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North Coast Opportunities Technology Fund


Launched in 2008, the North Coast Opportunities (NCO) Technology Fund provides low interest loans of up to $125K to help high-potential Cuyahoga County technology companies complete specific value-driving projects, create new jobs and attract additional capital.

To date, the NCO fund has disbursed a total of $3.6 million in loans to 38 companies. In turn, these companies have raised nearly $50 million in additional follow-on funding, while generating more than $18 million in revenue and creating or retaining more than 140 jobs.

Who Is Eligible

  • The NCO fund focuses on high growth technology companies that are located in Cuyahoga County at the time of application.
  • All applicants must first be engaged with the Northeast Ohio ESP Network, a collaborative group of 15 incubators, accelerators, investors, research foundations and education programs partially funded by the Ohio Third Frontier's Entrepreneurial Signature Program (ESP).

How to Apply

  • Need an Entrepreneur-in Residence to help you apply for an NCO loan?
    Contact JumpStart at 216.363.3400 or by email at
    All NCO fund applicants must be sponsored by either a Jumpstart Entrepreneur-in-Residence (EIR) or a MAGNET Entrepreneurial Expert.
  • All applications will be reviewed by the sponsoring organization and the applicant's EIR to determine the potential for raising venture capital in the future. If the applicant's project is selected to move forward, the project will be reviewed and scored by the North Coast Opportunities Review Committee.

 2015 NCO Deadlines

Deadline for EIR Review & Final Application Approval Application Submission
Application Review Meeting Selection
Round 1

March 9, 2015

March 16, 2015

March 23, 2015

April 6, 2015

Round 2

May 11, 2015

May 18, 2015

May 26, 2015

June 8, 2015

Round 3

July 13, 2015

July 20, 2015

July 27, 2015

August 10, 2015

Round 4

September 14, 2015

September 21, 2015

September 28, 2015

October 12, 2015

Round 5

November 9, 2015

November 16, 2015

November 23, 2015

December 7, 2015

Loan Terms

  • The typical interest rate for an NCO loan is fixed at 5.00% for the term of the loan. However, all rates are subject to review by the NCO Selection Committee, with ultimate approval by the Cuyahoga County Department of Development and Cuyahoga County Council.
  • Quarterly interest-only payments are required with principal deferred for four years, or until a significant financing event occurs ($1.5 million or more).
  • NCO loan funds must be used to complete specific value-driving projects or initiatives that will bring the company closer to achieving follow-on funding.


The NCO loan has allowed us the opportunity to complete our market- ready product more quickly and effectively than we could have without the capital. As a result of this progress, we are more attractive to outside investment and can begin generating revenue.

John Knific, CEO of Citizen Groove

For more information contact: 

Michael May
Economic Development Administrator
2079 East Ninth St. 7th Fl
Cleveland, OH 44115
(216) 348-4847

Lorne Novick
Investment Associate
JumpStart, Inc.
6701 Carnegie Ave.
Cleveland, Ohio 44103
(216) 363-5457

NCO Technology Fund Portfolio Companies