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Lorain County Community College is Winning the Future for High-Growth Entrepreneurs 0

Posted on February 22, 2011 by bp complaints

Northeast Ohio has staked its future on high-growth entrepreneurship.  That’s why today, President Obama is bringing five Cabinet secretaries and his top economic advisors to Cleveland for a White House Winning the Future Forum on Small Business.  In special sessions on high-growth entrepreneurship, access to capital, workforce development, boosting exports, and cleantech innovation, they’ll hear entrepreneurs from across the region address the real challenges and opportunities facing small and growing businesses every day. 

One of these companies is ABSMaterials, based in Wooster, Ohio.  It developed and patented super-absorbent material called “Osorb” that soaks up organic contaminants like a sponge.  This innovative, reusable technology can help clean up oil spills, polluted waterways, and contaminated drinking water.  In just the last two years, ABSMaterials has brought this technology from a novel idea to a revenue-generating product.  The company has raised .5 million from private investors, and is creating jobs.

The growth of ABSMaterials did not happen in a vacuum.  Northeast Ohio has spent well over a decade growing the kind of entrepreneurial ecosystem that allows innovative startups to thrive.  Some of the growth capital for ABSMaterials came from JumpStart, a regional economic development network that’s been so successful, it recently announced that it will be scaling the model across the country—a major private-sector commitment to U.S. entrepreneurship in response to the President’s Startup America call to action.

Today, Lorain County Community College (LCCC) is also making a bold commitment under the banner of Startup America.  It is transforming its Innovation Fund from a local success story in Elyria, Ohio, into a national phenomenon:  Innovation Fund America.

Here’s how the model works:  The Innovation Fund makes small but crucial grants to local high-tech startups like ABSMaterials, allowing them to prove their technology and raise money from private investors.  Philanthropic contributions to the fund are tax-deductible, because the startups agree to educate the next generation of entrepreneurs through student internships. 

It’s a quadruple-win:  Donors can see their dollars go to work toward high-impact, high-growth local economic development; innovative startups get seed capital when they need it most; community college students get hands-on experience at an entrepreneurial high-tech company; and the region gets new jobs.  (It bears repeating that the overwhelming majority of net new jobs come from startups.) 

So far, LCCC’s Innovation Fund has awarded .3 million to 60 companies, rapidly creating 100 new jobs, attracting million in additional private investment, and sponsoring 130 student entrepreneurship internships.  Starting today, LCCC will help other community colleges across the country replicate this model, as part of the Virtual Incubator Network, a project of the American Association of Community Colleges funded by the Charles Stewart Mott Foundation.

Lorain County Community College is helping America win the future by out-innovating, out-educating, and out-building our competitors.  Read more about its efforts at the new Innovation Fund America site, and check out the full range of Startup America policy initiatives and private-sector commitments at www.WhiteHouse.gov/startupamerica.

White House.gov Blog Feed

Community Leaders Respond to National Report on Gulf Oil Disaster – PR Newswire (press release) 0

Posted on January 12, 2011 by bp complaints

Community Leaders Respond to National Report on Gulf Oil Disaster
PR Newswire (press release)
By giving the communities who pay the price for the oil industry's mistakes a seat at the table to check on oil spill prevention and response plans,

and more »

gulf oil spill updates – Google News

Community Leaders Respond to National Report on Gulf Oil Disaster – eReleases (press release) 0

Posted on January 12, 2011 by bp complaints

Community Leaders Respond to National Report on Gulf Oil Disaster
eReleases (press release)
It would also provide oversight, monitoring, and recommendations regarding oil and gas production, policies, and oil spill prevention and response.
Six Things You Probably Didn't Know About the Oil SpillAOL News

all 2 news articles »

gulf oil spill updates – Google News

Community response 0

Posted on October 03, 2010 by bp complaints

BP is continuing to work with the U.S. Coast Guard and other federal agencies and contractors to safely and effectively stop the oil flow
Gulf of Mexico response

The Green Community week in review: Gulf oil spill is “largest marine oil … – Creative Loafing Tampa (blog) 0

Posted on September 26, 2010 by bp complaints

The Green Community week in review: Gulf oil spill is “largest marine oil
Creative Loafing Tampa (blog)
Report: Gulf oil well leaked 56000 to 68000 barrels daily — Largest marine oil accident ever – After studying the data and watching video footage of the

gulf oil spill updates – Google News

The Green Community week in review: Greenpeace Gulf investigation continues … – Creative Loafing Tampa (blog) 0

Posted on September 21, 2010 by bp complaints

The Green Community week in review: Greenpeace Gulf investigation continues
Creative Loafing Tampa (blog)
Gulf oil spill updates: Oil on the sea floor and politics getting in the way of research – The further research and development of the oil spill is

and more »

gulf oil spill updates – Google News

Leno Raises $100000 For The Gulf Coast Community Affected By Oil Spill – Thaindian.com 0

Posted on August 23, 2010 by bp complaints

msnbc.com

Leno Raises 0000 For The Gulf Coast Community Affected By Oil Spill
Thaindian.com
The Gulf Coast Community Fund will be distributing the money to the Mississippi Oil Spill Recovery Fund which is linked with several non profit oil spill
Jay Leno Raises 0000 For Gulf Coast RecoveryNPR
Leno's Gulf Coast show raises 336 for oil spill victimsFort Worth Star Telegram
Leno raises 0000 US for oil spill recoveryCBC.ca
Right Pundits –The Associated Press –One News Page
all 503 news articles »

gulf oil spill updates – Google News

Community outreach 0

Posted on July 28, 2010 by bp complaints

Gulf of Mexico response

Community responders sought in Monroe County, FL 0

Posted on July 04, 2010 by bp complaints

Recent Updates for Unified Command for the BP Oil Spill | Deepwater Horizon Response

Community Responders sought in Monroe County to train for oil clean-up work 0

Posted on July 03, 2010 by bp complaints

Recent Updates for Unified Command for the BP Oil Spill | Deepwater Horizon Response



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