Cliff ReynoldsDennis Cocco

February 28, 2008

Partnership between Lorain County Community College, Lorain County Commissioners, Lorain County Chamber of Commerce, and Ohio Department of Development

Ohio’s only Edison Technology Incubator on a two-year college campus

Partner in Regional Economic Development Priorities

Focus: To support and grow entrepreneurs and companies to create and retain good jobs in Northeast Ohio

Great Lakes Innovation and Great Lakes Innovation and Development EnterpriseDevelopment Enterprise

LORAIN COUNTY CHAMBER OF COMMERCE

LORAIN COUNTY CHAMBER OF COMMERCE

LORAIN COUNTYCOMMUNITY

COLLEGE

LORAIN COUNTYCOMMUNITY

COLLEGELORAIN COUNTYCOMMISSIONERSLORAIN COUNTYCOMMISSIONERS

STATE OF OHIOSTATE OF OHIO

GLIDE PartnershipGLIDE Partnership

GLIDE - GLIDE - Formation & HistoryFormation & History

Concept Developed – October 2000

Funded locally – March 2001

Founded – May 2001

First Clients – January 2002

Edison State Technology Incubator – March 2006

Comprehensive Business Comprehensive Business Support System across the Support System across the

Innovation ContinuumInnovation Continuum

“We wrap effective business structures around great ideas”

CREATE SUPPORT

A-Ha Sustainable

Proof of Concept

Exploration Validation GrowthOperations

Start-Up Development Confirmation

JOBSJOBS

Innovation ContinuumInnovation Continuum

“Front Door” for entrepreneurs

No wrong door policy

Support for all entrepreneurs with focus on technology oriented businesses

Referral to appropriate resources

Great Lakes Innovation and Great Lakes Innovation and Development EnterpriseDevelopment Enterprise

Viability of Business Review Business Structure Review Pro-Forma Financials Review Business Plan

Output = Strengths/Weaknesses

Business Assessment Process - FreeBusiness Assessment Process - Free

Advanced Growth Services - FeeAdvanced Growth Services - Fee Business Visioning and Strategic Planning Entrepreneur and Business Start-up Governance and

Support Mergers and Acquisition Counsel for Small Businesses Family Business Institute

Great Lakes Innovation and Great Lakes Innovation and Development EnterpriseDevelopment Enterprise

• If a technology-based company has a strong chance of success, we explore their becoming a GLIDE company

• 5 Steps in the GLIDE process:

• Business assessment

• GLIDE client – Wireless Environment

• Co-locate – Vasolux

• Rent– EIC – Banyan Technology, Clear Image Technology

• Build – Great Lakes Technology Park – Equity Trust

• GLIDE is unusual from all other Edison incubators in:

• Co-located and Non-Located

• Pay rent with jobs [1=12 months; 2=18 months]

Great Lakes Innovation and Great Lakes Innovation and Development EnterpriseDevelopment Enterprise

GLIDE - ProgressGLIDE - Progress

Entrepreneurs Touched >700

Businesses Advised >150

Businesses Coached for longer than 6 months

30

Independent Businesses Graduated 8

Total Revenue Growth of Client Companies

>$43 million

Jobs Created by Client Companies >475

Average Salary of Jobs Created $35,000

Total Add-on Investment $ > 20 million

Assessed Assisted Resources Total % Change from Prior Yr

Technology Based 93* 10 11 114 247

Other 74** 13 17 104 113

Total 167 23 28 218 157

2006

Assessed Assisted Resources Total  

Technology Based 37 7 2 46  

Other 75 3 14 92  

Total 112 10 16 138  

2007

Glide Entrepreneurial Assistance Performance Glide Entrepreneurial Assistance Performance Calendar 2007 verses Calendar 2006 Calendar 2007 verses Calendar 2006

Ohio Thomas Edison Technology Incubators:

GLIDE (Lorain County)

MAGNET (Cleveland)

Akron Global Business Accelerator

Braintree (Mansfield)

Youngstown Business Incubator

Northeast Ohio Incubator Northeast Ohio Incubator CollaborativeCollaborative No borders...no boundaries...no barriers...

Lorain County: Lorain County: A Key Partner in A Key Partner in Regional Economic GrowthRegional Economic Growth

GLIDE (Great Lakes Innovation & Development Enterprise)

MAGNET, JUMPSTART, & BIOENTERPRISE

AKRON INDUSTRIAL INCUBATOR

YOUNGSTOWN BUSINESS INCUBATOR

BRAINTREE PARTNERS

NORTHEAST OHIO ENTREPRENEURIAL COLLABORATIVE*

*Collaborative led by NORTECH

Economic Results - Economic Results - NEOinc Portfolio (FY05-07)NEOinc Portfolio (FY05-07)

$231 Million —Total Sales Revenue

$79 Million —Total Investment

681— Jobs Created

$90 Million —Total Payroll

39 — Patents Issued

102:1 — Leverage on Edison Funding*

* (Sales Revenue + Investment)/Edison Funding

Equity Capital ContinuumEquity Capital Continuum

A-Ha Sustainable

Proof of Concept

Exploration Validation Growth Operations

Start-Up Development Re-Position

VentureCapitalFunds

Seed/AngelInvestors

A-Ha Sustainable

Proof of Concept

Exploration Validation Growth Operations

Start-Up Development Re-Position

VentureCapitalFunds

Seed/AngelInvestorsGAP

Equity Capital ContinuumEquity Capital Continuum

A-Ha Sustainable

Proof of Concept

Exploration Validation Growth Operations

Start-Up Development Re-Position

VentureCapitalFunds

Seed/AngelInvestors

LCCC FoundationInnovation

Fund

Equity Capital ContinuumEquity Capital Continuum

Regionally focused

Unique fund in USA

– Philanthropic - contributions are charitable

– Educational component

No match for proof-of-concept

Dollar-for-dollar match for start-up

Up to $100,000

Associated with GLIDE

Awards are given quarterly

Application available on line

Proof-of-Concept/Proof-of-Concept/Start-up CapitalStart-up Capital

15 applicants evaluated

Awarded $225,000

Successful Companies:

– Vasolux -$100,000

– Wireless Environment -$100,000

– Nanomemetics -$25,000

Second cycle applications being assessed

First Cycle of Funding CompletedFirst Cycle of Funding Completed