Alliance Startup Fund Chooses First Loan Recipients

ALLIANCE, Ohio, Sept. 11, 2013 /PRNewswire/ -- The City of Alliance (www.cityofalliance.com) and the Technology Accelerator Alliance (TA2) (www.techalliance2.com) have chosen the first two young tech-based companies to receive $35,000 low-interest loans from the recently launched Alliance Startup Fund: Creative Target Systems and AMVONET.

"We're so pleased to be able to provide this source of capital to these local growing firms," says Brad Myers, Chief Executive, TA2. "Both companies have shown a commitment to leverage technology in order to improve upon existing industries—and both have chosen to do so right here in Alliance."

Creative Target Systems is a veteran-owned firm based in the incubator space at TA2 that plans to create unique commercial- and consumer-grade targeting applications that rely on things such as streaming video, lasers, cellular technology and smartphone apps. AMVONET has developed a comprehensive, fully integrated software suite of e-learning solutions for industries such as education and healthcare.

"Without the funding, support and guidance from TA2, the City of Alliance and Mount Union, my company would not exist," says Scot Loveland, Owner, Creative Target Systems. "I look forward to the day when Creative Target Systems can repay these entities by bringing job opportunities to Northeast Ohio.  As a graduate of the University of Mount Union, I am also excited to continue my relationship with the institution that helped make me who I am today."

The 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. 

Applications for the Alliance Startup Fund's next round are due by October 18, 2013. Interested entrepreneurs can apply through jumpstartnetwork.org/apply.

"There is a lot of momentum around entrepreneurship in Northeast Ohio," Myers says. "The City of Alliance and our homegrown incubator program, Technology Accelerator Alliance, are proud to be a part of this push."

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.

SOURCE JumpStart, Inc.