A Plan to Grow Cleveland’s Tech Industry - Part II
A few days past I presented an outline for growing Cleveland’s tech industry. The five proposed policies or programs were:
I. The Cleveland Technology Center (“CTC”) – A collaborative hub of thought and development that becomes the centerpiece of Cleveland’s investment in the tech industry. This is a physical space, a state-of-the-art tech-based facility.
II. The Cleveland Ventures Fund (“CVF”) – A technology-centric fund that will invest in promising technologies, partnerships within the City of Cleveland. Goal was to secure $100.0 million to be invested in Cleveland-based tech-companies.
III. The “Information Technology” Cradle – Creation of special zones along Euclid, Superior and Carnegie that allow for heavy concentration of tech companies and new real estate development.
IV. Cleveland Municipal Schools Tech Vision – The Mayor’s Office and the CEO of the Cleveland Schools creating a special tech-based curriculum for top students.
V. “Tiger Teams” – A specialized group formed to target middle-market tech and biotech firms and assist them with the relocation of their corporate headquarters or R&D facilities to the City of Cleveland. Today, I thought of adding some detail to the first policy/program – the Cleveland Technology Center (“CTC”). The original idea behind the CTC was to construct a “best-in-class” building that would offer safe haven to fledgling technology development while at the same time to enhance capital market access and professional service. I suspect the philosophy behind this notion was to appease the real estate developers at the time (remember this plan was developed in late 2001). But the idea of constructing a bustling center right at Public Square was a pretty provocative notion at the time (and honestly it remains so – to have so much of the center of Cleveland as a large surface lot is very disturbing). My original plan was to work with local real estate developers to construct a 30-45 story tower where the planned Ameritrust Tower was to be built on Public Square. Working with the Mayor’s Office and City Planning (i.e. the Planning Commission) the goal was to fast tract the building not as a symbolic gesture (as economic development has often become in Cleveland) but as an orchestrated effort to create a lasting impression of Cleveland’s willingness to develop and promote its technology industries. The CTC was to become an architectural bridge between the Warehouse District and Gateway (and to provide the completion of Public Square). I had high expectations that additional development of apartments, condominiums and specialty restaurants and retail would begin after the construction of the CTC. A noble goal and vision of the plan was to, yes, help centralize tech development but to also spur further downtown development especially in the Warehouse District which has great vibrancy but feels incomplete. The building was to become a collaborative atmosphere where the entrepreneur, capital market experts, commercialization specialists, academics, students and professionals versed in technology in technology issues would work (in perfect harmony, mind you). Imagine a center where the large tech companies in the U.S. – Apple, Microsoft, Oracle, etc. – would establish their local offices are presence (as opposed to the suburbs), while local tech companies are being created in large incubators. National and regional venture capital groups would support small local offices, as well as National and regional law firms and accounting firms would house their tech-based consultancies and practices. I believe, as an entrepreneur myself, that it would be of great benefit to find new technologies, key management personnel, financing and professional services all in one place. All commercialization efforts of all the regional universities – University of Akron, Case Western Reserve University, Cleveland State University and Kent State, and others – would also find a home in the CTC. With entrepreneurs to the left and venture capitalists to the right, the idea was to foster a collaborative home where opportunity could be found, management could be secured and financing could be had. Another key component of the CTC would be a classroom area for students in the Cleveland Municipal School system; a full selection of e-Business and technology classes could be taught from thought leaders in the local tech scene, nationally recognized professors, venture capitalists, attorneys and accountants. These classes would be unlike anything currently being taught – ANYWHERE! Just imagine the great knowledge transfer from national tech companies, local entrepreneurs, and cutting edge technologies being granted to our next generation. The final component of the CTC was an additional tool to support future generations and to provide technical training and entrepreneurship to the neighborhoods. A small number of mini-incubators would be developed in the various neighborhoods in Cleveland. I originally planned on creating these mini-incubators in Collinwood, Tremont, Fairfax, South Broadway and Glenville. The goal of these mini-incubators would be to understand how the various ethnic neighborhoods and economically-challenged areas of the City interact and utilize technology; decipher via research the extended opportunities of these interactions and to drive the commercialization of such usages toward profitable technology applications. There has been no other tech economic development plan that incorporates the “neighborhood-based” commercialization concept. The City of Cleveland would be the only city that would be creating a life-long continuum of tech development and entrepreneurship. If the goal is to create a Cleveland as the new model in tech development then the CTC could become a great catalyst to rally around.
II. The Cleveland Ventures Fund (“CVF”) – A technology-centric fund that will invest in promising technologies, partnerships within the City of Cleveland. Goal was to secure $100.0 million to be invested in Cleveland-based tech-companies.
III. The “Information Technology” Cradle – Creation of special zones along Euclid, Superior and Carnegie that allow for heavy concentration of tech companies and new real estate development.
IV. Cleveland Municipal Schools Tech Vision – The Mayor’s Office and the CEO of the Cleveland Schools creating a special tech-based curriculum for top students.
V. “Tiger Teams” – A specialized group formed to target middle-market tech and biotech firms and assist them with the relocation of their corporate headquarters or R&D facilities to the City of Cleveland. Today, I thought of adding some detail to the first policy/program – the Cleveland Technology Center (“CTC”). The original idea behind the CTC was to construct a “best-in-class” building that would offer safe haven to fledgling technology development while at the same time to enhance capital market access and professional service. I suspect the philosophy behind this notion was to appease the real estate developers at the time (remember this plan was developed in late 2001). But the idea of constructing a bustling center right at Public Square was a pretty provocative notion at the time (and honestly it remains so – to have so much of the center of Cleveland as a large surface lot is very disturbing). My original plan was to work with local real estate developers to construct a 30-45 story tower where the planned Ameritrust Tower was to be built on Public Square. Working with the Mayor’s Office and City Planning (i.e. the Planning Commission) the goal was to fast tract the building not as a symbolic gesture (as economic development has often become in Cleveland) but as an orchestrated effort to create a lasting impression of Cleveland’s willingness to develop and promote its technology industries. The CTC was to become an architectural bridge between the Warehouse District and Gateway (and to provide the completion of Public Square). I had high expectations that additional development of apartments, condominiums and specialty restaurants and retail would begin after the construction of the CTC. A noble goal and vision of the plan was to, yes, help centralize tech development but to also spur further downtown development especially in the Warehouse District which has great vibrancy but feels incomplete. The building was to become a collaborative atmosphere where the entrepreneur, capital market experts, commercialization specialists, academics, students and professionals versed in technology in technology issues would work (in perfect harmony, mind you). Imagine a center where the large tech companies in the U.S. – Apple, Microsoft, Oracle, etc. – would establish their local offices are presence (as opposed to the suburbs), while local tech companies are being created in large incubators. National and regional venture capital groups would support small local offices, as well as National and regional law firms and accounting firms would house their tech-based consultancies and practices. I believe, as an entrepreneur myself, that it would be of great benefit to find new technologies, key management personnel, financing and professional services all in one place. All commercialization efforts of all the regional universities – University of Akron, Case Western Reserve University, Cleveland State University and Kent State, and others – would also find a home in the CTC. With entrepreneurs to the left and venture capitalists to the right, the idea was to foster a collaborative home where opportunity could be found, management could be secured and financing could be had. Another key component of the CTC would be a classroom area for students in the Cleveland Municipal School system; a full selection of e-Business and technology classes could be taught from thought leaders in the local tech scene, nationally recognized professors, venture capitalists, attorneys and accountants. These classes would be unlike anything currently being taught – ANYWHERE! Just imagine the great knowledge transfer from national tech companies, local entrepreneurs, and cutting edge technologies being granted to our next generation. The final component of the CTC was an additional tool to support future generations and to provide technical training and entrepreneurship to the neighborhoods. A small number of mini-incubators would be developed in the various neighborhoods in Cleveland. I originally planned on creating these mini-incubators in Collinwood, Tremont, Fairfax, South Broadway and Glenville. The goal of these mini-incubators would be to understand how the various ethnic neighborhoods and economically-challenged areas of the City interact and utilize technology; decipher via research the extended opportunities of these interactions and to drive the commercialization of such usages toward profitable technology applications. There has been no other tech economic development plan that incorporates the “neighborhood-based” commercialization concept. The City of Cleveland would be the only city that would be creating a life-long continuum of tech development and entrepreneurship. If the goal is to create a Cleveland as the new model in tech development then the CTC could become a great catalyst to rally around.
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