TechLift FAQs

Is there a charge for TechLift Services?

No. TechLift is supported by the state of Ohio Third Frontier funds and by matching funds from other organizations. There is no charge for consulting and entrepreneurial support services from TechLift EIRs. The lone exception is that some specific programs, such as grant funding assistance classes, may have nominal charges to cover incremental expenses.

How much time will I get from my TechLift EIR?

Depending upon available time and requirements, entrepreneurs can expect to receive four to 12 hours per month of help from their TechLift EIR. TechLift’s goal is to support technology entrepreneurs at all stages of development and to provide in-depth services to as many entrepreneurs as possible. It is likely; however, that demand for EIR time will outstrip availability. In this instance, TechLift will prioritize support and consulting resources toward those companies that display the best chances for growth, hiring and follow-on capital.

TechLift EIRs will make every effort to meet client companies’ needs, which will often mean a great deal of support in a given week or month, and less in others.

Does TechLift invest in my company?

TechLift does not directly invest in client companies. TechLift EIRs do; however, help guide technology entrepreneurs through the maze of financing options. We know the financing sources in the region and can help you evaluate the opportunities and risks.

As part of the Third Frontier Grant that formed TechLift, $6 million in investment funding for early stage technology companies was awarded. These funds will be invested by JumpStart, Glengary LLC, North Coast Angel Fund and the GLIDE Innovation Fund. TechLift EIRs are involved in the company selection process for investments using these funds and can help entrepreneurs understand and prepare for the process, criteria and expectations.

I read that Northeast Ohio received $15 million from the State for entrepreneurial services. Did that all go to TechLift?

NorTech coalesced the collaborative to apply for Northeast Ohio’s Third Frontier Entrepreneurial Signature Program (ESP) grant in late 2006. At that time, we recognized that Northeast Ohio had already invested in a competent entrepreneurial support system that had achieved a great deal already. JumpStart has become a national model in providing early-stage funding and coaching for select companies. BioEnterprise has led the way for Northeast Ohio to become one of the fastest growing areas in the U.S. for BioSciences companies. Our cadre of incubators, particularly those of NEOinc, provide space, services and support to entrepreneurs locally throughout the region.

In forming our grant request, we had two objectives. The first was to support new programs that would strengthen the impact of our existing entrepreneurial infrastructure. The second objective was to create new services that “filled in holes” in coverage and services from that existing infrastructure.

To address the first objective, significant ESP funds went to JumpStart, BioEnterprise and NEOinc to support new programs in talent attraction, entrepreneurial coaching and services, and due diligence services. For more detail on these programs, click here.

TechLift’s direct services were designed to address the fact that despite our successful entrepreneurial support structure, there were many technology entrepreneurs who were not receiving the help that could make them and Northeast Ohio as successful as possible. For more details on TechLift’s direct services click here.

Additionally, $6 million in ESP funds went to selected pre-seed funds for investment in Northeast Ohio entrepreneurial technology companies.

TechLift is a collaborative that takes technology entrepreneurism in Northeast Ohio to a new level. All of the above contribute to this and are significant parts of that collaborative.

I’m confused by all of the organizations in Northeast Ohio; what is TechLift’s relationship to JumpStart, BioEnterprise and others?

TechLift works collaboratively with all of the organizations in Northeast Ohio that support, provide services to, or provide connections to technology entrepreneurs. Through these connections, TechLift helps entrepreneurs make sense of and most effectively work with these organizations.

TechLift has a particularly close relationship with our collaborative partners in the Third Frontier ESP grant: JumpStart, BioEnterprise and NEOinc.

Although JumpStart has made strides in early stage funding and nurturing for entrepreneurial companies, by necessity, it must be very selective in the companies it invests in and can give maximum support services to. TechLift works directly with JumpStart to help companies that aren’t yet ready to be invested in by JumpStart, or for which JumpStart isn’t the best answer. In this way, the JumpStart/TechLift team provides services and support to Northeast Ohio technology companies that are unmatched anywhere in the U.S.

Similarly, BioEnterprise must be selective, both in terms of readiness for venture financing and in specific technology areas, in order to best achieve its goal of growing Northeast Ohio’s strength in BioSciences via venture financing. TechLift’s BioSciences EIR works very closely with BioEnterprise to support those companies who could otherwise “fall through the cracks."

The regional incubators that make up NEO Inc, (AGBA in Akron, MAGNET in Cleveland, GLIDE in Lorain, BrainTree in Mansfield and YBI in Youngstown) are also very close partners with TechLift. These and other incubators throughout the region provide key entrepreneurial support, office space and services- located where you are. TechLift’s EIRs work directly with these incubators and their resident companies to provide technology focused support. In addition, TechLift funding directly supports Entrepreneurial Experts (EEs) resident in the NEO Inc incubators to provide local support and coaching.

I am looking for a place to house my business, what are my options?

A great place to start is NEOinc, which is comprised of five technology focused incubators located throughout Northeast Ohio. Additionally, there are a number of other incubation facilities throughout the region who can provide not only space, but also many other support resources as well. For a list of these, go to our resources page.

We are focused on Northeast Ohio's signature technologies:

Advanced Materials, BioSciences, Electronics, Information Technology, Advanced Energy