HUDSON The initial cohort of the Scalerator NEO program, co-funded by Burton D. Morgan Foundation and Richard J. Fasenmyer Foundation, launched April 20. Scalerator NEO is a six-month, cohort-based educational program for entrepreneurs and leaders who want to deliver immediate growth to their businesses and are open to learning new ways to achieve this goal.
Scalerator was developed by Daniel Isenberg, founding director of the Babson College Entrepreneurship Ecosystem Project. Over 100 companies have participated in Scalerator to date, with previous cohorts taking place in Milwaukee, Manizales (Colombia) and Rio de Janeiro (Brazil). The Scalerator curriculum, focused on the 3 Cs of growth Customers, Capacity and Cash has helped companies from diverse industries and sectors grow; many increasing by 25 percent or more following the program. The target profile for the initial cohort of Scalerator NEO was companies between $5 million and $15 million in sales and a desire to grow their businesses. Companies from all sectors were encouraged to apply, as a diverse cohort of companies has proven to provide the most fertile ground for a successful Scalerator experience.
Sixteen Northeast Ohio companies will participate in the first cohort of Scalerator NEO. The participants include manufacturers, service businesses, and tech companies from Cuyahoga, Geauga, Portage, Stark, Summit, and Wayne counties. The businesses average roughly $7 million in sales and 50 employees. Cohort members include: Cleveland Steel Tool, Eagle Elastomer, Inc., Harrison Paint Company, Heat Seal, LLC, Hotcards, HyperProductive, JDD, Inc., JMI Reports, Inc., Mojonnier Limited, Montville Plastics and Rubber, NobleTek, One Wish, LLC, PreEmptive Solutions, Sarah Day Care Centers, Inc., Terves, Inc. and The Technology House.