CLEVELAND, OH, August 27, 2018 – Nine local small businesses have advanced in the Cleveland Chain Reaction neighborhood economic development project and have been named as finalists. These companies are currently meeting with the project’s investors for a chance to earn $100,000 of investment.
107 total businesses applied for Chain Reaction and 18 companies made it to the semi-finals round, where they made their initial pitch to five investors on July 30 & 31 at the Business Pitch Competition. Since then, the Chain Reaction investors have been conducting research and meeting with their preferred companies to determine investment options. The following nine companies are competition finalists and are still eligible to receive investment:
- Cleveland House Hotels
- Hatfield's Goode Grub
- Her BlueWear Uniforms
- Immaculate Cleaning Co.
- Old Brooklyn Cheese Company
- PearlFlower Catering
- Randy's Pickles
- Sidekicks Salsa, LLC
- Vino Veritas Cellars
Old Brooklyn, a west side neighborhood in the city of Cleveland, has been selected as the host neighborhood for Cleveland Chain Reaction’s second season and will serve as the new home for the five (or more) companies that receive an investment.
Bernie Moreno, Rick Blaszak, Dan Zelman, Vanessa Whiting and Eddie Ni are the five local investors committed to the project. These city advocates each have made available $100,000 to invest in these local scale-up businesses. Collectively, the new businesses that open during Chain Reaction will bring jobs and additional economic activity to the Old Brooklyn neighborhood.
A final investment decision from each investor is expected by the end of September 2018. Final deals, real estate decisions, and future business plans will be announced publicly in partnership with Fox 8’s Kenny Crumpton during the first week of October.