During economic strife Cleveland’s Civic Innovation Lab finds people of extraordinary talent with extraordinary ideas and helps them set up their business. To get funding all you need is a great idea, a lot of ambition, the need for help, and of course the willingness to accept the mentorship fees.

Lab Services/Process:

• Provide workshops to focus new ideas into business models: They get their clients well-versed in business in order for them to be able to compete in the hectic market.
• Coach top candidates on presentation skills in order to make sure they can perform. The importance of this is to get the board mentors to buy the idea.
• After the board accepts the innovation funding is given.
• The last step is the mentors share their expertise with the client in order to keep their idea thriving.

Why does it matter?

Because you have to support innovation and company creation at the earliest stages. Without this immediate help good ideas can die fast. Many of the time these good ideas are community based and their success is imperative.
Examples of these community ideas:

• Car services akin to Zip Car
• Using recycled glass from restaurants to make new items such as coasters
• A new school that helps center city kids.

Success and Failure:
Constantly in touch with their clients to figure out their revenue.

Civic Innovation Lab Actual Stats:
24% Have complete success
43% Have a promising outlook
10% Are struggling
23% Have failed and are no longer active

After failure if you have a new idea you are still eligible with a new idea.

Share the Model!
Speaker Jennifer Thomas believes their model is completely flexible and scalable and should be used in new communities. Every community has entrepreneurs with a need for mentorship. This system helps cultivate these ideas and gives the innovators the guidance they need in order to implement said ideas.