Cleveland State University's Nance College of Business Administration and Shaker LaunchHouse have teamed up to encourage the regions entrepreneurs to follow their dreams.

The agreement was adopted at a special meeting of the Shaker City Council on March 14, after recommendation by the Shaker Heights Economic Development Department.

One of the first endeavors the two have launched is the 2011 Idea Competition. The contest is open to students at any Ohio college or university with an innovative business idea. Ideas should focus on software and Internet technology, low-tech medical devices, and clean energy.

"We really want to get the juices flowing of entrepreneurs in the region," says Shaker LaunchHouse managing partner Todd Goldstein. "We believe it's extremely important to provide an outlet for good ideas."

The winner gets a $2,500 scholarship to the Nance's global AMBA program and $1,000 from LaunchHouse, including incubation space, legal support, accounting support, and business planning assistance. The winner will have the chance to compete for $5,000 in seed funding.

Entry forms are due by noon on Monday, April 25. Finalists will then give a two-minute pitch to a panel of entrepreneurs and venture capitalists at Shaker LaunchHouse on Thursday, May 5. SLH will be offering educational seminars for the contestants to help them with their presentations.


Source: Todd Goldstein
Writer: Karin Connelly