Innovation Fund awards $350,000 to five startups

Story excerpt provided by Crain’s Cleveland Business.

The Innovation Fund has awarded a total of $350,000 to five local startup companies, according to a news release from the in Lorain County-based fund.

Three of the companies — Yourefolio of Cleveland, Cormetrics of Cleveland and Revenue Conduit of Copley — received $100,000 loans that they’ll have to repay, if they’re successful. They’re required to match that money with their own funding.

The other two companies received $25,000 grants. They are NueVue of Elyria and Renewable Carbon & Electric of Chagrin Falls.

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Originally published December 23, 2015.