Slavic Village Business Incubator Project Competition

We just got this press release from our friend Chuck Gliha in his NextBroadway! bulletin:

Slavic Village Development accepting applications for business incubator

CLEVELAND – Slavic Village Development is accepting applications for its new Business Incubator Project. The competition will select one winning business concept to receive free rent for a year in a Slavic Village storefront.

The Slavic Village Business Incubator project is designed to promote entrepreneurship and attract new business development in the Cleveland neighborhood. As part of its overall neighborhood improvement plan, Slavic Village Development actively recruits small businesses and promotes retail corridors. With this project, Slavic Village Development is seeking to foster the creation of new businesses, with a focus on the retail and service sectors.

“This project will bring many benefits to the Slavic Village community,” said Marie Kittredge, Executive Director of Slavic Village Development. “It will support entrepreneurship, fill a vacant storefront in our retail district, and help establish a new business for local consumers.”As part of the award, the Business Incubator winner will receive free rent for one year and the possibility of discounted rent in the second year for a total value of $12,000. The award winner will be matched up with business mentors for technical assistance to complete a business plan prior to the store’s grand opening and guidance through the business development process. Design and funding assistance from the Storefront Renovation Program will be available for new signage for the business.

“There is a critical need to help small business start-ups,” said Ned Handy, President & CEO of Charter One Bank. “The Business Incubator concept is one we’re proud to support. The free rent can really make a difference in getting a business off the ground and making it successful.”

Charter One is the No. 1 SBA lender to small businesses in the Greater Cleveland area. The Charter One Foundation provided grant funding for the incubator.

A free workshop will be held in mid-November to assist interested entrepreneurs with business planning and fundamentals. For more information about the competition, application process, or workshop, visit www.slavicvillage.org, benc@slavicvillage.org or contact Slavic Village Development at (216) 429-1182. Completed applications must be submitted by 5 pm. on Friday, December 8th.
The Business Incubator competition winner will be announced on January 15, 2007.