< Previous78 OHIO BUSINESS GROWTH GUIDE how artificial intelligence can enhance every aspect of how the university operates. According to an April 2024 announcement, Case Western Reserve and Microsoft signed a Memorandum of Understanding to integrate the company’s AI platforms across the university’s curriculum, research and administrative functions. For CWRU Office of Research and Technology Management Senior Vice President for Research Michael Oakes, AI is a key tool future generations will pursue for greater understanding. “Classes as diverse as art history and electro-chemistry will integrate AI into inquiry and practice, with the best professors leveraging AI to spur even greater curiosity into mysteries and opportunities,” says Oakes. “AI will also transform the prosaic operations of universities, including rote navigation of curricula to administrative processing of research compliance and grant-writing. The hope is that AI is appreciated as yet another tool for enhancing positive impact and does not become a crutch or master that diminishes flourishing.” Utilization of Microsoft’s Azure AI platform and Copilot AI-powered chat tool will aid the collaboration in creating advanced AI curriculum, provide workforce skills training, advance the university’s productivity and will be used to host research project activity. Immediate integration will start with CWRU’s Weatherhead School of Management Executive Education program, which will soon release a series of generative AI courses. Less than 48 hours after this news, the U.S. Department of Defense awarded the University a $2.75 million grant aimed to revolutionize how we can save a life. Whether it be on or off the battlefield, the seconds to minutes of rapid blood loss as a result of severe injuries are critical. A vital component of how our bodies produce protective blood clots lies in the generation of fibrin proteins. Fruitful research conducted by CWRU Biomedical Engineering Professor Anirban Sen Gupta and his team led to the development of a technology that replicates a platelet’s ability to begin this process. At the same time, research out of North Carolina State University and University of North Carolina yields a technology that copies the biomechanical property of platelets to bind to fibrin and stabilize a clot. Over the next four years this influx of grant funding will be used to combine the two technologies into a single injectable nanotechnology. Yes, a single product that removes barriers associated with time, resources and location. Once this nanotechnology is created it will enter a traumatic injury model at the University of Pittsburgh to test its viability. For STEM students here, the opportunity to serve as a research assistant on an innovative projects such as these and gain the experience of the processes behind discovery and new technological advancement can be life-changing. Stepping outside of a classroom and actively learning alongside established agencies, companies, scientists and researchers allows students to mold their understanding in real-time, unpredictable circumstances. “President Eric W. Kaler is correct in saying there is no great city without a great research university,” says Oakes. “The work of CWRU is to educate, discover, and catalyze innovation. The ultimate metric of success is positive impact in Northeast Ohio and beyond.” Photo courtesy of The Ohio State UniversityOHIO BUSINESS GROWTH GUIDE 79 mall businesses are the backbone of a strong economy. From mom-and- pop shops to parts and service providers, they fuel local ecosystems, serving as vendors, partners, employers and customers to larger companies and the overall community. With the ability to influence both quality of life and industry networks, small businesses play a fundamental role in taking local economies to the next level. Peppered with bustling metropolitans such as Columbus, Cincinnati, Cleveland and Dayton, and micropolitans such as Findlay, Sidney and Greenville, Ohio knows what it takes to cultivate a growth- friendly environment. This fervor isn’t limited to larger locations — JobsOhio is dedicated to spreading this success to each and every community in the Buckeye State. Recognizing the benefits small businesses bring to the table, increasing the support and resources available for companies in smaller communities and minority groups continues to be a priority for the JobsOhio team. In 2020, as part of the state’s Small Business & Community Development Strategy, the organization introduced the JobsOhio Small Business Grant program, giving eligible projects in qualifying communities the opportunity to access up to $50,000 in grant funding. This program is designed to support small to medium-sized businesses located in qualified SMALL BUSINESS & COMMUNITIES by LINDSAY LOPP S DIVERSE BUSINESSES DRIVE DEVELOPMENT Letha and Wendy Pugh, the owners of gluten-free bakery Bake Me Happy in Columbus, Ohio. Since 2020, more than 480 small to medium-sized businesses have received funding from the JobsOhio Small Business Grant program. Photo courtesy of JobsOhio80 OHIO BUSINESS GROWTH GUIDE communities or are owned by underrepresented populations, such as minorities, women, veterans and people with disabilities. It is estimated that around 2.2 million people, 19% of the state’s population, live in eligible areas. To qualify for funding, a company must also be affiliated with at least one of the following target industries: Advanced Manufacturing, Aerospace & Aviation, Automotive, Energy & Chemicals, Financial Services, Food & Agribusiness, Healthcare, Logistics & Distribution, and Technology. Over 480 companies have received funding, contributing to nearly $200 million in new investment across the state and creating over 2,500 jobs as well as retaining more than 8,000 existing positions. For many of the recipients, this support was a lifeline, opening doors that were otherwise shut. Transforming Goals into Growth When River Roasters Coffee Company co-founders Larry and Candice Hess were expanding their company with a new building in Meigs County, receiving a Small Business Grant removed roadblocks that would have halted their dream of reaching a wider audience. “Our company was going to have to get a lower-cost coffee roaster after the facility was developed and it would’ve required way more man hours and general cost to operations just to keep up with our own café,” said Larry Hess in a press release. “This would’ve also hindered our hopes of being able to wholesale our products as we would be too busy roasting coffee to keep up with our coffee shop.” With the $50,000 River Roasters was awarded, Larry and Candice were able to purchase a state-of- the-art commercial coffee roaster as well as additional operational equipment for roasting, storing River Roasters Coffee Company received a $50,000 JobsOhio Small Business Grant in 2021. Photo courtesy of TourismOhioOHIO BUSINESS GROWTH GUIDE 81 and wholesaling coffee, fulfilling their goal of supplying restaurants, groceries and other coffee shops with their products. “Small businesses play a vital role in the economic vitality of rural communities. By supporting these enterprises, the JobsOhio Small Business Grant helps create job opportunities, stimulate local spending, and boost overall economic growth,” said Larry Hess. Skills for Success Through JobsOhio’s wealth of resources for entrepreneurs, Ariane Kirkpatrick has been able to help her company reach its truest potential. Her minority- and women-owned construction company, The AKA Team, was awarded a $50,000 Small Business Grant that allowed Kirkpatrick to relocate her booming business to a space more suited to its needs. Prior to receiving the award, The AKA Team had secured multiple major contracts with local leading institutions such as Sherwin Williams, Cleveland Clinic and MetroHealth. With these opportunities in hand, the company quickly outgrew the small office it occupied but was unable to access to capital to fund the move on its own. JobsOhio and its partners at TeamNEO, Northeast Ohio’s designated economic development organization, helped the company secure the funding it needed to renovate and move to a funding a larger location in a historic building downtown. Following the relocation, The AKA Team was able to hire 20 new employees, bringing its total number of workers to over 80. In addition to finding financial support through JobsOhio, Kirkpatrick, like many entrepreneurs, was able to access business training as well and is a graduate of the Goldman Sachs 10,000 Small Businesses program, a free education program providing small business owners with practical skills to take their business to the next level. In May 2023, JobsOhio and Goldman Sachs partnered to promote this program in Ohio. Over 13,600 businesses throughout the country have graduated from the Goldman Sachs 10,000 Small Businesses program, including over 1,000 from the Buckeye State. Just six months after completing the program, 66% of alumni report increases in revenues, and 44% report creating new jobs. Cuyahoga Community College, Columbus State Community College, Cincinnati State Technical and Community College, and Sinclair Community College are among the several community and technical colleges selected across the state to host the courses, which will cover topics such as finances, negotiations and marketing. “This new partnership between JobsOhio and Goldman Sachs 10,000 Small Businesses provides the opportunities and resources essential in ensuring continued growth for small businesses across the state,” said Ohio Lt. Governor Jon Husted in a statement. “Small businesses are vital to Ohio’s economy and setting them up for success is a critical part of helping our local communities thrive.” “ Small businesses play a vital role in the economic vitality of rural communities. ” — Larry Hess, River Roasters Coffee Company Co-Founder82 OHIO BUSINESS GROWTH GUIDE INNOVATION STRATEGY A THE NEW LAND OF OPPORTUNITY lifesaving image is one worth capturing. When top management at Quality Electrodynamics (QED) and the Cleveland Clinic Hillcrest Hospital informed Dr. Hiroyuki Fujita of issues faced when utilizing current imaging technology, he knew the only way out was through. But, not without some innovative collaboration. In 2006 Dr. Fujita founded his Ohio-based magnetic resonance imaging (MRI) technology company QED, which just 13 years later became a subsidiary of Canon, Inc. Today, he still acts as CEO of QED, and as of 2020, additionally serves as Chair of Cleveland Clinic Hillcrest Hospital’s Board of Trustees. As conversations swirled around how to address future technological needs, he had imaging expertise in mind. Canon was fresh off the heels of establishing its new health care subsidiary, Canon Healthcare USA, Inc., in Mayfi eld, Ohio, in 2023. The offi cial announcement noted “potential synergy with the Cleveland Innovation District was one factor that attracted Canon,” not knowing the perfect opportunity would arise faster than anticipated. Canon soon joined forces with Cleveland Clinic with plans to introduce a new comprehensive imaging research center, bringing new advancements to the heart of the Cleveland Innovation District. The establishment of this facility on Cleveland Clinic’s main campus will look to draw in local and global research collaborations to work alongside a team of clinician scientists, researchers and engineers. “Cleveland has a long history of medical innovation and is the home to leading medical institutes such as Cleveland Clinic and University Hospitals,” says Canon spokesperson Ryan Herling. “Cleveland is close to other regions that have led medical innovation, such as Boston, New York and Chicago. Canon has had a historical presence in Cleveland through its Canon Medical Research USA, INC. (CMRU) and Quality Electrodynamics (QED), allowing us to leverage our long-established presence in the region.” Cardiology, neurology and musculoskeletal medicine serve as the main imaging technology focus, looking to enrich a patient’s experience with diagnosis, care and outcome. R&D eff orts target non- invasive imaging and health care IT technology for pre-clinical by ALEXIS ELMOREOHIO BUSINESS GROWTH GUIDE 83 imaging, human imaging and image analysis. “We plan to conduct research on all of Canon’s imaging modalities, including CT, MRI, ultrasound and X-rays,” says Herling. “The research content will be determined after discussions with Cleveland Clinic. Under Canon’s ‘Made for Life’ philosophy and Cleveland Clinic’s ‘Patients First’ principle, we are dedicated to improving the well-being of people around the world through our innovations in technology.” From Concept to Fruitful Innovation It’ll be worth keeping an eye on the innovative healthcare technology research taking place on Cleveland Clinic’s campus moving forward, thanks to a fresh batch of new companies equipped with new-age knowledge that can only be accessed in Ohio. The new initiative joins the activity surrounding IBM’s Quantum System One, which launched in May 2023. It’s the world’s fi rst quantum computer for biomedical and health research, harnessing quantum mechanics to solve problems where current supercomputers falter. Innovation begets further innovation, which is why the inaugural Cleveland Clinic Quantum Innovation Catalyzer Program is leveraging this asset to spark life in early and growth stage startup companies. In April 2024, following a competitive selection process, a number of companies were announced as the fi rst to begin the 24-week program. Unlike any startup program available in the world, these participants can conduct individualized research with access to IBM’s Quantum System One, work alongside the clinic’s base of clinicians and investigators, attend any number of educational program off erings and network with investors and ecosystem partners. Access to Quantum System One also aff ords the opportunity to collaborate with and learn from the research team within the Cleveland Clinic-IBM Discovery Accelerator. The 10-year partnership focuses on an array projects across four categories — education and research, quantum computing, accelerated discovery and digital health — aiming to revolutionize how AI and quantum computing can impact the development of new technologies and treatments. “Through the Discovery Accelerator, Cleveland Clinic and our partners at IBM are exploring quantum computing’s vast potential to transform medicine, from drug Image: Getty Images (continued on page 86)86 OHIO BUSINESS GROWTH GUIDE discovery to digital health and biomarker analysis,” said Cleveland Clinic Chief Research Information Officer Lara Jehi. “We look forward to welcoming the first class of startups to our new Cleveland Clinic Quantum Innovation Catalyzer Program and helping them to leverage quantum to make breakthroughs in health care as we grow an ecosystem of advanced computation for health care and life sciences.” What’s Next? The collaborations taking place across Innovation Districts in Columbus, Cleveland and Cincinnati are indicative of the network of support that exists throughout Ohio. Entrepreneurs and innovators at any stage of development don’t have to search far to find the resources needed to grow their capabilities. JobsOhio’s Network of seven regional economic development partners — Dayton Development Coalition, Lake to River Economic Development, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team Northeastern Ohio (NEO)— work together to ensure any venture is a successful one. But one size does not fit all when it comes to operating a business. Based on individualized site, infrastructure, talent and funding needs, a company can streamline its exploration of the state and what each region can offer through this tightknit network. The addition of the Lake to River Economic Development team in April 2024 cemented the final missing piece of the JobsOhio network. This region, encompassing eastern Ohio counties Ashtabula, Columbiana, Mahoning and Trumbull, plus Pennsylvania’s Mercer County, adds a competitive workforce edge, supported by its cluster of leading state institutions, like Youngstown State University. “Today, we welcome the Lake to River team to join Team Ohio as our seventh and final JobsOhio network partner,” said JobsOhio President and CEO J.P. Nauseef as he welcomed the new team. “Since 2011, JobsOhio and Team NEO have been building momentum for the region, which has led to more than $6 billion in capital investment; we are eager to get to work with our new partners to continue building a bright future for the valley.” The goal? Get innovators off the ground and bolster further growth. One avenue early-stage companies can explore through each regional network partner is obtaining a JobsOhio Growth Capital Fund investment. For companies looking for their start in the state, the co-investment fund caters to candidates with a lead investor looking to raise a Series A or later round of funding within Ohio’s target sectors. The program offers a 1:1 investment match to the lead investor’s committed amount and can take up to 20% of the current investment round as a sidecar investment. IBM and the Cleveland Clinic are sharing the strengths of Quantum System One through a new program. Photo courtesy of IBM (continued from page 83)The program has produced a roster of innovative companies now operating throughout the state, including Amify, Centerline Biomedical, eFuse, Orthobrain and Vantage Robotics. As long-established companies such as Honda, J.M. Smucker and Bullet Ultrasonics look to foster R&D across leading state industries such as automotive, food and beverage and advanced manufacturing, having a central location to gather innovators is vital to Ohio’s economic development playbook. Much like the health care innovation activity surrounding the Cleveland Innovation District, JobsOhio is set to aid the development of new R&D centers. With $100 million in hand, the R&D Center Grant Program awards funding to corporates with more than five years of operating experience and over $10 million annual revenue to establish a new R&D facility. To qualify, the project must represent at least $3 million in new cash investment and use funding to cultivate fresh industry-driven research, software development and development of new technologies. Funding will last the course of five years and must result in the creation of at least five new jobs. New project investment in the state over the past decade shows that when industry leading companies are looking to advance their potential, Ohio holds the recipe for success. Next >