Story excerpt provided by The Plain Dealer.
Written by Michael C. DeAloia.
A fascinating evolutionary change in entrepreneurship has been how startup companies get financed. Gone are the days of asking for $5 million up front to build a company. Investments now come in smaller increments with financial goals and hurdles attached with each one. Entrepreneurs and investors can quickly pivot or close a business without losing a lot of cash.
To test their business models, more and more entrepreneurs are now maneuvering their companies through what’s called a “Beta stage” to determine market acceptance and their technological chops.
Let’s look at three of Cleveland’s hottest Beta stage tech companies.
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Originally published December 21, 2014.