CLEVELAND, OH, April 24, 2018 – The second season of Cleveland Chain Reaction begins today. This economic development project will match local investors with local small businesses to grow the companies and locate within a city of Cleveland neighborhood in 2018. Cleveland Chain Reaction follows in the footsteps of LeBron James’ Cleveland Hustles, a reality television series that aired on CNBC in 2016. This effort, which is produced by Cleveland Neighborhood Progress, the Council of Smaller Enterprises (COSE), JumpStart and GlazenUrban, along with media partner WJW Fox 8, will deliver up to $1 Million of investment. The first season took place in Slavic Village in 2017.
Cleveland Neighborhood Progress is coordinating the neighborhood competition to host Cleveland Chain Reaction, and four city neighborhoods are being considered for hosting the 2018 project. With today’s launch, Old Brooklyn, a west side neighborhood with nearly 35,000 residents is the first of the four to receive exposure. Below is the full schedule of upcoming neighborhood features to air on Fox 8 Kickin’ it with Kenny (Crumpton) morning segments. The other neighborhoods being featured are Midtown, Shaker Square/Larchmere and Collinwood.
Upcoming Fox 8 TV Schedule
Tuesday April 24 Old Brooklyn feature
Friday April 27 Midtown feature
Tuesday May 1 Shaker Square/Larchmere feature
Thursday May 3 Collinwood feature
Friday May 11 Announcement of winning neighborhood & introduction of investors
Five local investors have been recruited to participate in 2018. These city advocates will each pledge to invest up to $100,000 in local scale-up businesses. Collectively, the selected businesses that open during Chain Reaction will bring jobs, real estate investment and additional economic activity to the winning city neighborhood. The 2018 investors will be introduced on the May 11th television broadcast.
Cleveland Chain Reaction is now accepting applications for businesses that are interested in being considered as one of the companies that will work with our investors to grow a business in the chosen city of Cleveland neighborhood. The deadline to apply is 3:00 pm on May 30, 2018. Interested businesses can learn more at www.ClevelandChainReaction.org.
In season #1, Cleveland’s Slavic Village served as the host neighborhood for this economic development project and more than $600,000 was invested in the winning businesses. With real estate investments and subsequent building improvements, approximately $1 Million total is being invested in the Slavic Village neighborhood as a result of Cleveland Chain Reaction.
While inspired by Cleveland Hustles, Cleveland Chain Reaction is an independent and unrelated effort with some of the same Clevelanders involved to support the continued economic development opportunity that Hustles sparked. Cleveland Neighborhood Progress is a local community development intermediary working to foster inclusive neighborhoods of choice and opportunity in Cleveland. COSE is a small business support organization providing Northeast Ohio business owners networking and educational events and programs, advocacy on legislative and regulatory issues and cost-effective group purchasing programs. GlazenUrban is a private community development company founded by Alan Glazen, who also served as an investor on Cleveland Hustles. JumpStart Inc. is a nationally recognized non-profit venture development organization with a mission to unlock the full potential of diverse and ambitious entrepreneurs to economically transform entire communities.