CLEVELAND, OH, May 5, 2017–The deadline for entrepreneurs to apply to be a part of Cleveland Chain Reaction has been extended until Monday, May 29 at 12 p.m. Slavic Village, an east side neighborhood in the city of Cleveland, has been selected as the host neighborhood for Cleveland Chain Reaction, an economic development project that will match local investors with local entrepreneurs to open five new businesses in the city in 2017. The total economic boost to the neighborhood will likely exceed $1 Million. “The Cleveland Chain Reaction Team has been spending a lot of time in Slavic Village with Slavic Village Development, the business support team in that neighborhood,” says Steve Millard, Executive Director of the Council of Smaller Enterprises (COSE). “There is a tremendous opportunity for small businesses to be a part of what we think will be the next emerging Cleveland neighborhood success story.” Businesses can submit their application by visiting www.clevelandchainreaction.org. Applicants will be informed of their status by Monday, June 5,2017. Up to 20 businesses will be selected to move on to the semi-finals where they will pitch live in front of our five investors. The showcase will take place on Page | 2 Monday, June 12,2017 from 11:30 a.m. – 5:30 p.m. at the Alex Theater located within the Metropolitan at the 9. Five local investors have committed to the project. These city advocates each have made available at least $130,000 to invest in a local scale-up business. Collectively, the five new businesses that open during Chain Reaction will bring jobs and additional economic activity to the neighborhood. The five investors - Fred Geis, Andrew Jackson, Lillian Kuri (For the Cleveland Foundation), Justin Miller, and Claudia Young – were responsible for choosing Slavic Village as the winning neighborhood. About The Cleveland Chain Reaction While inspired by Cleveland Hustles, The 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. It invests private funds in neighborhood commercial real estate, and in entrepreneurs proven ready to ramp up in those areas to create jobs, attract residents and visitors, and generate sustainable profitability. Learn more about Cleveland Chain Reaction at www.clevelandchainreaction.org.