Northeast Ohio companies with $5 million to $15 million in sales and a desire to grow are encouraged to apply for the fourth cohort of the Scalerator® NEO program, the intensive six-month program is a proven classroom and peer-to-peer learning experience that has helped more than two hundred companies in the United States and around the world achieve significant top-line growth, including forty in Northeast Ohio. The 2020 program will run from April through October in Akron at the Bounce Innovation Hub.
Fourteen companies from five Northeast Ohio counties completed the third cohort of Scalerator NEO in October 2019, representing a mix of manufacturers, construction, IT, distribution, and service providers. Participating companies in cohort 3 included AtNetPlus, Inc. (Stow), Bennett Adelson Professional Services (Independence), Evergreen Industrial Batteries (Valley View), Excelas, LLC (Highland Heights), Gent Machine (Cleveland), Great Work Employment Services (Akron), I2r Power (Canton), InsightFuel (Macedonia), Kent Adhesive Products (Kent), Martindale Electric (Lakewood), Metis Construction Services (Kent), Noble-Davis Consulting, Inc. (Solon), Recognition Robotics (Eyria), and SAF, Inc. (Akron).
Every company in the cohort has experienced some level of growth since beginning the program in April 2019, either through increased sales to existing customers, securing new contracts, or hiring additional staff members. Companies that completed the third cohort expect to have an average revenue of more than $11 million and a mean number of full-time employees of thirty-one for 2019.
Scalerator NEO is supported by the Burton D. Morgan Foundation and the Fasenmyer Fund (established at the Morgan Foundation by the former Richard J. Fasenmyer Foundation), a collaboration committed to supporting entrepreneurship and free enterprise in Northeast Ohio through targeted educational opportunities. The nonprofit EDGE serves as the administrator of the program. Funds from the Morgan Foundation and the Fasenmyer Fund cover the costs associated with Scalerator NEO, and there are no fees charged to participating companies.
Applications are due by March 1 and will be reviewed on a rolling basis, with up to twenty companies selected to participate in the fourth cohort beginning in April.