You don’t need to put down roots in New York or Silicon Valley to thrive in business today. John Dearborn, president of the nonprofit VC JumpStart Inc., offers three tips for maximizing resources in a mid-sized city.
A new culture of small, local companies could still use the Rust Belt's ingenuity and know-how, and the Rust Belt could use their energy and cachet. If they figured out how to work together, they might change the way things are made in America.
"We were staring into the abyss," says Baiju Shah, CEO of BioEnterprise, recalling the 2000 recession that had slowed Cleveland's economy to a crawl. "It wasn't just a cyclical thing; there were global forces at work that were going to leave us behind for good." As the city bled jobs in traditional sectors, such as manufacturing, committed competitors -- including Cleveland Clinic, University Hospitals, Case Western Reserve University, and Summa Health System -- banded together to save the city and themselves.