- MAGNET City of Cleveland Cuyahoga County announce innovation project 01 03 12
MAGNET, City of Cleveland and Cuyahoga County announce innovation project
Tuesday, January 03, 2012
$450,000 in loans available for Cleveland and Cuyahoga County small and medium-size manufacturers
to solve technical challenges utilizing NASA subject experts
Cleveland, Ohio—The City of Cleveland, Cuyahoga County and the Manufacturing Advocacy & Growth Network (MAGNET) today announced a program that will allow small and medium-size manufacturers to use the services of NASA subject matter experts for free—and obtain special low-interest loans from the City or County—to help solve technical challenges they have with one of their new or existing products.
NASA Glenn will make its subject experts available on a pro bono basis via a Space Act Agreement with the City of Cleveland. The experts will be available to each manufacturer selected to participate in the program. Their expertise covers basic engineering disciplines as well as the specialty fields that support the center’s core competencies:
- Air-breathing propulsion
- Communications technology and development
- In-space propulsion and cryogenic fluids management
- Power, energy storage and conversion
- Materials and structures for extreme environments
- Physical sciences and biomedical technologies
Manufacturers needing more information on NASA capabilities and these core areas can find more information on the MAGNET Web site at: www.magnetwork.org/nasa.
NASA Glenn is excited to participate in this innovative program,” said NASA Glenn Director Ray Lugo. “By providing access to our science and engineering workforce, we can offer potential solutions to these companies for their specific technical challenges. This endeavor aligns nicely with Glenn’s mission to drive research, technology and systems to advance aviation, enable exploration and improve life on Earth.”
To help with any other costs that might arise from a selected project, the City of Cleveland and Cuyahoga County are making $450,000 in low interest loans available to the companies selected for the program.
“We anticipate the City of Cleveland and Cuyahoga County being able to provide loans to eight to 10 companies and know that they will achieve added revenue and create jobs by participating in this manufacturing innovation project. The results from the existing Cuyahoga County New Product Development and Entrepreneurship Loan Fund that MAGNET has successfully administered for the past five years is proof of that,” said Cuyahoga County Executive Ed FitzGerald.
“MAGNET is delighted to be partnering with the City of Cleveland and Cuyahoga County on this initiative, which certainly allows us to continue our role as a strong provider of resources that help and support area manufacturers,” said MAGNET President Daniel E. Berry.
Manufacturers interested in applying for the program must be located in the City of Cleveland or Cuyahoga County and should register to attend a briefing session explaining the program requirements and application process that will be held at 1 p.m., Wednesday, January 25 at MAGNET, 1768 East 25th Street in Cleveland.
Following the briefing session, companies will be given until February 15 to submit a project application that details their specific technical challenge with a new or existing product. Companies must also be able to include market information on the potential for increased revenue if their particular technical challenge was solved.
Manufacturers interested in this program and attending the briefing session can register online at: http://bit.ly/magnet-event-reg.
MAGNET, which is independently governed, is important to advancing the Greater Cleveland Partnership’s mission. It has structural connections with the GCP and receives significant financial support from the GCP.
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