Cleveland Chain Reaction
, an economic development program which recently chose to invest in Slavic Village
, has narrowed its search down to 10 neighborhood businesses, five of which will ultimately receive an investment. Each of the five businesses will receive at least $130,000.
Chain Reaction is an offshoot of the LeBron James/Maverick Carter-produced Cleveland Hustles
reality show, which was broadcast on CNBC last summer and responsible for the growth of businesses like Cleveland Bagel and Fount in Detroit Shoreway.
After a June 24 showcase at the Alex Theater in the Nine, which featured 24 businesses give a 12-minute or less presentation to the investors, the field was narrowed down to these final 10 businesses:
-Baby Munch, a baby food company
-Distinct CLE, which makes Cleveland-specific gift baskets
-Holmes Mouthwatering Applesauce
-Lina Wines LLC
-Midwest Blanks, a clothing company
-Revival Body Care
-Sides to go BBQ
According to a press release from the group, each business was selected for its potential growth and impact on jobs and investment in Greater Cleveland.
“Throughout this process, we have met so many innovative entrepreneurs who all share a deep-rooted passion for our community and for our mission of creating economic prosperity for all residents,” said Lillian Kuri, Cleveland Foundation investor for Chain Reaction, in the statement. “We look forward to partnering with the finalists to bring their ideas to scale in Slavic Village, which we hope will set off a chain reaction throughout Greater Cleveland.”