Identifying the Need.
GLIDEIn 2001, Lorain County Community College, in partnership with the Lorain County Commissioners and Lorain County Chamber of Commerce, launched GLIDE, the Great Lakes Innovation and Development Enterprise, a technology incubator located on the campus of Lorain County Community College. GLIDE’s purpose: help technology entrepreneurs succeed to create jobs in new industries through mentoring, space and wrap around business support services.
As GLIDE began operations, a significant hurdle for young, start-up technology companies was clearly identified: access to capital. Entrepreneurs with promising technology ideas struggled to find the financial resources at the proof of concept stage – often referred to as the valley of death. They needed bridge support to reach a point of maturity where the technology and business might be attractive to angel and venture capital investors. But, because the financial risks at this stage are so great, support needed to be from the public sector.
To read the full, original article click on this link: History of the Innovation Fund
