Alliance, OH, December 17, 2013 – The City of Alliance (www.cityofalliance.com) and the Technology Accelerator Alliance (TA2) (www.techalliance2.com) have chosen the next tech-based company to receive a $35,000 low-interest loan from the Alliance Startup Fund: Wade Instruments and Service (www.wadeinstruments.com). The TA2 portfolio company, which is owned by electrical technician and teacher Dan Wade, is developing a viable alternative to expensive and cumbersome Computer Aided Design (CAD) software.
“Dan Wade is a perfect example of an entrepreneur leveraging cutting-edge technology in order to solve a real problem,” says Brad Myers, Chief Executive, TA2. “He has a solid business plan in place and now he’s ready for growth—in fact, he anticipates adding as many as three positions here by the end of 2014.”
Wade Instruments and Service currently offers two versions of CAD software: EZ Schematics and EZ Schematics Pro. Both programs allow end users to create a schematic/diagram quickly and simply. With assistance from TA2, the company is conducting market research and software validation with two major Alliance-based engineering firms. Based on this research, Wade Instruments plans to develop a cloud-based version to be released sometime mid-2014.
“I am excited to establish my company in the city of Alliance,” Wade says. “The community has recognized the value of helping tech-based businesses launch and grow here and created a really valuable economic development tool in Alliance Startup Fund. Wade Instruments and Service is benefiting from local support and access to capital.”
Alliance Startup Fund is a part of the JumpStart Entrepreneurial Network (www.jumpstartnetwork.org), a connected group of Northeast Ohio advisors, incubators, accelerators and seed funds providing a continuum of resources to accelerate entrepreneurial successes. The hyper-local loan fund was created to encourage and support young tech companies that can go on to attract additional funding, generate revenue and create new jobs in the community. Promising startups based in or willing to locate to Alliance, Ohio, can apply for payment-deferred, low-interest loans of up to $35,000.
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City of Alliance The City of Alliance is located primarily in the northeastern portion of Stark County, with a small area in the southwestern portion of Mahoning County, in Northeastern Ohio on the headwaters of the Mahoning River. Alliance offers a variety of incentives to those who wish to locate their business or industry in the City. In addition to business attraction and retention efforts, with the announcement of the Alliance Startup Fund, the City now adds supporting new business growth to its development efforts. For more information, visit www.cityofalliance.com.
Technology Accelerator Alliance (TA2) Established through a cooperative effort between the City of Alliance, University of Mount Union and Alliance Area Development, TA2 brings together technology innovators to launch ideas and accelerate the growth of businesses. With offices in the City of Alliance and on the campus of the University of Mount Union, TA2 incubates companies while connecting both student and local entrepreneurs to the real world environments of startup, early stage and successful business operations. TA2 also oversees an intense mentor-driven program. TA2 is committed to assisting all people in the Alliance community with entrepreneurial ideas to establish and grow companies around their ideas. To learn more, visit www.techalliance2.com or call 330.506.6222.