Innovation Fund Northeast Ohio will host a free event at the Akron Global Business Accelerator to encourage area startups to apply
The Innovation Fund Northeast Ohio, the region’s most active pre-seed fund for technology startups, is heading to Akron to encourage area entrepreneurs to apply for funding. The fund is partnering with the Akron Global Business Accelerator to host a free informational event on November 17th for entrepreneurs to learn about the fund, get advice on applying, and understand funding requirements.
“Any entrepreneur interested in applying to Innovation Fund Northeast Ohio should attend this event,” says Cliff Reynolds, co-director of GLIDE, the technology incubator that administers the fund. “Startup founders will get to know the fund and get answers to questions they didn’t even know they had.”
Attendees will hear many of those answers from recent Innovation Fund Northeast Ohio award winner, Daniel Kurt of Revenue Conduit. Kurt’s company, Revenue Conduit, won a $100,000 award in November 2015.
“After bootstrapping our company for several years, the Innovation Fund Northeast Ohio money gave us a critical boost as we prepared to raise capital from investors. “ Kurt says.
Six months after winning the Innovation Fund Northeast Ohio award, Kurt has raised $250,000 from JumpStart.
“Innovation Fund investments play an important role in helping seed-stage companies like Revenue Conduit bridge a funding gap before they can raise larger institutional investment from investors like JumpStart,” says Hardik Desai, principal of investments at JumpStart.
“The Innovation Fund is highly competitive and the fact that Revenue Conduit was able to secure their support helped to validate the company’s growth prospects.”
Kurt will talk about his experience moving through the Innovation Fund Northeast Ohio application process, sharing what he learned and his advice for future applicants. He’ll also talk about being a client of the Akron Global Business Accelerator, where he’s received helpful advice, resources, and quality office space at a great price.
As CEO of the Akron Global Business Accelerator, Dr. Anthony Margida has been a part of Akron’s growing startup scene for more than a decade and plans to keep the momentum going as more Akron entrepreneurs become ready for the Innovation Fund.
“We’re working hard to find and support technology startups in our area and part of that work includes making certain that when our portfolio companies are ready for funding, they know where to go and how to increase their chances of success,” Margida says. “We are lucky to have this Lorain County based funding source available to entrepreneurs across all of Northeast Ohio. And I want Akron’s entrepreneurs well represented within the Innovation Fund portfolio.”
Innovation Fund Northeast Ohio was founded by the Lorain County community College Foundation in 2007 and has awarded $11.38 million to 172 companies. Those companies have raised $258 million in follow-on funding and created more than 670 jobs in Northeast Ohio.
Learn more about the fund at on Thursday, November 17th from 1 to 3pm at the Akron Global Business Accelerator. After the event, which includes light refreshments, entrepreneurs can tour the accelerator. Register today.