Introducing the New Scalerator NEO Cohort
Thirteen Second Stage Companies Ready to Scale Up in 2024
We are excited to announce the launch of the eighth cohort of Scalerator NEO, an educational program aimed at Northeast Ohio leadership teams seeking to deliver immediate growth to their second stage businesses. Thirteen companies from eight counties were selected for participation.
Each of the companies in the six-month Scalerator cohort, which began in January, has sales between $3 million and $15 million. Five participating companies are minority and/or women-owned, comprising a diverse cohort from a number of counties that will provide fertile ground for a successful scaleup experience.
Collectively, the eighth cohort represents over 505 full-time employees and more than $70 million in annual revenue. The following participating companies are poised to play a pivotal role in strengthening our region’s economy and its entrepreneurial community:
- Benchmark Craftsmen, Inc. – Seville
- Concept Manufacturing LLC – Ashland
- DECA Manufacturing – Lexington
- DigitalC – Cleveland
- Dunaway, Inc. – Canfield
- EarthQuaker Devices – Akron
- Innovation Food Services – Twinsburg
- McSteen Land Surveyors – Wickliffe
- North Coast Seal, Inc. – Brook Park
- Rimeco Products, Inc. – Willoughby
- Simple Solutions Learning, Inc. – Beachwood
- Vinson – Akron
- Young & Associates, Inc. – Kent
Morgan Foundation also congratulates the 2023 cohort of Scalerator NEO, which celebrated its program completion and achievements at a graduation celebration in early January. The class of twelve companies represents over 450 full-time employees and more than $80 million in revenue:
- Bula Forge & Machine, Inc. – Cleveland
- Consolidus, LLC – Akron
- DEM Manufacturing – Newbury
- Epiphany Management – Akron
- Flexlink LLC– Cleveland
- FMD Architects, Inc. – Fairlawn
- Golden Standard Enterprises – Cleveland
- Packaging Tech LLC – Cleveland
- Point to Point – Cleveland
- PorchLight Apartment Rental Service LLC – Stow
- Providence House, Inc. – Cleveland
- Valley City Supply – Medina
Since 2017, 84 Northeast Ohio companies have successfully completed the Scalerator program. With a focus on the 3 Cs of growth (Customers, Capacity, and Cash), Scalerator boasts impressive results, with 75% of participating companies increasing their growth by 25% or more following the completion of the program. Graduates have formed a dedicated alumni network, which is a valuable resource for new participants.
Recent graduate Consolidus LLC shared, “In 2023, we experienced a 20% growth rate and secured 23 new corporate contracts. This progress is paving the way for an expected revenue increase of $6M in 2024. Thanks to these accomplishments, we have positioned ourselves in the top 1% of our industry in annual revenue. Additionally, we were recognized as a 'Top Distributor' by ASI, the national association in our field.”
Scalerator® was developed by Daniel Isenberg, CEO of Entrepreneurship Policy Advisors and former Harvard Business School professor. More than 400 companies have participated in Scalerator to date across the globe, with former cohorts taking place in Northeast Ohio, Milwaukee, Manizales, Atlantic Canada, Rio de Janeiro and Trinidad and Tobago. Isenberg leads the program with the support of three other faculty members: Elaine Eisenman, Kevin Mulcahy, and Tim Marken. Together, these faculty members comprise over a century of experience growing real companies, and each is a celebrated educator with experience teaching at Harvard, Babson, Columbia, and other leading business schools.
The cost to attend and all program expenses are covered by Burton D. Morgan Foundation and the Fasenmyer Fund, reflecting their commitment to entrepreneurial education and business growth in Northeast Ohio.
Burton D. Morgan Foundation partners with EDGE powered by MAGNET to administer the Scalerator NEO program.
To learn more about Scalerator NEO, contact Brittany Bush at bbush@manufacturingsuccess.org.