Updated: Nov 16, 2020
With financial support from the Greater Cleveland Partnership, Fifth Third Bank and JobsOhio, over 10 companies will be among the first in Cleveland to participate in ELITE, London Stock Exchange Group’s international private company development platform. The initial Cleveland cohort will be conducted virtually and is slated to begin on October 12.
Companies participating in the inaugural Cleveland cohort include David G Cotugno, Inc (DGC Tailors), The Ohio City Restaurant Group Inc (Market Garden Brewery), L & R Racing Inc (DRR USA), CMC Pharmaceuticals, Inc (CMC Pharma), The Vallejo Company (Vallejo), Neo Transportation LLC (NeoVans), Vitalia Smart Living (an OMNI Inspiration), Nirvana Analytic & Paradigm Institutional Investments and ABC Development.
“We understand the value that ELITE brings to Greater Cleveland and the entire region. We also recognize we are launching the first cohort in unprecedented times.” said Deb Janik, Greater Cleveland Partnership’s Senior Vice President of Business Growth and Development. “As a result, GCP and ELITE have agreed that a portion of GCP’s support for the initial Cleveland cohort will provide grant resources to the Cleveland area businesses to accelerate their participation.”
ELITE will work with each of the business owners to develop clear actionable plans around preparing for future growth, developing world-class strategy and operational functions, and accessing regional and global capital markets. Historically, companies who have joined ELITE have experienced seven times the growth and created four times more jobs as their industry peers.
“Now more than ever businesses need the support that ELITE can provide, and we are delighted to be able to bring our proven methodology of accelerating growth for SMB’s to the Cleveland business community,” said Thomas Tyler, Head of ELITE Americas. “We are extremely grateful to the GCP, Fifth Third Bank, JobsOhio and all our partners for their ongoing support and commitment.”
In October 2019, ELITE announced its selection of Cleveland for its Americas Headquarters. Due to travel restrictions as a result of the covid-19 pandemic, the opening of an office in Cleveland and the ELITE Global Conference have been postponed until 2021.
“We’re excited to be part of the ELITE program, offering guidance to business owners and their teams and allowing them access to unique global collaborations,” said Joe DiRocco, Fifth Third Bank regional president.