An Entrepreneurial Ecosystem

Businesses are like plants: They need the right environment to grow. A solid foundation (like soil) and advice (like sunlight and water) are elemental. TechGROWTH Ohio (TGO), a program of Ohio University’s Voinovich School of Leadership and Public Affairs, plays the role of master gardener for entrepreneurs in southeast Ohio.

As a public-private partnership between Ohio University, Ohio Third Frontier, and private investment companies, TGO has been a game-changer for technology startups in the region. It has fostered companies with innovations and technologies “unlike any other” on the market, says Lynn Gellermann, its executive director.

An entrepreneur often begins with an idea, then struggles to get the resources to turn that idea into a successful business venture. TechGROWTH Ohio has been the region’s resource since 2007, connecting more than 2,000 entrepreneurs with services like market research, consulting, and financial planning. And as that entrepreneur’s ideas are realized and the startup grows, TGO grows with them, helping with funding, hiring, and establishing a company structure.

“TechGROWTH helps entrepreneurs bridge gaps and find resources while guiding their new technology idea to the marketplace so it can grow,” says Jane New, TechGROWTH manager of investments & new venture development.

For Global Cooling, Inc., TGO has made all the difference.

“They have been a really important part of our success,” says Neill Lane, the company’s president and CEO. The program was “there right from the beginning,” he says, helping the company, which develops and manufactures ultra-low-temperature freezers, identify a market for its unique and energy efficient technology. Global Cooling now has more than 100 employees and offices in Athens and Columbus, Ohio, and in Lexington, Kentucky.

Global Cooling’s success isn’t just about sales. The company actively works to create a culture of accountability and transparency. How? One example is the quarterly book club the company hosts, which encourages employees to discuss topics like emotional intelligence and communication. Efforts like this earned Global Cooling TGO’s 2019 Best Startup Culture Award.

“Whether you want it or not, you have a culture, so it’s really important to kind of create the culture that makes sense and lifts the business,” Lane says.

A company culture that rewards innovation and entrepreneurship is a company that has a better chance at succeeding in the business landscape, Gellermann says.

“Success begets success, so with more winning entrepreneurs and startup companies, we have more shared examples for people and institutions to see and experience.” Gellermann says.