Karin Connelly Rice

gay games wants $50m economic impact shared by small businesses
When the Gay Games come to Northeast Ohio next August, 30,000 athletes and spectators are expected to descend upon Cleveland, visiting the city’s attractions, staying in area hotels, eating in restaurants and using other services.
 
Organizers are making sure small businesses know the impact the games could have on them, as well as how they can get their names out there. A local staff of 10 organizers has hosted two events targeted at small business sponsorship. A third event will be held Tuesday, August 27 at Stonetown Restaurant at 5:30 p.m.
 
"Gay Games 9 will have a $50 million economic impact on the region,” says Mary Zaller, director of development for the Gay Games. “I want as many small businesses as possible to get a piece of that pie.”
 
Small business sponsorships range from $500 to $14,000, making it affordable for companies of almost any size to get involved. “For just $500, a small business can be a sponsor of the Gay Games and get our logo on their website and their logo on our website, program and social media,” notes Zaller. “It gives small businesses the power to put themselves out there and show their support of the LGBT community and of equality and equal rights.”
 
Seventy-five percent of the events planned will take place in downtown Cleveland, with the remaining being held in Akron. “You don’t have to be gay, you don’t have to be good, you just have to be 18 to participate,” says Zaller. “We’re all about inclusion, participation and your personal best.”
 
Cleveland is the smallest city to ever host the Gay Games, which started in 1980 and takes place every four years. Previous host cities include San Francisco, New York, Chicago, Sydney, Amsterdam and Vancouver.

 
Source: Mary Zaller
Writer: Karin Connelly
software entrepreneur has his eye on the sky with plans for lakefront skylift
If Jon Stahl of LeanDog fulfills his ambitious dream -- as he so often does -- Cleveland could see a string of elevated skylifts along the lake shore. With a planned 11-stop system, the tramway would move passengers between places like the Municipal Lot, Burke Lakefront Airport, the Convention Center, Wendy Park, Edgewater Park, and both banks of the Flats.
new compass biomed will speed delivery of stem cells to needy patients
Arteriorcyte, a developer of stem cell products and medical devices, has launched Compass Biomedical to speed up the delivery to patients three Arteriocyte stem cells products. Created in December 2012, Compass officially got underway in June.
 
“The purpose of Compass is to help solve the issues in getting stem cells to patients,” says Kolby Day, Compass Biomedical vice president and general manager of research and development. “The challenges are having enough stem cells and improving the tools used.”
 
Compass supplies three product lines used to grow stem cells for research and in clinical settings. The products mimic bone marrow and promote the growth of stem cell cultures. “Arteriocyte is more the research and development company, while Compass is more of the team that sells, markets and gets those products into the hands of people who can use them,” says Day.

Compass has hired four people since December. As Arteriocyte develops new products, Day expects Compass will in turn expand its team. “We want to continue to build the sales team and continue finding products to sell,” he says. “We anticipate bringing in at least two to three products in the next six months, and we will be hiring based on demand.”

 
Source: Kolby Day
Writer: Karin Connelly
study shows small startups have huge economic impact on the region
An annual study conducted by CSU’s Center for Economic Development at the Levin College of Urban Affairs shows that start-up companies in Northeast Ohio contribute significantly to the economy. The study surveyed tech-based companies that received assistance, either financially or in services, through JumpStart or the North Coast Angel Fund.
 
The 127 companies who participated in the study generated $211 million in economic benefits in Northeast Ohio in 2012, $270 million state-wide. These companies helped create and retain 1,100 in-state direct jobs, with a total Ohio employment impact of 2,140. The companies and their suppliers also increased total Ohio household earnings by $125 million and contributed nearly $12 million in state and local tax impact.
 
As the early-stage companies grow, their impact increases, according to the study. Among those surveyed, 44 companies participated over three years -- from 2010 to 2012, showing 53 percent job growth and a 36 percent increase in economic impact over those three years.
 
“These numbers quantify the impact small companies made,” says Cathy Belk, JumpStart COO. “Small companies make a big difference.  It’s exciting to see the impact the companies we see every day are having. We see how hard these companies are working.”
 
With all of the organizations in Cleveland that support start-ups, in addition to support from Ohio Third Frontier, which provides funding to organizations like JumpStart, the region is ideal for new businesses.

“We continue to believe that Northeast Ohio is the best place in the country to have a small business or a new business,” says Belk. “We have such a robust ecosystem for startups and small business.”

 
Source: Cathy Belk
Writer: Karin Connelly
seventh healthcare organization joins cleveland clinic healthcare alliance
Cleveland Clinic Innovations (CCI) announced last month that Wisconsin’s Marshfield Clinic Applied Sciences is the seventh clinic to join the Clinic’s Healthcare Innovation Alliance. The collaboration will help Marshfield develop and commercialize its innovations and improve healthcare.
 
The alliance, formed two years ago based on CCI’s 13 years of experience, is a way for the Clinic to share its knowledge while also improving upon its reputation within the healthcare industry. In Marshfield’s case, the Clinic is hiring a senior commercialization officer who will be embedded in Wisconsin.
 
The officer will help to advance diagnostic tools and treatments created by Marshfield Clinic physicians, researchers and staff. The Innovation Alliance also will foster the transfer of Marshfield Clinic technology into commercialization.
 
“It’s about getting the technology quickly to the patient,” says Brian Kolonick, associate general manager of the Innovation Alliance. “It’s all collaboration, these are not bilateral relationships. We look for ways to collaborate, to share knowledge.”
 
There are 65 Clinic employees working within the alliance. “If someone in the alliance has an idea, we get a person on the ground there,” says Kolonick. “We find the right person with the right expertise. It’s getting the right people to the table.”
 
Conversely, the Clinic also learns about what other researchers are doing around the country. “We’re about going in there and getting fresh ideas, flushing them out and commercializing them,” says Kolonick. “It’s about getting in there and shaking trees.”
 
The Innovation Alliance gets a percentage of the revenues from any idea that goes to market.
 

Source: Brian Kolonick
Writer: Karin Connelly
jumpstart investment allows boxcast to expand its offerings and staff
When Gordon Daily founded BoxCast in 2008 after a funeral director asked his business partners to create a way for family members to privately observe funeral services at his chapel, he had no idea the concept of simple, live streaming video would be so popular.
 
Today, business is booming, especially in the church and on athletic fields. BoxCast allows anyone with a camera to stream live video to BoxCast’s cloud-based service. Users can then watch the video anytime, anywhere.
 
“We have eclectic audiences looking to do things they’ve never been able to do before,” explains Daily. “It’s simple and affordable because no one has to be a technical expert to stream live video.”
 
With JumpStart’s recent $250,000 investment, things are moving even more quickly. “The JumpStart funding was the jump start of our company, it really was,” says Daily. “Until we had the funding, we couldn’t do what we really needed to do.”
 
What BoxCast needed to do was hire the right people to implement and market the company’s technology and build the right business relationships. “Now, it’s all happening,” says Daily. “The pieces are coming together. A lot of partnerships are coming together.”
 
Daily says a lot of high schools, colleges and churches are interested in BoxCast for their sporting events and other activities. But he says he’s also seen a lot of unique potential customers surfacing. “There are a lot of neat ideas -- interesting and unique entertainment venues that never had video,” he says. “People with specific, eclectic interests that didn’t realize they could do it.”
 
BoxCast has grown to 12 employees and Daily is looking for an administrative person to help around the office. To accommodate the growth, BoxCast recently moved into a 4,000-square-foot office at Burke Lakefront Airport.

 
Source: Gordon Daily
Writer: Karin Connelly
clinic gets world's most powerful mri to 'see things you've never seen'
After more than a two year wait and construction of its very own building, the Cleveland Clinic took delivery of and installed an A-7 Tesla full-body MRI on Friday. It is the only one of its kind in Northeast Ohio, and one of only about a dozen in the country.
 
While the 1.5 Tesla MRI is more common, and the Clinic even has several 3 Tesla MRIs, the 7 Tesla provides a better look, even down to the cellular level. “It has special resolution where we can actually see much finer detail than a 3 Tesla or 1.5 Tesla,” says Mark Lowe, director of high field MRI at the Clinic. “With this higher special resolution you can see things you’ve never seen before.”
 
The MRI will be used for neuroscience research into disorders such a multiple sclerosis and Alzheimer’s. The finer detail will allow researchers to see focal dysplasia in epilepsy patients, or greater vascular detail in angiography. The acquisition of the new machine created two new jobs, with the potential for more future jobs with grant funding.
 
“The bottom line is, for years MRI has been very good at imaging soft tissue contrast, but it’s not as good in spatial resolution,” says Lowe. “This provides that spatial resolution.”
 
It was no easy task to get the 40-ton machine to Cleveland. Lowe and his team secured funding for the $10.5 million endeavor two and a half years ago. It was scheduled for delivery in December. But a shortage of helium, which is used to cool the MRI magnet, caused further delays.
 
The 7 Tesla is housed in a specially constructed building next to the Mellen Center for Multiple Sclerosis. The roof was lifted off the building to lower the MRI into place, which also comes with 350 miles of superconducting wire.

 
Source: Mark Lowe
Writer: Karin Connelly
new tool helps onshift customers comply with affordable care act
OnShift, which produces staff scheduling software for the healthcare and senior living industries, recently made new additions to its software to comply with Affordable Care Act (ACA) requirements. The ACA, which goes into effect in 2014, puts penalties on companies that mismanage employee’s part-time and full-time hours. OnShift’s new predictive analytics helps employers keep better track of employees’ hours.
 
“Labor is the number-one operating expense for employers,” explains OnShift CEO Mark Woodka. “Companies have to really understand what is full-time and what is part-time. If they don’t, they may accidentally assign someone too much work and part-time becomes full-time, which leads to penalties and additional coverage requirements under the ACA.”
 
The upgrade is free to existing OnShift customers. “Our commitment to our customers is to keep them current about impending legislation,” says Woodka.
 
Business is booming for OnShift because of the new updates to its systems and the ACA requirements. “We’ve already won some business because of this and we think it will be a trigger event for other customers,’ says Woodka. “We’re having a great year and we’re growing like gangbusters.”
 
Woodka predicts OnShift will hire 10 to 15 new employees this year. The company has already added three positions this year and currently has five open in positions in everything from customer service to developers.

 
Source: Mark Woodka
Writer: Karin Connelly
toa gets largest ever vc-backed investment in an ohio-based software company
Palo Alto-based Technology Crossover Ventures (TCV) recently invested $66 million in Beachwood-based TOA Technologies, the largest ever venture-backed investment in an Ohio software company and the fourth largest of its kind in the nation last year.

TOA, which provides on-demand mobile workforce management solutions, began looking for investors about a year ago as part of its long-term growth plan. “We were looking at our ability to meet the opportunity ahead of us,” explains John Opdycke, vice president of worldwide marketing for TOA. “More and more companies are looking to manage their mobile employees, and more and more companies are depending on mobile employees to be the face of the company. Now we’re better prepared for rapid growth.”
 
In January TOA executives began talking to several investment firms. TOA had TCV on their short list, and TCV was looking for investment opportunities in the mobile workforce management industry. Founded in 2003, TOA has steadily grown. Prior to TCV’s investment, TOA announced its cumulative annual contract value had increased 444 percent from 2008 to 2012 and doubled its customers from 2011 to 2012. Additionally, the company developed strategic partnerships and successfully launched a new product, ETAdirect Professional.
 
The investment will go toward all aspects of the business, Opdycke says, including R&D, marketing and hiring. “Department heads are already talking about their hiring plans,” he says. TOA has 56 employees in Cleveland and expects to expand to 80 by the end of the year. Globally, TOA expects to increase employees from 450 to 600. “We’ll have an immediate uptick in the next six months and that will probably continue into 2013.”
 
Additionally, Opdycke sees the investment as good for Northeast Ohio. “It’s great to see a big VC looking outside Silicon Valley for investments,” he says. “We are more than happy to carry the light for other companies to look for investments outside the region. Such an infusion of cash in Northeast Ohio shows these things can happen in our part of the country.”
 

Source: John Opdycke
Writer: Karin Connelly
athersys drug could 'change the way we do transplants'
Researchers have found that the Athersys stem cell product, MultiStem, has been effective in preventing rejection in organ transplant patients. The drug might someday eliminate the need for transplant recipients to take a life-long regime of immunosuppressant drugs that have potentially detrimental side effects.

Athersys has been developing MultiStem for the past six to eight years. The company developed the drug from human stem cells harvested from adult bone marrow. Potentially millions of doses of MultiStem can be created from one donor.
 
Researchers found that when MultiStem was used in animal heart transplants, permanent organ acceptance was achieved without the need for long-term immunosuppressants. Researchers in Germany are now moving into human trials with liver transplant patients using MultiStem and short-term immunosuppressants.
 
“This is pretty important for the field of transplantation,” says Athersys president and COO B.J. Lehmann. “Using MultiStem just after transplant allows the body to recognize the organ its own. If we can do this in humans it will change the way to do transplants today.”
 
MultiStem has proven effective in treatments for heart attacks, strokes and graft versus host disease. “This is just another example of the effect MultiStem therapy has,” says Lehmann. “Our goal is to develop cell therapy in areas where there is substantial need. We wanted to change the game, and this is a perfect example.”

 
Source: B.J. Lehmann
Writer: Karin Connelly
 
workadvance exceeds enrollment goal for employment training program
WorkAdvance, a national program that provides low-income and low-skilled individuals with employment training, in conjunction with Towards Employment, a Cuyahoga County-based employment readiness agency, and seven other collaborators, has enrolled 465 local participants in its training program.

Enrollment began in June. The participants are receiving skills training and career services in manufacturing and healthcare. Rebecca Kusner, director of WorkAdvance, says two-thirds of the Cuyahoga County participants are from Cleveland.
 
The WorkAdvance program is part of a study to show that low-skill and low-income people with barriers to employment can meet companies’ needs if they are offered coordinated skills training and career coaching. “Often, people get GED services, but not technical training,” says Kusner. “WorkAdvance puts together all the services people need to not only get a job, but continue along a career pathway so they don’t end up back on public assistance.”
 
Northeast Ohio is one of four sites nationwide in the study. The program operates through federal funding from the Social Innovation Fund and under a local investment from the Fund for Our Economic Future.
 
Manufacturing and health care are two areas most in need of trained workers, Kusner says. “We talked to employers in both fields and asked them where they feel the pain,” she explains, adding that qualified welders were particularly in demand in Northeast Ohio.
 
Participants received training at places like Tri-C, Lincoln Electric, and Lakeland Community College. Kusner reports that 30 percent of those participants in jobs after training have already received wage increases.
 

Source: Rebecca Kusner
Writer: Karin Connelly
give camp 2013 to help 18 nonprofits with free tech work
The fourth annual Cleveland Give Camp will be held this weekend on the LeanDog boat by Burke Lakefront Airport. Organizers are expecting 200 volunteers to turn out from Friday, July 19 to Sunday, July 21 to help 18 chosen non-profits with their software and web-based application projects.
 
In addition to the developers, project managers, designers, creative professionals and other techies, volunteers do everything from making sure everyone is well fed to cleaning up. “Each project team leader, project manager... Every single person who works on Give Camp is a volunteer,” explains spokesperson Amy Wong. “It’s a way for people with a unique set of skills to give back.”
 
But the people involved in Give Camp, many who come back year after year, also have fun. Many pitch tents for the weekend, while others simply go without sleeping. The event is also a great techie networking opportunity.
 
“It’s fun, you get to spend the weekend on the lake with a great view,” says Wong. “You meet a lot of great people you never met before and hang with some really smart people. People get sucked in by the non-profits they work with.”
 
Some of the non-profits receiving help on their projects this year include the Free Clinic, LAND Studio, Malachi House and the May Dugan Center. In addition to LeanDog and Burke hosting the event, 12 additional companies sponsor Give Camp. Some of the top sponsors include Arras Keathley, Explorys, JumpStart and Hyland Software.

“We’re really grateful to all of our sponsors,” says Wong. “They give us everything. They feed us breakfast, lunch and dinner and a special treat on Saturday night.”
 

Source: Amy Wong
Writer: Karin Connelly 
researchers find a way to restore bladder function in rats with spinal cord injuries
Researchers at CWRU School of Medicine and the Cleveland Clinic Lerner Research Institute have discovered a way to restore bladder function in rats with severe spinal cord injuries. Jerry Silver, professor of neurosciences at CWRU School of Medicine, and Yu-Shang Lee, assistant staff scientist in the Cleveland Clinic’s Lerner Research Institute, paired a traditional nerve bridge graft with scar degrading and growth factor treatments to grow new nerve cells. 

The neural bridge spans the gap between the severed sections of the spinal cord -- from the thoracic region to the lower spinal cord. The new nerve cells regrew in the bridge, which allowed the rats to regain bladder control. 
 
“It’s exciting news for us,” says Lee, who has been working on this research for the past 10 years. He cites a bladder control survey in which spinal cord injury patients ranked bladder control in the top two most important concerns -- higher than motor or sensory function. “It’s new hope for future treatments.”

The team’s work was detailed in the June 26 issue of the Journal of Neuroscience. Lee and Silver plan to test their method on larger animals before moving on to human trials in a few years. Silver and Lee hope their research will ultimately result in restoration of bodily functions in paralyzed humans.

 
Source: Yu-Shang Lee
Writer: Karin Connelly
discover my cleveland gives visitors an in-depth look at the city
Lynde Vespoli has a background in the tourism industry. When she started hearing about projects like the Global Center for Health Innovation, the Cleveland Convention Center and the Horseshoe Casino, as well as plans to host the National Senior Games this summer and the Gay Games next, Vespoli decided to put her talents in destination management to work.
 
Last November Vespoli started Discover My Cleveland, a Destination Management Company. “Think of it as a one-stop shop for events and meeting planners who are coming to Cleveland,” Vespoli says. “With all of the events coming to Cleveland, we needed a company to assist groups full-time.”
 
Discover My Cleveland provides group tours of Cleveland attractions and landmarks, such as city bus tours and historical walking tours. Vespoli can tell visitors, and locals, all about the Daniel Burnham Group Plan, the 1903 plan that includes the public buildings on The Mall.
 
For the National Senior Games, Vespoli has organized some unique tours for the 11,000 athletes and 12,000 spectators expected. Group tours include everything from a visit to Amish country to a Beer and Bourbon tour, to a tour of Cleveland’s sacred landmarks.
 
These tours, which run daily from July 21 to July 28, are open to the general public as well. In fact, Vespoli encourages Clevelanders to join the tours and act as ambassadors. “It’s a neat way for people to do these things, but also mingle with the athletes,” she says.
 
Vespoli employs eight tour guides on a contract basis. She says she is always looking for additional guides, who have to learn a script and be able to direct a bus driver with their backs to the window.
 
Vespoli has some other groups lined up for her tours, and only expects business to increase. “”When people start to realize how affordable Cleveland is and how nice we are, they’ll start coming back,” she predicts. “This is a very exciting time for Cleveland and I’m excited to be a part of it.”

 
Source: Lynde Vespoli
Writer: Karin Connelly
bluebridge networks announces $6m tech investment, plans to double staff
BlueBridge Networks isn’t trying to be the biggest cloud-based data storage and recovery company; the Cleveland-based company simply wants to be the best for its customers. To ensure that it is, BlueBridge recently announced a $6 million investment in technology to build the best network and facilities possible.

“We are controlling our own destiny,” explains managing director and partner Kevin Goodman. “We’re building our network to be cheaper, better and faster. Over time, the $6 million will be about time, talent and treasure.”
 
The three key players at BlueBridge -- Goodman, CFO Phillip Weihe, and director of operations Petar Bojovic -- sat down and made a plan for strategic growth that includes hardware and software improvements, updates to facilities and hiring the right people to make it all happen.
 
“The three of us strategically put together what we have to do to build it better,” says Goodman. “It’s a terrific time for us. Our focus has always been the next step. We always look at operational excellence, but we’re also always poised for growth.”
 
Pat Garcia, associate partner of technology at Rosetta, one of BlueBridge’s long-term customers, backs up Goodman’s mission to be the best provider to its customers. “We’ve really had a good experience with their response time,” Garcia says. “They are service oriented and all about customers and getting things done right.”
 
In addition to its Cleveland headquarters, Bluebridge has data centers in Mayfield Heights, Columbus and, more recently, Grand Rapids, Michigan. Goodman says the centers are all located on the line of the technology telecom track and centrally located. The bulk of the investment will be in the Cleveland headquarters, Goodman says, where the majority of the cloud platform is located. The new and improved platform is called bCloud2.0.
 
BlueBridge currently has 14 employees and 30 contractors. Goodman says they plan to bring on 15 additional people this year, and already are hiring people from all over the country.

 
Source: Kevin Goodman
Writer: Karin Connelly
knowta exceeds goal for follow-on funding, will improve and expand
Knowta recently raised more than $300,000 in angel investments, exceeding its goal of $250,000 to roll out the next phase of its software solution. The LaunchHouse company offers free or discounted printing at libraries in exchange for accepting advertising on the bottom of the printed pages. A percentage of the revenue generated from the full-color ads is then returned to the libraries to offset their costs.
 
Initially, founder Ryan Clark and his four partners tested Knowta’s usability at CWRU’s Kelvin Smith Library during the 2012-2013 school year. They looked at three factors: Would library patrons use the service; would it work well in the university environment and provide value to the university; and would it deliver desirable results to advertisers. “We got an affirmative response on all three,” says Clark.
 
The next step is to improve upon the software. Clark says the investments, 90 percent of which came from individual Northeast Ohio investors, will be used to roll out the next phase. “There are a number of features we want to add to make it more attractive to our advertisers and make it more robust,” he says. “We’re excited about it. We’ve received tremendous feedback from users at Case.”
 
Knowta currently is in talks with five other universities in Northeast Ohio, and Clark says they are open to talking to any school that is interested in their product. Their goal is to secure five to six new schools this year.
 
Knowta currently has 25 advertisers in a range of industries, most of them local. Clark’s goal is to tap into the national market. The most popular ads are for the food and beverage industry.
 
Knowta has two full time employees, one paid intern and uses four to five contractors to build out the second phase of software development. The company plans to hire a lead developer/solution architect by the end of the year.

 
Source: Ryan Clark
Writer: Karin Connelly
bizdom and launchhouse team up accelerator programs for region's gain
Both Bizdom and LaunchHouse received hundreds of entrepreneurs applying for their respective accelerator programs this year. LaunchHouse received a record 115 applications for 10 spots in its 2013 LHX accelerator program, while Bizdom already has seen more than 100 applications this year from all over the country.

Both organizations each received $200,000 from Ohio’s New Entrepreneurs (ONE) Fund earlier this year. So, Bizdom and LaunchHouse decided to collaborate in investing in 20 technology startups this year.
 
"We feel it is important to collaborate with every organization that is helping to revitalize the region and LaunchHouse is certainly one of these organizations,” says Bizdom leader Paul Allen. “When we found out that Shaker LaunchHouse had also received ONE Fund support for its accelerator we reached out to see how we could closely collaborate to optimize the experience for all founders and to show the startup community that we are coordinated in our efforts.”
 
The organizations plan to share mentoring sessions, jointly host classes and open up their office spaces to each other’s entrepreneurs. “We have a strong network, and so does Bizdom,” says LaunchHouse CEO Todd Goldstein. “So why not collaborate to build a successful business community in Northeast Ohio?”
 
The whole idea is to foster the growth of Northeast Ohio as a hotbed for startups and a place that supports entrepreneurs. “Really, we are about the accelerator and the entrepreneurs working together to build a great community,” says Goldstein. “We’re not on an island by ourselves. We’re all out to build successful entrepreneurs in Northeast Ohio.”
 
Allen agrees that the collaboration will help the entrepreneurs as well as continue to attract startups from outside the region. “Participants will be able to socialize with a greater number of peers and hopefully they will be able to learn from one another,” he says. “Collaboration strengthens the Northeast Ohio entrepreneurial community because it gives us an opportunity to articulate a consistent and more powerful message within and outside the region about the opportunities and resources that exist here."

 
Sources: Paul Allen, Todd Goldstein
Writer: Karin Connelly
crowdentials takes the legwork out of equity crowdfunding compliance
As an entrepreneurship/business management senior at Ohio University, and the president of the school’s Entrepreneurship Club, Richard Rodman has started two successful companies during his studies. Most recently, he noticed the need for some guidance in the crowdfunding trend.

So Rodman first started 530Funds in November 2012, a search engine and news site for the crowdfunding industry. “It was really hard to sift through Google to find the right platform,” he says.

But Rodman quickly realized the real need was in helping users navigate the forthcoming SEC regulations on equity crowdfunding and make sure they are compliant while raising money for their cause. Individuals, investors and crowdfunding platforms must comply with these regulations.
 
That’s when Rodman came up with Crowdentials. “Crowdentials is regulatory software for the rules SEC has created,” he explains. “It’s a simple web form -- kind of like TurboTax -- where you can cross-reference to see if you comply.”
 
Crowdentials helps take the legwork out of fundraising. Through the site and one form, investors, businesses and crowdfunding platforms ensure they are in compliance while raising money or investing in a new company. “We take care of compliance; you take care of business,” says Rodman says. “Businesses shouldn’t have to waste their time researching all the regulations.”
 
Crowdentials was accepted into the inaugural FlashStarts program, run by Charles Stack and Jennifer Neundorfer, this summer. Rodman says there was an “instant connection” in the interview process. “I think it’s going to do a lot,” he says of the program, adding that he enjoys working with the mentors and interns on hand and bouncing ideas off the other entrepreneurial teams.
 
Rodman has two partners.

 
Source: Richard Rodman
Writer: Karin Connelly
zuga medical receives fda approval, jumpstart investment for dental implant system
Zuga Medical, a medical device company, recently received a $250,000 investment from JumpStart to launch its dental implant system. In April Zuga received FDA approval for its system, which allows a general dentist to perform implants using a screw, a procedure previously done only by oral surgeons.
 
“Our patent-pending technology makes it simpler, easier and more cost-effective for both the dentist and the patient,” says Zuga CEO Steve Cornelius, who met the company’s founder and CSO, Chan Wang, a year-and-a-half ago through BioEnterprise and joined the board of directors. He then became CEO. With 15 years of experience in the dental industry, Cornelius was intrigued with Wang’s product. “Chan had a vision of making things simple for general dentistry.”
 
Zuga will use the JumpStart investment to conduct a soft launch with eight to nine local dentists. Those dentists will take a training course on placing the implants next month. “We’re using the local soft launch in Cleveland to prove out our business model and raise the next round of investments,” Cornelius says. “Our vision is to create a dental company right here in Cleveland.”
 
As Zuga grows, Cornelius hopes to hire three to four sales reps, a marketing person and a customer service rep by the end of the year.
 
Zuga Medical has also received investments from the Cuyahoga County North Coast Opportunities Fund and the Innovation Fund.

 
Source: Steve Cornelius
Writer: Karin Connelly