December 18, 2014: The Great Lakes Innovation and Development Enterprise (GLIDE), a comprehensive regional innovation center, resource hub and business incubator, was among 11 Ohio incubators to receive funding from the 2014 Ohio Third Frontier Incubation Program. GLIDE received $350,000 to continue providing Northeast Ohio technology-based startups with entrepreneurial support services, including business assistance, incubator space and access to capital.
"This is terrific news for Lorain County and the region," said Dr. Roy Church, president of Lorain County Community College. "The College, the Lorain County Commissioners and the Lorain County Chamber of Commerce started this program in 2001 to help grow more technology based companies in Lorain County. Today, with ongoing support from the State of Ohio—as demonstrated by this funding— GLIDE has grown steadily to its position as one of the first places entrepreneurs across Northeast Ohio visit for help in starting their new businesses."
GLIDE is well-known for its open door approach to business assistance, focusing on the business development process, rather than specific technologies, to ensure that any entrepreneur has a place to go for assessment, advice and direction. In its 12-year history, GLIDE has worked with over 2,800 companies, converted 150 to tenant clients, and assisted those clients to increase their revenues to more than $89 million and secure add-on investments of over $109 million.
Its incubator tenants have access to resources beyond typical business amenities because of GLIDE's location on the Lorain County Community College campus, including technology service and support, workforce development guidance, market research and internship programs. And starting next month, GLIDE is launching a new tenant program that accommodates the dynamic needs of startups.
"Beginning in January every new tenant in the GLIDE incubator will be eligible for a free six-week business training and accelerator program using cutting-edge concepts in business development," said Dennis Cocco, co-director of GLIDE. "We piloted this program in late 2013 and the results have been outstanding, with our companies learning new tools to gain traction in the market with their business idea."
Beyond its direct services, GLIDE is helping Lorain County residents protect their business ideas through Lorain County Community College's newly launched Office of Community Technology Transfer. GLIDE provided input and support in developing the technology transfer office, which assists innovative thinkers in Northeast Ohio with the patenting and commercialization process, with the ultimate goal of turning ideas into job-creating companies.
GLIDE was formed by a partnership between Lorain County Community College, the Lorain County Commissioners and the Lorain County Chamber of Commerce. It became an Edison Technology Incubator in 2006. This new grant now incorporates GLIDE into the Ohio Third Frontier program.