Scalerator NEO Seeks Growth-Driven Companies for 4th Cohort
Northeast Ohio companies with $5 million - $15 million in sales and a desire to grow are encouraged to apply as soon as possible for the fourth cohort of the Scalerator® NEO program, as spaces are limited. This intensive, six-month program is a proven classroom and peer-to-peer learning experience that has helped over 200 companies in the United States and around the world achieve significant, top-line growth including 40 in Northeast Ohio. The 2020 program will run April - October in Akron at Bounce Innovation Hub.
Fourteen companies from five Northeast Ohio counties completed the third cohort of Scalerator NEO in October 2019, representing a cross-section of the region’s business communities, with a mix of manufacturers, construction, IT, distribution, and service providers. Participating companies in cohort 3 included:
AtNetPlus, Inc. - Stow
Bennett Adelson Professional Services - Independence
Evergreen Industrial Batteries - Valley View
Excelas, LLC - Highland Heights
Gent Machine - Cleveland
Great Work Employment Services - Akron
I2r Power - Canton
InsightFuel - Macedonia
Kent Adhesive Products (KAPCO) - Kent
Martindale Electric - Lakewood
Metis Construction Services - Kent
Noble-Davis Consulting, Inc. - Solon
Recognition Robotics, Inc. - Eyria
SAF, Inc. - Akron
Every company in the cohort has experienced some level of growth since beginning the program in April 2019, either through increasing sales to existing customers, securing new contracts, or hiring additional staff members. Companies that completed the third cohort expect to have an average revenue over $11 million and a mean number of full-time employees of 31 for 2019.
Participants reflected on the impact Scalerator has had on their growth since completing the program. Rich Gent, Co-owner of Gent Machine said, “The Scalerator program has been huge for us, we learned so much in the last six months. It’s helped us change our culture, helped us hire the right people, and helped us increase our sales.”
Since beginning the Scalerator NEO program in April of 2019, Julie Brandle, President/Founder of Metis Construction reported her company experienced revenue growth and hired six new employees.
Upon completing the six-month program, Simon Melikian, President & CEO of Recognition Robotics, shared that his company has experienced a 15-20% increase in revenue. He and his team learned critical aspects of how to really run the business as a business and recommends Scalerator for every business that wants to grow.
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. The non-profit, EDGE, 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. Applications are reviewed on a rolling basis, and up to 20 companies will be seated to participate in the fourth cohort beginning in April 2020.
The online application and information about the program are available at ScaleratorNEO.org. Apply by March 1.