Glengary LLC, a unique new venture catalyst enterprise that draws on the expertise of some of Northeast Ohio's most seasoned top executives, recently selected the Business Administration Division at Baldwin-Wallace College to be its educational partner.
"Our belief is that most early-stage companies require both investment capital and human capital to thrive," said Thomas Tyrrell, managing director of Glengary, who was CEO of American Steel & Wire Co. and Republic Technologies International. "As part of our process, we bring to our client companies an unparalleled variety of resources in one location that would be virtually inaccessible to them in any other scenario. B-W's partnership with Glengary will contribute a critical element to this process."
In addition, Glengary principals believe that through this partnership, they can help improve Northeast Ohio's retention of its advanced-degree graduates - a key element in a thriving regional economy.
Peter Rea, Ph.D., chair of the B-W Division of Business Administration, said that while business programs at many schools continue to focus on Fortune 500 firms and large-cap case studies, B-W recognizes that smaller companies will be key drivers of future business development growth in Northeast Ohio. The region's leaders are embracing entrepreneurship as a vehicle to revitalize the Northeast Ohio economy, and the Glengary/B-W strategic partnership puts B-W students in the front seat.
"Glengary's focus on early-stage business start-ups provides students and faculty with first-hand experiences in how to start and grow new ventures," he said.
In addition, Glengary's orientation toward community involvement complements B-W's mission and philosophy.
This partnership provides an opportunity for B-W graduate students to integrate their academic learning with real-time, hands-on entrepreneurial experience. Students will have entree to start-up businesses and early-stage companies; students will have the opportunity to provide focused assistance to Glengary and its client companies by preparing and reviewing business plans, doing industry research and financial modeling, assisting with portfolio company valuations and doing other hands-on projects.
Both students and faculty will have direct contact with Glengary investors, and selected students will be invited to attend quarterly Glengary operating partner meetings, which will be held on campus.
Glengary's founding partners include a number of executives who have headed some of the region's most dynamic companies. All have worked, in their careers and through their significant community involvement, to make Northeast Ohio a better place in which to live and work. At Glengary, they will continue their efforts to maintain a viable, vibrant regional economy by creating both economic and community value.
"Doing well while doing good," is their mantra.
Glengary is founded on the premise that start-up companies need human capital as well as investment capital to become successful. It focuses on helping businesses, primarily in Northeast Ohio, to launch, grow and prosper.
Focusing on industries such as applied technologies, business services, consumer products, software and health care services and products, Glengary expects to invest a minimum of 70 percent of its capital and 85 percent of its operating partners' time in Northeast Ohio.
Where client companies may lack critical skills, Glengary provides discipline, accountability, goal-oriented processes and, if needed, interim executive management, as well as legal, accounting and other support services. Glengary and its partners are rich in cross-disciplinary skills such as executive mentoring, business process consulting, strategic planning and risk management.
Where client companies might have difficulty accessing individuals with expertise in all these fields, Glengary, with its various partners, provides it.
"Glengary's approach, believed to be the first and only one of its kind in the Midwest, offers creative, committed and open-minded entrepreneurs a comprehensive network of skills and services, normally unavailable or unaffordable to typical start-up companies. This process mitigates many of the risks associated with early-stage companies, thereby enhancing such companies' chances of success while allowing Glengary to increase the rate of return on its invested capital," said Stephen Haynes, also a Glengary managing director.
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