“By bringing early stage startups to campus and surrounding them with teams of motivated students who are eager to help and learn, the EDC@NDC will create the ultimate win-win scenario—and at no cost to the entrepreneurs.”
The EDC@NDC sets out a three-year plan at the end of which student interns will work and learn side-by-side with commercial and social entrepreneurs to help successfully start, scale and sustain business ventures—and contribute to the economic development of Northeast Ohio.
The EDC@NDC is already supporting new startups and helping to launch new business ventures.
Over a dozen community partners and startup accelerators, including Jumpstart, Bizdom and FlashStarts, have pledged to refer clients to the EDC@NDC. The center already has launched and is supporting half a dozen new business ventures, including Tap.in2 and Go Baller.
The Student Venture Fund at the College, also known as NDC Shark Tank, a chapter of the Northeast Ohio Student Venture Fund (NEOSVF), won $50,000 in startup funds for two high-tech companies it selected for support: GiveNext LCC and Tap.in2. Both venture funds are partners of the EDC@NDC.
In collaboration with EDC@NDC, the College’s entrepreneurship club along with the biology and business departments has partnered with SEA Change and Rust Belt Riders, a sustainable waste removal company in support of community gardens to launch a revenue-generating, campus-based composting business, called Campus Composters.
Once a startup is started up, the company generally needs to grow and diversify, at least eventually, to stay in business.
Through the EDC@NDC, support for startups and small businesses provided primarily by student interns is likely to include business model and planning support to accounting and bookkeeping to help the fledgling companies scale operations and enjoy early success.
As students involved with the EDC@NDC make personal and professional connections within the local entrepreneurship community, a greater percentage of them are likely to pursue careers in Northeast Ohio—by either starting their own businesses or joining existing, growing enterprises—after graduation.
They not only will help sustain the economy and the EDC@NDC itself through their successes but also will have contributed, while students, to other startups staying in business long term.