Entrepreneurship

The Fischer Group swims upstream in 2009 with over 600 homes sold

In 2008 most homebuilders struggled.   The Fischer Group wasn't one of them.The Fischer Group, which includes Fischer Homes and Maple Street Homes, sold and closed more than 600 homes in the Cincinnati area and expanded by acquiring more than 1,600 home sites in Cincinnati, Dayton and Columbus, where Fischer entered for the first time last year.Moreover, Fischer closed one of every four homes on the market in the fourth quarter of 2008.  And this is just the beginning.In 2009 Fischer has plans for even more growth.  Last month Fischer unveiled its Get Moving America program, which offers payment protection for homeowners who lose their jobs.  This program is part of Fischer's ambitions for 2009."With interest rates at an all-time low, affordability has never been better," says Fischer Homes’ Director of Marketing Brian Fannin.Like many companies, Fischer is keeping its edge by leveraging social media for marketing purposes.  Fischer now has a home on Facebook as well as a Twitter account.To learn more about Fischer Homes, visit here; for Maple Street Homes, here. Writer:  Jonathan DeHartSource:  Jill Isaacs, The Fischer Group

Bexion Pharmaceuticals, Edunet24 and Clinical Engineering Consultants score $530,000 in funds

The Northern Kentucky ezone has just delivered the goods for three local start-ups.As a division of the Northern Kentucky Tri-County Economic Development Corporation (NKY Tri-ED), the ezone has ties to some big funders.In this recent round of funding, the ezone helped Bexion Pharmaceuticals, Edunet24 and Clinical Engineering Consultants (CEC) gain a collective $530,000 from the Kentucky Science and Technology Corporation (KSTC)."The ezone is an important resource for entrepreneurs and is helping start-up companies access funding opportunities available through the Kentucky Science and Technology Corporation," says the head of ezone's entrepreneurship committee Tom Prewitt.These companies will use the money in diverse ways.Covington-based Bexion Pharmaceuticals received $400,000 of this sum for cancer research.  This matching grant from the KSTC comes on the heels of a grant from the National Institutes of Health called "A Novel Biotherapeutic Treatment for Pancreatic Cancer."Meanwhile, Erlanger-based Edunet24 will use its $100,000, given by the Kentucky Enterprise Fund, to bolster its online academic performance enhancement offerings.  With its recent financial boon Edunet24 will develop a system that will enable English language learners to create individualized learning plans.And with assistance from the Northern Kentucky University Innovation Center, CEC, also based in Erlanger, will apply its $30,000 toward development of software that allows hospitals to manage their medical technology.  This technology will be dispersed to nearly 400 medical centers.The activities of these three northern Kentucky firms are a sure indicator of the region's innovation and entrepreneurial strength. "We are known as an innovative and supportive region that fosters the growth of these types of companies," Prewitt says. Kentucky companies focusing on high-tech and quickly growing fields can apply for funding through the Commonwealth of Kentucky until May 7, 2009.  Grants start at $30,000 and other types of funding are available from $100,000 to $750,000.    To learn more about the Northern Kentucky ezone, visit here. Writer:  Jonathan DeHartSource:  Cheryl Besl, Northern Kentucky Tri-County Economic Development Corporation

Minority Business Accelerator adds KANU Investments and Focus Solutions to portfolio

The Minority Business Accelerator (MBA) has just included two more companies in its portfolio: KANU Investments, Inc. and Focus Solutions, Inc.  This brings the total roster of minority owned companies in the MBA portfolio up to 30.As the premier minority-owned business initiative of the Cincinnati USA Regional Chamber, the MBA has made great progress since its inception in 2002."The MBA has done a phenomenal job," says MBA vice president Crystal German. The combined revenues of the firms in the MBA portfolio started at $95 million in 2003 and exploded to $375 million in 2007.  The companies in the portfolio have burgeoned too.  Since the MBA's start in 2002, the average firm has grown from $4.8 million to $8.2 million.  And employment has increased by 36 percent.Its goal is simple: to help well established minority-owned businesses grow and bring new players into the field.  This results in minority businesses playing a larger role in the economy, thus increasing employment and economic growth in the region.German explains that, essentially, this is done on both the demand and supply sides to ensure that the minority businesses involved are fully plugged into all aspects of the economy.To gain entry, a business must be minority-owned and generate a minimum revenue of $1 million; something both KANU Investments and Focus Solutions have no problem doing.KANU Investments, a certified Minority Business Enterprise (MBE) under the name L.A. Scott Trucking, plies its trade as a DOT-registered truckload contract carrier, led by president and CEO I. Enyi Kanu.  Focus Solutions, also an MBE as well as a Women's Business Enterprise (WBE), performs three main functions: process management, property management and temporary staffing.  President and CEO Zola Stewart holds the reins at Focus.KANU and Focus are in good hands with the MBA.In 2008 the MBA convinced local businesses to spend $400 million in goods and services with local area MBEs – a 30 percent increase in spending.With this track record, the MBA is poised to play an important part in bolstering Cincinnati's economy in the economic climate of 2009."This is an important thing for Cincinnati to have because there are so many residual benefits," says Chamber PR director, Chris Kemper.  "It's a national leader for what we do.  It's [something] Cincinnati should be proud of because it's been so successful."To learn more about the MBA, visit here.Writer:  Jonathan DeHartSource:  Cincinnati USA Regional Chamber, Chris Kemper, Crystal German

Forced Entrepreneurship

Carol at CEOs for Cities speaks a lot about increasing the number of college-educated people in America (and especially in its cities), but she's always met with two arguments: We can't employ the talent we do have, and many of our jobs only require associate degrees or technical training.So why keep pushing "talent"?Carol says that she pushes for talent because, in national surveys, 64 percent of college-educated young adults say that they choose the city first, then the job; cities with the most talent are the best positioned to recover quickly; and talent is a source of entrepreneurs who create jobs.She was reminded of these arguments while reading a New York Times piece on forced entrepreneurship, about out of work people who have had to create their own jobs to get by.As she points out, small firms contribute to a large portion of out workforce -- firms with fewer than 10 employees have 12.4 million workers, approximately 11 percent of the private sector workforce.Read the full article here.

Video Last Supper

Last month saw the turning of a page in the Cincinnati dining scene as Jean-Robert at Pigall's closed its doors for the last time. Soapbox photographer and long time associate of Jean Robert de Cavel, Scott Beseler documented a special final seven-course meal at the Chef's kitchen-side table. Restaurants come and restaurants go, but talent and innovation are both renewable resources. Happily Chef Jean Robert de Cavel will remain in Cincinnati. We look forward to pulling up a chair to his next exciting project. Bon Appetit!

Customer-friendly Best for Babies gives back to community

Social Media giants to meet in Cincinnati

Cincinnati will be the next Silicon Valley - well at least for one night as Procter & Gamble hosts the top executives from Google, Facebook, MySpace and Twitter at its headquarters next week according to Advertising Age. The meeting is by strict invitation only, so don't feel bad if this is the first time you're hearing about it. Read the full article here.

Tata Consultancy to host Selling to India conference on March 6

On March 6, Cincinnati's Tata Consultancy North American Delivery Headquarters will host a conference that will put Cincinnati's professional community ahead of the curve on doing business India.On March 6, at Tata Consultancy Services Auditorium, in Miami Township, Clermont County, OH, the US Department of Commerce will present Selling to India:  Opportunities Await, as part of its conference series titled Around the World in 2009: International Conference Series.The need to increase the collective India IQ is clear.With the world's second largest population and a rapidly growing middle class, opportunities for business in India are seemingly infinite.  Cincinnati stands to benefit greatly from this take-off."There are great opportunities, but it is important for Cincininati firms to do the research to find out if selling to India fits their strategy," says Kara Sweeney, international trade specialist, U.S. Commercial Service – Cincinnati.   However, there are a plethora of issues to consider before exporting products across the globe.  Indian social customs – particularly the caste system – different expectations with regards to the business process, and a slow decision making style are among a few of the numerous differences that must be accounted for.This is where Selling to India comes to the rescue.Selling to India, sponsored by Frost Brown Todd Attorneys, will feature an impressive line-up of business leaders and India experts.  They will enlighten attendees on the financial, legal and cultural considerations that must be accounted for when courting the Indian market.Presenters include Consul General of India-New York, Prabhu Dayal; Dr. Abdul Quader Shaikh, Senior International Economist, US Commercial Service, US Department of Commerce; and Abid Ali Z. Neemuchwala, Vice President of Tata Consultancy Services."By attending our March 6th event, local businesses can find export resources to help them determine if India is the right market for their company and provide the tools to assist them in positioning themselves for success," Sweeney says. For more information or to register, visit here.Writer:  Jonathan DeHartSource:  Tata Consultancy Services, Kara Sweeney, US Commercial Service

UC research displayed for state

A February 18 event at the Ohio Statehouse showcased the University of Cincinnati's groundbreaking research and how it's contributing to Ohio's economy.The second annual event, featuring interactive, hands-on exhibits, highlighted UC research that has not only resulted in start-up companies and jobs in the region and brought significant savings to existing Ohio companies, but also holds the potential for significant economic growth in the future.Among the exhibitors were clinical kit producer Siloam Biosciences, Inc. of Forest Park; Mac Tools of Georgetown, Ohio, which optimizes manufacturing processes; and the team of Anastasios Angelopoulos and Jonathan Bernstein, who are working to produce more efficient fuel cells as an alternative to gasoline.Ohio senators and representatives, aides, representatives from the Ohio Board of Regents, Statehouse staff, industry partners, and high school students were among those who viewed the exhibits.Read the full article here.