It was the culmination of the fifth season of Cleveland Chain Reaction, a small business pitch competition from the Greater Cleveland Partnership’s (GCP) Council of Smaller Enterprises (COSE). The program celebrates the entrepreneurial spirit here in Northeast Ohio, recognizing our local dreamers who are passionate, resilient and, above all, possess the drive to succeed.
Fox 8 News’ “Kickin’ it with Kenny” was on hand to help celebrate, with host Kenny Crumpton loaded for bear with confetti cannons as the winners were announced.
Terranean Herbs & Spices, maker of authentic Za’atar seasoning and snacks, took home top honors as well as a check for $40,000. Three second-place winners, including CHVD JUSTIN, a retail bag and apparel company; Fuego Fermentations, a creator of high-quality, fermented premium barbecue and hot sauces; and Micah Specialty Foods, a manufacturer of authentic Ghanaian/African spices, sauces and beverages, took home checks of $10,000 each.
The 16 remaining semifinalists received $1,800 grants funded by Cleveland Chain Reaction partners Bedrock, JumpStart, KeyBank and MAGNET. Bedrock also offered all businesses free tenancy at a Tower City Center kiosk during an event day within the first six months of 2023.
“This has been an exciting season of Cleveland Chain Reaction featuring 20 entrepreneurs who are passionate, resilient and have a drive to succeed,” says Megan E. Kim, executive director of COSE and senior vice president, membership development and marketing at GCP. “It was difficult to narrow down the competition to the top three businesses, so we decided to invest in the top four and award grants to the remaining semifinalists. But this isn’t the end. COSE and our partners will continue to work with the businesses to help them attain their growth goals.”
“Bedrock’s partnership with COSE and the Cleveland Chain Reaction competition helps us to empower entrepreneurial talent to continue to grow Cleveland,” says Ivy Greaner, executive vice president and COO at Bedrock. “We’re dedicated to supporting the downtown community through our efforts with our Cleveland community partner organizations that support companies through all stages of planning, helping to bring diverse business to the people of Cleveland.”
The 20 Cleveland Chain Reaction 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. On Thursday, Dec. 8 and Friday, Dec. 9, the entrepreneurs pitched their businesses to a panel of judges for the opportunity to win a capital investment.
“Small business education and advising is mission critical for JumpStart, and it’s been a privilege to extend that support to Chain Reaction semifinalists,” says Patty Ajdukiewicz, JumpStart’s director of small business services. “Most entrepreneurs are experts in their field but need help understanding the nuances of running a business. We’ve seen a lot of progress over the past four weeks and can’t wait to see these entrepreneurs continue to grow.”
Other judges included: Jason Russell, vice president, operations and leasing at Bedrock; Ken Wilson, senior manager, minority business growth at GCP; Rachel Trem, marketing manager at MAGNET; Mattie Jones Hollowell, vice president, corporate responsibility officer, KeyBank; and Angel Rodriguez, senior vice president, business banking sales leader, KeyBank.
Cleveland Chain Reaction connects entrepreneurs to capital and mentors and places new businesses in Cleveland neighborhoods to create jobs and prosperity. During its five year stretch, and after missing 2020 due to the COVID pandemic, Cleveland Chain Reaction has generated 476 applications, coached and prepped 108 small business semifinalists and connected winning businesses to more than $1.7 million in capital.
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 started by one of the “Cleveland Hustles” investors that supports the continued opportunity that “Cleveland Hustles” initiated.
Cleveland Chain Reaction is produced by GCP and COSE in collaboration with FOX 8 News in the Morning’s “Kickin’ it with Kenny.” FreshWater Cleveland is the competition’s digital publication partner.
