the Obgenex treatment. “Our product will be the first biological and neurosurgical therapy for obesity,” he notes. “We essentially reset that part of the brain that regulates appetite and metabolism.”

Obgenex recently received a grant of $100,000 from Ohio Third Frontier to conduct a proof-of-concept study. “The study will take six to 12 months and will demonstrate efficacy and safety, which means effective weight loss with no adverse events,” During says. He is using a specific type of mice in the study. “They have an identical mutation that is found in the subgroup of human subjects who we plan to enroll in our Phase I clinical trial.”

The successful completion of the study is necessary for FDA approval to move forward on clinical trials with humans and will be used to lure investors to fund larger scale trials.  The technology will be licensed from The Ohio State University.

 
Source:  Matthew During
Writer:  Lynne Meyer

Developers at Gaslight Software have done what many just daydream of doing. The young software development company was forged by freelancers, many of whom left corporate life.

"We were independent contractors. Most of us met at what's now called Cincinnati Agile Roundtable," says Gaslight developer Doug Alcorn. "After a few years, we decided we could do better if we worked together instead of on our own. We have no titles, no boss. This is 100 percent team-driven."

A dozen developers work in Gaslight's Blue Ash office, helping clients develop mobile- and web-based applications that improve efficiencies and promote business growth.

Gaslight works with growing companies and startups across the country. Among applications they've developed are Tweethopper, which allows you to manage multiple Twitter accounts; WebPulp.tv, a video podcast that explores the inner workings of scaling a web ap; and Vendor Wizard, which securely automates the tracking and management of vendor relationships and documents.

"We want to make an impact, and work to benefit our clients in tangible ways. We want to feel we're part of their team in developing software and not just a vendor," says developer Peter Kananen.

Gaslight works to cultivate a culture of community and teamwork that carries into the wider Cincinnati tech community. The company participates in a number of local developers' groups, including Cincinnati Ruby Brigade and Cincinnati Lean Startup Circle. They're also the lead organizer of the first Queen City Merge web conference May 10 and 11.

"There's a lot of talk about brain drain in the city. It's a constant battle. We want to highlight tech in this city, get people together and have them look around to see what's going on around them," Alcorn says.

By Feoshia Henderson
Follow Feoshia on Twitter

In a city that's home to branding, retail and consumer powerhouses like Procter & Gamble, Macy's Inc., LPK and Nielsen, it's natural that Cincinnati Innovates would add a consumer products category to the annual invention competition.

"Being such a cool consumer marking town, we have a ton of consumer product ideas. We want to help people with ideas get their product on the shelf," says Cincinnati Innovates founder Elizabeth Edwards.

Edwards, CEO of Metro Innovation, launched Cincinnati Innovates in 2009 to spur investment in innovative products and services across Greater Cincinnati. Since its founding, several similar contests have sprung up across the region to drive dollars to ideas.

Cincinnati Innovates competitors this year will vie for $100,000 in cash prizes and awards. This year's contest runs until July 15, with a $1,000 early bird prize up for grabs May 30. To enter to contest, go the the Cincinnati Innovates website. Winners will be announced Aug. 16 at Northern Kentucky University.

Cincinnati Innovates entries have been heavy on software, medical and web-based ideas, but the contest always saw a fair share of consumer products. By creating a new category for these products alone, Cincinnati Innovates' partners hope to better nurture those ideas.

CPG Strategies will award $25,000 in services to a consumer product seeking retail distribution. In addition, a new class will be added to Cincinnati Innovates' annual lineup of complementing entrepreneurship courses. The course will be based on the book CPG 101: Strategies to Get Your Consumer Product to Market, by CPG founder David Towner.

Since 2009, Cincinnati Innovates winners have earned $250,000, and have leveraged an additional $5 million in investments.

Other prizes include:

• A $2,000 HYPE Community Choice Award
• Two commercialization awards of $25,000 and $10,000 from CincyTech
• $10,000 in branding and design services from LPK
• A $5,000 video production award from 7/79

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By Feoshia Henderson
Follow Feoshia on Twitter

Shelley Freed, co-founder of Ashton Business Solutions, a consulting group specializing in research-based business strategies, admits that she relies on technology just as much as the next person. But amidst all the emails and text messages, Freed’s goal is to put the human touch back into ABS’s strategic marketing and positioning.
 
“I do a lot of market research and strategic research for companies,” says Freed. “I get to interact with companies’ internal teams about how customers impact their businesses. Inevitably, I end up interacting with their databases.”
 
In doing so, Freed found that many companies do not have complete data on their customers, and therefore can’t make informed decisions on how to make improvements to their customer service.
 
“Very few companies have really solid data,” says Freed. “So I started thinking, wouldn’t it be great if companies would update their records -- throw in an extra question as a customer service touch point, like, Is there anything we can do for you today?"
 
The thought prompted the creation of ABS’s Customer Service Outsource Center. “And it’s a real person on the phone,” says Freed. “People still want to be able to talk to a human being. It makes a big difference. It’s all about humanity in business, even if it’s sometimes easier to send off an email.”
 
ABS is rolling out the center, including a secret shopper service. “This, then, is more than a data bank for customer information; it is intended to be an invaluable resource that can help companies discover new and highly successful ways of growing their businesses,” explains Freed.
 
ABS has several part-time people on staff now and Freed is interviewing for the call center. They recently hired someone to lead the telemarketing aspect of the company.

“The initiative for Ashton this year is to push the humanity back into business,” Freed says. “Business is about relationships. That means getting on the phones to talk with customers, prospects and referral sources on a regular basis all the time. We’re hoping by the end of the year to have a handful of people in permanent part-time positions.”
 

Source: Shelley Freed
Writer: Karin Connelly

Life Core Technologies received a $250,000 investment from JumpStart for its Excel disposable cerebral cooling system, a device that reduces chances of death in a medical emergency.

“Excel has a cooling element that cools the brain 1.5 to 2 degrees Celsius very quickly after cardiac arrest, stroke, or traumatic brain injury,” explains Life Core CEO Mike Burke. “The cooling allows the brain to use less oxygen and prevent oxygen depletion and swelling.”
 
The technology was developed by cardiothoracic surgeon Aqeel Sandhu in the late 1990s. “He discovered though his work with animals that cooling the brain can reduce the metabolic rate and several hours later they came back,” explains Burke. “In 2010, the American Heart Association came up with guidelines stating the cooling as soon as possible after cardiac arrest increases the chances of survivability and retained mental capacity."
 
The JumpStart investment will allow Life Core to conduct additional scientific studies. “We are working with a number of organizations to do additional studies,” says Burke. “We are proving the effectiveness.”
 
Burke is proud that the product is manufactured by a local company and assembled by Patriot Packaging, which employs veterans.
 
Life Core currently has five employees. “We will be expecting to grow as we attain commercialization,” says Burke. “We expect to grow internally with two people and also grow externally through distributors in Northeast Ohio.”

 
Source: Mike Burke
Writer: Karin Connelly

With current technology, retailers must negotiate each site individually on which they want to sell, requiring a lot of extra time and coordination.

Yet the Columbus-based company nChannel has come up with a way to simplify the process. It has created a cloud-based service that allows retailers to connect all the sites and channels they must negotiate every day, making it easier and faster for retailers to navigate the system.

“It’s a unique technology that no one else is using in the marketplace, and a unique approach to multi-channel management,” says Lisa Steinhart, Vice President of Marketing for nChannel.

Steinhart explains how the new technology helps retailers function better from day to day. “I have to go to Amazon, enter all my images, prices, inventory, etc., and then do the same thing on eBay, Walmart, my retail store, and so forth," she says. "If you really want to be a retailer you have to be both online and at your store, and you’re also trying to compete with everyone else who has web presence.  We help connect all those systems, knit them together.”

Steinhart says, “Today, companies have two options. They either hire a developer (expensive, time-consuming, a major disruption), or choose products that already work with what they have. Maybe they’re not the best products, but the integration is possible. The advantage of nChannel is that it’s low-cost, quick, and gives companies the ability to use the system in which they’ve invested.

The nChannel site was launched in January of this year, and can be purchased directly from nChannel or through resellers. The company has landed two large customers -- one is an NFL team and the other is a large triathlon organization. nChannel will enable the latter to connect all their race locations and inventory.


Source: Lisa Steinhart
Writer: Catherine Podojil

Last year, one of the attendees at the annual Ohio Growth Summit in Columbus "quit his job the day before the summit, came to the summit and started his business the next day," says Mike Bowers, District Director of the Ohio Small Business Development Center at Columbus State Community College.

That summit attendee is Timothy Wolf Starr, who founded the Small Business Beanstalk, a "local-first" company that connects small retailers to a base of active consumers in the Columbus area. A Small Business Beanstalk card allows shoppers to obtain discounts at independent retailers. The company is now booming, and Starr says, “I send a lot of my clients to the Summit each year.” 

That's why Bowers and Starr encourage all Ohio small business entrepreneurs or hopefuls to attend this year’s summit, which will be held on May 24th at CSCC.

This year’s summit, Bowers says, “is focused on those small business owners who are either starting or growing their businesses. An individual coming to the event can customize their day -- whether it's an owner getting tools and techniques to use immediately, someone having only an idea and not knowing anything about business, or the person who’s been in business for years and is looking to grow."

Summit reakout sessions will address such diverse issues as financing, online social media, marketing and later-stage change. The Ohio Growth Summit is made possible due to a grant from the Small Business Administration.


Source: Mike Bowers
Writer: Catherine Podojil

Tom Barratt owns a company that helps early-stage entrepreneurs to gain access to capital, expertise and high-level contacts, so it's no surprise that in 2006, his expertise was essential to creating LaunchTown, an annual "best idea" competition in Northeast Ohio.

Barratt was inspired by the efforts of the Ewing Marion Kauffman Foundation as well as a business professor at John Carroll University who wanted to create something for his students, The first year involved students from John Carroll and then grew to include universities and colleges across Northeast Ohio.
 
Barratt  says that the mission of LaunchTown is to give back to young people by “creating opportunities for students with great ideas to launch their businesses here and not take their talent and creativity to another part of the country after graduation.” The event is supported by the Burton D. Morgan Foundation.
 
Through Barratt’s contacts, he’s been able to gain the support of the North Coast Angel Fund, Akron’s ARCHAngel Network, JumpStart and other organizations.
 
Businessweek has recognized winners from 2010 (LifeServe Innovations) and 2009 (CitizenGroove) by naming them among the top 25 young companies created by individuals who are under 25 years of age. LaunchTown winners have also beaten teams from Harvard and Yale in national competitions.
 
Each year since 2007, finalists have brought their best ideas in science, engineering and the biomedical fields to compete for a $10,000 first prize and additional advisory services that are valued at $20,000.
 
This year’s winner, announced at an event in mid April, is University of Akron’s “Telkesis,” a four-student team who created a unique spinal implant that insures greater safety, flexibility and efficiency for patients who need spinal stabilization.


Source: Tom Barratt
Writer: Lee Chilcote