To replace Turning Technologies, the incubator has accepted two small software companies from Akron and Pittsburgh and is talking with 18 others. Cossler said he expects nine or 10 of those companies to be ready to move into the incubator in the next 12 months.
Another company interested in Tech Block is a software developer from Tacoma, Wash., which was founded by a Mahoning Valley native. The company has six employees and nearly $1 million in sales. The founder doesn’t need the normal startup services provided by the incubator but is attracted to the cluster of tech companies that Tech Block intends to provide, Cossler said.
People outside of the area started noticing Youngstown when Turning Technologies last year was ranked by Inc. Magazine as one of the fastest-growing private companies in the country, but attracting the Tacoma company would help greatly in marketing Tech Block, Cossler said.
Remember what I wrote about breaking the proximity rule of venture capital?