AKRON, Ohio – Sept. 28, 2018 – Bounce Innovation Hub and MAGNET, the Manufacturing Advocacy and Growth Network, are uniting efforts to expand services and establish a joint program with an office in Bounce, located at 526 S. Main St., in downtown Akron. Bounce is the region’s first open innovation hub serving the entrepreneurial and innovation community. MAGNET is the leader in helping Northeast Ohio manufacturers compete globally while growing locally.
The program, called the Iterator, is based on MAGNET’s startup program and will help physical product companies overcome the unique challenges of designing, engineering and manufacturing. Bounce currently houses several light manufacturing companies and the new first floor facility, opening in early 2019, will include a makerspace.
“Partnerships like this one with MAGNET are crucial to the success of Akron’s manufacturing companies, as well as our ability to attract new companies,” said Doug Weintraub, CEO of Bounce. “It will provide physical product entrepreneurs a full complement of resources in an innovation hub that fosters collaboration to help them grow.”
A MAGNET employee will be located at Bounce to help facilitate services and resources.
“When you make and manufacture products, you face all kinds of challenges that don’t exist for software startups,” said Ethan Karp, CEO and president of MAGNET. “This will ensure that we’re putting physical product development expertise at the fingertips of Akron’s entrepreneurs.”
The Iterator will be an additional program to Bounce’s established accelerator and incubator programs. The program will walk physical product companies through MAGNET’s established methodologies, backed by their team of experts.
“Accelerators tend to lead startups through pre-set steps, while incubators often offer open-ended space and services. The Iterator will add another dimension to these offerings at Bounce,” said Karp. “We want our startups solving meaningful problems by creating products the market wants.”