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Measuring glucose levels in saliva

NanoBio Systems
How NanoBio Systems is using Desich SMART Commercialization Center equipment and the help of LCCC interns to commercialize its technology

To measure glucose levels, those with diabetes must suffer the frequent – and painful – finger pricks required of most home monitors.

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A winning partnership

Nordson SMART partnership
Work with SMART Microsystems yields big wins for Nordson – and the region

Nordson Corp.’s Lorain County roots run deep.

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Success in 3-D

As additive manufacturing explodes, MakerGear gets spark from LCCC’s Fab Lab

In the early days of 3-D printing, MakerGear founder Rick Pollack bootstrapped a small business making components in his Shaker Heights garage.

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Cracking cybersecurity: What businesses need to know

As cyber criminals become increasingly sophisticated, digital crime has grown at an alarming rate, motivating businesses of all sizes to strengthen their cybersecurity protocols and hire new talent.

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How a startup becomes a scale-up

Jim Walborn of Banyan Technology
Cliff Reynolds of GLIDE

All successful companies start as an idea, but at some point, that idea has to generate sales if the business is to succeed.

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Mastering business fundamentals for startup growth

Watch Simon on WKYC

With a doctorate in engineering from Case Western Reserve University, Simon Melikian knew a lot about building technology when he founded Recognition Robotics.

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The One Question Every Entrepreneur Should Answer

I was in Tuscaloosa, Alabama visiting my mother-in-law a few weekends ago.  One of the things I always do while I’m there is visit the University of Alabama. That got me thinking about the entrepreneurship space. 

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Why Startups Should Always be Raising Money

Money makes startups fast.

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A Reality Check for Your Startup Expectations

As you begin your journey as an entrepreneur what are your expectations? If you’re like many new entrepreneurs, you’re probably thinking you have a great idea for a new business. You assume you’ll dedicate your time and talents to your startup for the next year or two, get it to positive cash flow in three years, and in five years you will be in control of your destiny. You’ll be in charge of a profitable business venture with opportunities to either grow it or sell it.

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5 Mistakes Startups Make when Negotiating License Agreements

Negotiating a license agreement is hard, especially when you’re the small, young company in the deal. Here are the top five mistakes startups make when negotiating.

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Dreaming of an Acquisition? Here’s How to Prepare

Simon of Recognition Robotics2

You’ve made it as an entrepreneur. Your startup has positive cash flow, proven growth, and a strong management team. What’s next? No problem, you say. Just sell the company for big bucks. Easier said than done. Here are the things you need to think about before considering acquisition.

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The Rules of Startup Financials

Applying for funding when you're a cash strapped entrepreneur can be stressful. Developing the financials for your business can bring on additional stress, but it doesn't have to. As long as you have a well thought out business plan, doing the financials to go with it is just a matter of putting the dollars to the business tasks. Here are my seven rules of effective startup financials.

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How Startups Should Approach Doing Financials

How startups should approach doing their financials

"Wait, I have to do financials for my business?!" That's what many entrepreneurs shriek as perspiration rolls down their foreheads when they're told three or five year pro-forma financials are needed for their business when applying to the Innovation Fund. That's closely followed by, "How am I supposed to do that? I'm an entrepreneur, not an accountant." In all honesty, when asked to write this blog I shrieked, "But I'm a numbers person. I don't write!" It took a bit to calm me down, but I realized I do know about financials and I have written before, so I could do this. Hopefully, your panic will subside or at least diminish and be replaced by some degree of confidence after reading this blog.

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Top Ways Startups Can Make their Money Last

If you’re running a startup I’ve got one important bit of advice: you will never have enough funding. You will (and should) always be looking for your next source of funds. Well, maybe never is a bit over the top, but never is a good benchmark during the first five years of any startup.

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Here's $100,000. How Much of Your Company Do I Get?

students and startups blog

It's a valid question. Your innovation is going to require money in order to advance from development to commercial launch. Whether your total capital needs are $3 million or $30 million, the needed money can trickle in via smaller increments or in tranches of millions of dollars—depending on how you ultimately structure your funding request. But, independent of such incremental amounts, you must establish and validate a valuation for your business. In other words, how much of your company (i.e., stock or ownership) will an investor get for their investment?

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Why Every Startup Needs a Task and Timeline

Sample Development Path

An embryo seems to miraculously mature through layers of development. Cellular differentiation, a forming spinal column, organ development, and more, are all necessary for a healthy, vital birth. Just as the developing fetus goes through a myriad of maturation steps, your innovation and your company must proceed methodically through multiple tasks. But this business procession is no miracle—it’s plain old work. I would say the adage, “plan your work, and work your plan” is invaluable advice—provided that your plan is well constructed.

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Inventor’s Syndrome: The Symptoms and the Cure

A Case of Inventor's Syndrome
Chart

Can you diagnose these symptoms? The subject has conceived of a novel innovation that he or she believes is so important it will soon become a staple product across the globe. The inventor thinks its features and benefits solve a problem facing the world. However, our inventor has never queried anyone beyond him or herself and a few friends.

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An Entrepreneur’s Guide to Patent Infringement Research

How likely are you to obtain a patent for your invention? If you made and sold it right now, would you be infringing someone else’s patent? Researching the patent databases will help you answer these questions and give you a good idea about whether your innovation is already described or claimed by others.

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Why Having a Patent Doesn't Guarantee Startup Success

IP. Many of us have heard that commonly used abbreviation “intellectual property.” IP includes patents, trade secrets, trademarks and copyrights. If you have an innovative idea that could, some day help people or solve a real world problem, then being a little versed in IP, especially patents, could be very important.

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Five Things to Address if You Want to Get Your Technology to Market

Hardly a week goes by that I don’t hear about an entrepreneur’s new service or product. If you’re one of those innovators toying with such a technology right now, then you must deal with some very critical realities. In fact, I would boil those realities down to five basic elements.

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