Story excerpt provided by Crain’s Cleveland Business.
Written by Chuck Soder.
Five local startup companies have raised $275,000 from the Innovation Fund at Lorain County Community College.
Two companies received $100,000 non-recourse loans, which only need to be paid back if the companies are successful. The other three received $25,000 grants, according to a news release from the Fund.
The loans went to Apollo Medical Devices of Cleveland, which is developing a portable device designed to analyze a patient’s blood using only one drop, and Groupmatics, a Westlake-based company that sells software for managing group ticket sales.
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Originally published September 2, 2015.