The Burton D. Morgan Foundation announced it’s seeking applications from CEOs and owners of small businesses in Northeast Ohio for the 2023 cohort of Scalerator NEO.
Scalerator NEO “targets companies with sales between $3 million and $15 million, and whose owners have a strong ambition to grow their businesses, quickly and sustainably,” the Hudson-based foundation said in a call for applications.
Companies from all sectors are encouraged to apply, “as a diverse cohort has proven to provide the most fertile ground for a successful scalerator experience,” according to the foundation.
The 2023 Scalerator NEO cohort runs from April through November.
The deadline to submit an application is Feb. 28. For more information on how to apply, go here, to ScaleratorNEO.org, or contact Brittany Bush at [email protected]
Foundation officials describe Scalerator NEO as “a cohort-based educational program for entrepreneurs and their teams who want to deliver immediate growth to their businesses and are open to learning new ways to achieve this goal.” It said 75% of participating companies in previous cohorts increased their growth by 25% or more following completion of the program.
Since 2017, 72 Northeast Ohio companies have completed Scalerator NEO, which is supported by the Morgan Foundation and the Fasenmyer Fund, established at the Morgan Foundation by the former Richard J. Fasenmyer Foundation. Their collaboration is designed to support entrepreneurship and free enterprise in Northeast Ohio.
EDGE, a nonprofit economic development organization focused on innovation and entrepreneurship in Northeast Ohio, serves as the program administrator. Funds from Morgan Foundation and Fasenmyer Fund cover the costs associated with Scalerator NEO, so there are no fees charged to participating companies.