BioEnterprise and NorTech were among six organizations named as winners of SSTI's 2011 Excellence in TBED award, serving as national models for states and regions investing in science, technology and innovation to grow their economies and create high-paying jobs. 

BioEnterprise - Increasing Access to Capital Category

BioEnterprise is a Cleveland-based nonprofit business formation, recruitment and acceleration initiative focused on accelerating the growth of biomedical companies. Recognized for its transferable market-driven model, BioEnterpise demonstrates leadership in the financing community, having assisted more than 100 clients to attract more than $1.1 billion in growth capital from grant, seed, angel, venture, and debt sources. Since 2002, BioEnterprise has evaluated more than 1,400 biomedical opportunities resulting in more than 160 clients who receive counsel from seasoned, biomedical executives with startup and growth experience.

NorTech Regional Innovation Cluster Model - Most Promising TBED Initiative Category

Through its grassroots approach to cluster development, NorTech's Regional Innovation Cluster Model puts theory into practice to overcome challenges and accelerate successful clusters to create jobs and attract capital. The impressive partnerships and model developed by NorTech are applicable for developing industry clusters across the nation that have a long-term positive economic impact. In just one year, cluster companies supported by NorTech have attracted $20.5 million in capital, created 171 jobs and generated $10.8 million in payroll.

"The success stories from this year's winners characterize why support for tech-based initiatives is imperative for improving the national economy," said Dan Berglund, SSTI president and CEO in a news release issued by SSTI. "The diversity in size and geography of these programs demonstrate that many different approaches can be taken with equally impressive outcomes."

Now in its fifth year of the awards program, SSTI has recognized 26 initiatives for their successful efforts to support the creation and growth of technology companies.The awards were presented November 8 during SSTI's 15th Annual Conference in Columbus, OH. 

For more information about SSTI, visit www.ssti.org