Scalerator NEO seeks diverse growth-driven companies for cohort
NORTHEAST, OHIO — Applications for the 2021 cohort of Scalerator NEO are currently open to companies with sales between $5 million and $15 million and a desire to grow their businesses. Companies from all sectors are encouraged to apply, as a diverse cohort has proven to provide the most fertile ground for a successful Scalerator experience.
Cohort four participants are already reporting remarkable results, even amidst the current pandemic. “We issued three letters of intent in one week in order to increase the likelihood to build three new locations in 2021,” shared Scalerator participant Brian Krusz of Sgt. Clean’s Car Wash.
Julian Lamb, president of Paragon Robotics and another company in the 2020 cohort, shared this story of growth during his team’s experience in Scalerator NEO: “We won an $8 million contract with the Department of Health and Human Services for a high-profile contract to monitor the U.S. nerve agent antidote stockpile… [It] will create 14 additional full-time positions for at least the next five years.”
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. With a focus on the three “Cs” of growth (customers, capacity and cash), Scalerator touts impressive results, with 75% of participating companies increasing their growth by 25% or more following the program.
Scalerator® was developed by Daniel Isenberg, founding director of the Babson College Entrepreneurship Ecosystem Project. Over 400 companies have participated in Scalerator to date, with previous cohorts taking place in Northeast Ohio, Milwaukee, Manizales (Colombia) and Rio de Janeiro (Brazil).
Scalerator NEO is supported by Burton D. Morgan Foundation and the Fasenmyer Fund, established at 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. EDGE, a non-profit economic development organization focused on innovation and entrepreneurship in Northeast Ohio, serves as the administrator of the program. Funds from Morgan Foundation and Fasenmyer Fund cover the costs associated with Scalerator NEO, and there are no fees charged to participating companies.
The 2021 Scalerator NEO cohort will run from March to September and will be delivered virtually. For more information on how to apply for the next Scalerator NEO cohort, visit ScaleratorNEO.org or contact Brittany Bush at Brittany@edgef.org.
Founded in 1967 by visionary entrepreneur and philanthropist Burt Morgan, the mission of Burton D. Morgan Foundation is to champion the entrepreneurial spirit, contribute to a robust entrepreneurial ecosystem, and serve as a leader in the field of entrepreneurship education. Morgan Foundation pursues its mission through grantmaking in support of Youth, Collegiate, and Adult Entrepreneurship; through regional ecosystem building to provide strong networks for startups and scaleups; and through knowledge sharing bolstered by its research arm, the Entrepreneurship Education Experiment. To find out more, visit www.bdmorganfdn.org.
Founded in 2005, EDGE is a 501(c)(3) nonprofit economic development organization that helps mid-sized companies in Northeast Ohio achieve profitable growth by accelerating the exchange of knowledge and experience among CEOs and leadership teams. EDGE provides its members with an invaluable opportunity to develop their leaders, grow their company and improve Northeast Ohio through programs, services and events geared specifically for them. Visit www.edgef.org.