By davey.crain, Director of Entrepreneurial Services, MAGNET We are happy to announce that The Incubator at MAGNET’s second annual MPAcT funding competition was completed recently, with four grant funding awards made. Offered for the first time in 2012, the MAGNET Product Acceleration & Technical Assistance Grant program (MPAcT) is a strategic entrepreneurial acceleration program whereby promising early stage, high-growth technology companies in Northeast Ohio, working in collaboration with MAGNET, can receive small targeted grants that will help the company overcome some technical design or engineering hurdle that stands between them and follow-on investment or commercial success of their product or production process. The program awards up to $30,000 per recipient with the following four main goals: Accelerate the introduction of new technology products or processes; Accelerate time to market or full adoption of technology; Create new employment opportunities within Northeast Ohio; and Reduce barriers to follow-on investment. For MPAct’s second edition we saw slightly fewer applications, but with a much higher quality and all the companies and presentations were very well done. In the end, four companies were chosen to receive funds: Folio Photonics, a Case spinout and new Incubator tenant, is using off-the-shelf components and proprietary technology to
Many U.S. manufacturers are reinventing themselves through new leadership, new strategies, and new support systems, regaining competitiveness — along with profits and jobs — lost during a decade of outsourcing and downsizing. The 2013 Next Generation Manufacturing Study will outline how successful manufacturers are creating new value by identifying the top performances and best practices necessary for world-class status in the 21st century. The Next Generation Manufacturing (NGM) Study provides small- and medium-sized manufacturers an opportunity to compare themselves to similar manufacturers in key strategic areas. Manufacturing executives are invited to complete a free, quick and confidential online survey. Respondents are not required to share financial information. There are options to participate anonymously or confidentially, or to download a PDF of the survey, and snail mail it to the study organizers. Find out about the benchmarks "scorecard" and other benefits available to manufacturers who contribute to this national survey. Visit: www.NGMStudy.com before August 29th to complete the 2013 NGM Survey.
On June 25, more than 50 manufacturers attended a briefing at MAGNET’s Manufacturing Innovation Center near downtown Cleveland to learn about the 2013 Manufacturing Innovation Project (MIP). Following on from the successful 2012 MIP, this year’s program once again offers small and medium-size manufacturers the chance to review their engineering challenges with top subject-matter experts at the NASA Glenn Research Center. In addition, the City of Cleveland and Cuyahoga County have again made available the option for MIP participants to obtain optional low-cost loans to cover related expenses. More than 50 manufacturers attended the June 25 briefing session to learn more about the MAGNET/NASA Manufacturing Innovation Project. Manufacturers interested in applying for the second round of the Manufacturing Innovation Project must be located in the City of Cleveland or Cuyahoga County. To apply, manufacturers should visit the MIP’s online application web site where they can find complete details. The deadline to apply is August 7, 2013. The selected winners will be announced in September.