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Sunday, March 22, 2015

The money's out there, if you look hard enough - Crain's Cleveland Business


THE INSIDER



The money's out there, if you look hard enough


Entrepreneurs should be stalking investors on social media. So long as they're not creepy about it.

It worked for Mike Belsito, who recently released an e-book called “Start Up Seed Funding for the Rest of Us: How to raise $1 million for your startup even outside of Silicon Valley.”


The local entrepreneur describes how he identifies investors on AngelList ... then hunts for common connections on LinkedIn ... replies to them on Twitter ... and then comments on their blogs.


That technique is one of many laid out in the 112-page e-book — a step-by-step guide based largely on Belsito's experience raising $1 million for eFuneral, a now-defunct company that helped people shop for funeral homes online.


Even experienced entrepreneurs don't realize how easy it is these days to build relationships with investors and other people who can help your business, wherever they live, Belsito says.


For instance, he used Twitter to establish a relationship with David Cohen, who helped start Techstars — one of the best-known startup accelerator programs in the world. Cohen didn't invest in eFuneral, but he served as an adviser to the company.


He used similar techniques to find people who could help him write and promote the book. For instance, Belsito asked 30 or 40 influential entrepreneurs and investors for feedback on a near-finished version of the book, though he had few ties with them. When the book was done, he sent each of them a personalized email.


That was a good move: Brad Feld, another Techstars co-founder who has a few books of his own, mentioned the book to his 200,000-plus Twitter followers. One of them then submitted it to ProductHunt.com, a website that's popular among people who like hot new products. The book became the top product featured that day.


It was downloaded about 5,000 times during that first week, when it was free. It now costs about $3 on Amazon.com. People from Belsito's network also wrote reviews on Amazon: The book has 25 five-star ratings and one four-star rating as of March 20. — Chuck Soder



But how's their bedside manner?


The future is here: Robots are coming to Summa Health System.

No, it's not a takeover by Terminator's T-1000 or even a dig at administrators, but the Akron-based health system is installing two robots — one at Akron City Hospital and another at Barberton Hospital — that will allow neurologists to perform real-time audiovisual consultations with emergency medicine teams to more quickly halt stroke damage.


The burgeoning telemedicine program is through a partnership with California-based InTouch Health. In a news release, Summa said acute stroke care is a time-sensitive issue given the small window for treatment and often limited access to stroke specialists. The quick consultations will speed the delivery of clot-busting drugs, such as tPA, that can halt and reverse stroke damage.


“Our robots, in effect, will serve as a portal through which a stroke specialist anywhere can be virtually present at a moment's notice,” said Dr. Susana Bowling, Summa's medical director for neurosciences. — Timothy Magaw



The children are our future


The Timken Co. is preparing for a new generation of educated workers — by helping to educate the children of its current workforce with millions in scholarships.

Last week, the company announced it was awarding 17 scholarships, with a four-year value of up to $540,000, to 17 sons and daughters of Timken employees at 11 sites around the world. That makes $21 million in scholarships that the company has handed out, since it began its program in 1958.


This year's two biggest awards — the $35,000 Henry Timken Scholar Award and the $25,000 Jack Timken Scholar award — went to Bogdan Konnerth and Minna Schut, respectively. Konnerth is the son of a Timken engineering manager in Romania. Schut is the daughter of Jeffrey Schut, principal inventory planner at the company's headquarters in Canton.


Scholarships also went to Ryan Springer, whose father, Thomas, is a program manager for Timken in Canton, and Shreyas Chaudhari, whose father, Rahul, is manager of manufacturing technology for the company, also in Canton. — Dan Shingler



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