MAGNET has revealed the names of six entrepreneurs, startups, and small manufacturers who will receive an array of services and connections through the second-annual [M]SPIRE pitch competition.
Announced in late July, the winners span many different areas, backgrounds, and industries. Over 40 applications were received from individuals and companies across Northeast Ohio, including submissions from Cleveland, Youngstown, Akron, Elyria, Lorain, and Canton.
“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 the funding and resources necessary for success in the long-term,” said MAGNET President and CEO Ethan Karp.
Sponsored by Bank of America, AT&T, and Jumpstart, the submission period was held through the month of May. 11 finalists were selected to meet with an expert panel of judges comprising area entrepreneurs, engineers, consultants, and more. The six winners will receive varying types of assistances from MAGNET and MAGNET partners, including grant funding, product development, market research, and specialized consulting services.
These winners include:
Holmes Mouthwatering Applesauce – a local manufacturer of 100%, all-natural applesauce Karis Doll Collection – a line of dolls that aims to help young girls adapt to diverse, non-traditional family arrangements SmartMulch – an innovative landscaping solution that’s lightweight, easy to transport, and cuts down on waste Cleveland Sewing Solutions – provides fashionable, adaptive clothing for seniors and other individuals facing physical challenges Storm Mountain Coffee – French-press coffee on an industrial scale for use in restaurants and coffee shops Peaceful Fruits – fruit snacks using wild, sustainable ingredients ethically harvested from the Amazon
“[M]SPIRE 2017 was a huge success,” said Brandon Cornuke, Vice President of Startup Services at MAGNET. “Our six winners demonstrate the breadth of Northeast Ohio manufacturing. We have consumer goods, food products, clothing, and mulch, and our winners come from all backgrounds. We’re excited to help these businesses grow and have already started working with each of them.”
MAGNET is currently planning to launch [M]SPIRE 2018 in the spring.
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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