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Local business accelerator promotes entrepreneurship

March 21st, 2013

What started out as an old Zalud Oldsmobile dealership is now home to nearly 40 portfolio companies.

LaunchHouse is a lean business accelerator that fosters entrepreneurial success and the creation of jobs. Their mission according to their website is to “create a hub of entrepreneurial innovation for promising startups and to help transform ideas into successful companies.”

The LaunchHouse Accelerator program, LHX, helps companies make their ideas a reality. The 10 new tech startups from Cleveland are DuelFM, FitVia, Gtail, Hoofty Match, iOTOS, Widdle, Quick2Launch, Slicked Apples, Tagora and Winners Circle Gaming. These companies provide a range of cutting-edge, broad-based technologies, including smart phone apps, online marketplace and adaptable platforms.

LaunchHouse also wants to target younger children to help them find their inner entrepreneur. Through the partnership with LightHouse, students from Northeast Ohio will get mentoring and funding to help them build their business ideas. The 14 students who were recognized at “A Night of Recognized Entrepreneurs,” represented seven high schools.

The schools involved in this program are Beachwood High School, Shaker Heights High School, University School, Solon High School, Montessori High School, Chagrin Falls High School and Hawken School.

When asked about his opinion of the program, the CEO and managing partner of LaunchHouse, Todd Goldstein, said in a press release, “Local high schools are just beginning to promote entrepreneurship in their curriculum, however, it is not a well defined area for students to fully know what it means to build a company.

“If Northeast Ohio high school students start a business prior to entering college, chances are much higher for them to come back to the region following graduation.” This statement falls in line with LaunchHouse’s mission to help entrepreneurs become successful.

The younger generation is the future of startups, and that is why they need a place that will help them to develop the right business plan. Growth is essential to business, as it is to an economy as a whole.

The economy can only benefit from a younger generation with entrepreneurial minds and ideas that can grow to something larger. Fostering entrepreneurialship in today’s young businessmen and women is vital to this growth.

LaunchHouse is offering students opportunities to become a member. This membership offers a space to work, Wi-Fi and you are also able to interact with not only other members, but with other successful companies. LaunchHouse offers its members the opportunity to network with portfolio companies to get their insight on the startup process.

Information from launchhouse.com was used in this report.

By, Emilia Ejsmont