Story excerpt provided The Beacon Journal
Written by Katie Byard
Alliance is joining other cities in the region who are putting out the welcome mat to entrepreneurs, offering them funds.
Alliance has created the Alliance Startup Fund, seeding it with $300,000. The fund plans to make payment-deferred loans of up to $35,000 to promising tech startups.
Fledgling companies must be headquartered in Alliance, a Stark County city of about 22,300 residents, or agree to move there.
The fund is being created with the help of JumpStart Inc., a Cleveland nonprofit that mentors and invests in startups.
JumpStart has helped to kick off similar funds for entrepreneurs in Barberton, Wooster and Canton.
Alliance, with its fund, is saying “not only are we going to support the companies that are here and attract new ones, we’re going to try and grow our own,” said JumpStart spokeswoman Samantha Fryberger.
Entrepreneurs and others interested in learning about the new fund can attend an informational session Thursday evening at the University of Mount Union in Alliance.
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