MAGNET’s Prism program helped Cleveland-based Vitamix keep up with demand for its high-end blenders.
Sophisticated life support equipment in an air ambulance made by Nextant Aerospace, Ohio’s only aircraft manufacturer and a MAGNET client
MAGNET incubator graduate, DXY Solutions, makes components and software for mobile devices.
MAGNET consultants helped Nextant Aerospace of Richmond Heights, Ohio, apply lean principles to its specialty business of remanufacturing corporate jets for an under-$5 million market.
MAGNET incubator tenant Tom Lix, the founder and CEO of Cleveland Whiskey, which has developed a proprietary process for accelerating the aging of distilled liquorsMAGNET, a longtime foundation grantee previously known as the Cleveland Advanced Manufacturing Program (CAMP), is making an important transition from its former emphasis on helping local manufacturers solve specific problems to its new focus on establishing long-term consulting relationships that will help manufacturing CEOs grow their companies.
With the support of a Cleveland Foundation grant of $400,000 awarded in 2011, MAGNET has begun to develop a comprehensive network of experts and resources to which its clients can be directed for assistance. Called PRISM (Partnership for Regional Innovation Services to Manufacturers), MAGNET’s new program seeks to help companies with annual sales of between $10 million and $500 million create new products and enter new markets, thus propelling double-digit percentage sales growth.
A second foundation grant of $400,000 awarded in early 2013 will enable MAGNET to expand PRISM’s portfolio of clients with an eye to fostering the creation of 20,000 new jobs in northeastern Ohio by 2020.