MAGNET names winners of [M]SPIRE pitch competition
MAGNET is pleased to announce the names of nine entrepreneurs, startups, and small manufacturers who will receive an array of services and connections through the inaugural [M]SPIRE pitch competition!
The finalists were announced Wednesday, Oct. 19 at the third-annual [M]POWER Manufacturing Assembly, a full-day event for manufacturers sponsored by MAGNET, Crain’s Cleveland Business, and the Cleveland Engineering Society.
“Entrepreneurship is an essential and irreplaceable component of Northeast Ohio manufacturing, and MAGNET is thrilled to help these individuals and small companies achieve their potential by connecting them to funding and resources necessary for success in the long term,” said MAGNET President and CEO Ethan Karp.
The winners, who represent the diversity of Northeast Ohio in terms of geography, age, gender, race, and socioeconomic status, will receive varying types of assistance from MAGNET and MAGNET partners, including grant funding, product development, market research, and specialized consulting services.
Applicants selected include:
PolyLux LLC – University of Akron spinoff company developing a no-stick bandage that will revolutionize the medical adhesives industry.
Parihug – Case Western Reserve University students who aspire to manufacture electronically-connected teddy bears that allow loved ones to connect from a distance.
FoodBuggy – Shaker Heights entrepreneur Ron Nelson has created small, self-contained mobile units (“food buggies”) for chefs and food service providers that are more flexible and cost-effective than traditional food trucks.
Fire Spice Co. – A new business headed by Cleveland chef Doug Katz (of Fire Food & Drink) that produces high-caliber spice blends for home cooking.
DesignFlux Technologies – Akron-based company whose product, Congnicell, eliminates the need for power inverters, improving energy efficiency and battery management for original equipment manufacturers (OEMs).
RVS Rubber Solutions – Aurora-based startup currently refining a technological process for recycling rubber in industrial environments, potentially eliminating the current waste of over 100 million pounds of tires annually.
StudioStick – Cleveland State University student Brandyn Armstrong has created a device that transforms smartphones into high-quality, portable recording studio.
Yeu Patch – Cleveland-based company producing a unique solution enables anyone to temporarily patch a road’s potholes in a quick, cheap, and efficient manner.
Terves – This Euclid-based small manufacturing company is currently developing new technology that will improve the creation of products and components made from magnesium.
Launched in August with a deadline of Sept. 30, [M]SPIRE serves as MAGNET’s first-ever online pitch competition dedicated to helping entrepreneurs in the Northeast Ohio region. Over 70 submissions were evaluated by a panel of judges with various positions in manufacturing, including individuals from MAGNET, Jumpstart, Economic Community Development Institute (ECDI), Entrepreneurs EDGE, and other organizations.
Applications were assessed based on growth potential, existing business plans, and other factors.
One remarkable thing about the list is that it rarely changes. The order may change but the top cited standards typically don’t change. Top 10 Sited Safety and Health Violations: 501 - Fall Protection 1200 - Hazard Communication 451 - Scaffolding 134 - Respiratory Protection 147 - Lockout/Tagout 178 - Powered Industrial Trucks 1053 - Ladders 305 - Electrical, Wiring Methods 212 - Machine Guarding 303 - Electrical, General Requirements Three of the 10 sited standards are directed at the construction standard (1926) while other fall within the general industry (1910). It should be noted however that the general industry standard also has fall protection guidelines. Year after year, inspectors see the same on-the-job hazards, any one of which could result in a fatality or severe injury. More than 4,500 workers are killed on the job every year, and approximately 3 million are injured. By understanding these regulations you can improve your safety program and prevent injuries. Give me a call if you have any compliance doubts, or want to review OHSA regulations. Gwido Dlugopolsky at 216-391-7766 or firstname.lastname@example.org
Why does it take a NASCAR pit crew only 15 seconds to change four car tires when it takes people like you and me minutes? The answer is simple SMED. Single Minute Exchange of Dies, or SMED, is a process for reducing the time it takes to do equipment changeovers. Using the principles of SMED you should be able to perform any changeover in your facility in under 10 minutes! The SMED process is simple – convert as many changeover steps as possible to “external”, meaning they are done while your equipment is still RUNNING, while simplifying and streamlining the remaining steps. SMED is broken down into the following 3 Steps: Separate Convert Streamline We found this article to be very helping in explaining the SMED process in more detail: LEAN PRODUCTION - SMED A good first step to achieve this level of SMED efficiency would be to run a kaizen event at your facility to standardize (5S) your tools and supplies. Doing this alone will help you achieve 40% to 50% greater efficiency. Once the “low hanging fruit” is gone, you can still reduce setup times another 20% by practicing more advanced SMED principles.
The secret to closing any sale is to reduce uncertainty in the buyer and replace it with confidence in YOU, your PRODUCT/SERVICE, and your COMPANY. Step 1 – Confidence in YOU Someone buying from you wants to be able to fundamentally connect with you on a human level and feel confident that you’re an expert in what you’re selling If you’re selling paperclips, be an expert in paperclips If you’re selling design and engineering related services, be an expert in design and engineering related services Focus on addressing the problem, not the solution….MEANING you already know you have the solution, connect with the buyer by being an expert with the problem he/she is facing. Prove that you know the problem and all aspects of the problem like the back of your hand. Step 2- Confidence in the PRODUCT/SERVICE you are selling Someone buying from you needs to trust the product/service you are selling will solve their problem. It’s your responsibility to deliver a solution and the benefits associated with it. Basically you need to “Hit a Homerun” communicating this message. Tip – Use Success Stories: Share with the potential buyer examples of your product/service solving problems and delivering value for