The entrepreneurial spirit is alive and well across Northeast Ohio.
Congratulations to the winners of the sixth season of Cleveland Chain Reaction, a neighborhood economic development project and small business pitch competition from the Greater Cleveland Partnership’s (GCP) Council of Small Enterprises (COSE).
Cleveland Chain Reaction connects entrepreneurs to capital and mentors and places new businesses in Cleveland neighborhoods to create jobs and prosperity.
“This season of Cleveland Chain Reaction had a true wow factor. It is inspiring and energizing to work with such innovative and passionate entrepreneurs right here in Greater Cleveland,” says Megan E. Kim, executive director of COSE and senior vice president, membership development and marketing at GCP. “Whether the winner or not, COSE looks forward to continuing to engage with these businesses to support their ambitions and to help build more successful businesses that bring jobs and economic impact to our region.”
First place went to Marshmallow of the Month Club, a maker of artisan marshmallows, fresh baked graham crackers and a signature blend of gourmet cocoa, which received $40,000. Second place went to It’s a Wrap LLC, a provider of vinyl vehicle wraps, window tinting and graphics and signage for vehicles, which received $20,000. Crochet Kitty, a creator of safe, handcrafted cat toys received $10,000 for taking home third.
The 15 remaining semifinalists received $1,250 grants funded by Cleveland Chain Reaction partners, Medical Mutual, Minutemen Family of Companies and MAGNET. The winners were announced live at the Ariel LaSalle Theatre and featured on Kickin’ It with Kenny on FOX 8 News in the Morning.
The 18 semifinalists participated in a four-week bootcamp hosted by JumpStart where business experts advised them on how to pitch their businesses, create a business plan, place value on their businesses and appropriately invest capital to take their businesses to the next level. The entrepreneurs then pitched their businesses to a panel of judges for the
opportunity to win a capital investment.
The 15 other semifinalists included: 2 You Wines; A Chiropractic Healing; Ari Memorial LLC; Carmella Marie Inc.; I Care Healthcare; Great Lakes Watersports; LaJAshley; Lokul; Mixology Inc.; Play Maysie: A Portable World of Play; The Capsoul
Collective Inc.: The T.U.L.S.A. Learning Center; The Touch of Teele’s Cleaning and Detail LLC; YumVillage, Cleveland and ZuZu Chocolates.
“JumpStart is committed to helping entrepreneurs grow their businesses through transformative advising, network connections and education,” says Lauren Smith-Petta, JumpStart’s director of educational services. “We are proud to partner with Chain Reaction to deliver an intensive 4-week bootcamp to prepare participants for growth. It’s a true pleasure to witness the promise of Cleveland entrepreneurs through this cohort of ambitious contestants. We’re excited to see where these inspiring entrepreneurs go from here.”
Since its inception in 2017 (the competition was put on hold in 2020 due to the pandemic), Cleveland Chain Reaction has received more than 515 applications, coached and prepared 126 small business semifinalists, connected winning businesses to more than $1.7 million in capital and provided over 580 hours of technical assistance.
Cleveland Chain Reaction was inspired by Cleveland Hustles, the reality series produced by LeBron James that aired on CNBC in 2016. Cleveland Chain Reaction is an independent and unrelated effort that supports the continued opportunity that Cleveland Hustles initiated. Cleveland Chain Reaction is produced by COSE in collaboration with FOX 8 News in the Morning’s Kickin’ It with Kenny. This season of Cleveland Chain Reaction was sponsored by Medical Mutual, Minutemen Family of Companies and MAGNET. FreshWater Cleveland was the competition’s digital publication partner.