This summer, the John W. Altman Institute for Entrepreneurship in Miami University’s Farmer School of Business launched RedHawk50 to recognize the 50 fastest growing companies founded or led by Miami alumni.
But celebrating the success of business leaders from Miami is only part of the program’s mission.
“We truly, sincerely believe that we have the opportunity here to recognize and celebrate the success of some organizations that are really making a meaningful impact and imprint on the economies in the U.S. and beyond,” said Tim Holcomb, director of the John W. Altman Institute of Entrepreneurship.
According to a press release from Miami’s University Communications and Media, Miamian-founded and led high-growth companies raised a combined $10.6 billion in venture capital and growth and private equity in the 2021-2022 fiscal year.
The process of identifying the top 50 companies starts with nominations. Companies are encouraged to nominate themselves, but anyone can nominate a company with the nominee’s name, email and company name.
Following this simple process, Terrin Williams, marketing manager for Interlink Cloud Advisors, submitted a nomination for the company and CEO, Matt Scherocman. Williams said that Scherocman, a graduate of Miami, is “always willing to get back in to participate.”
Interlink is an IT service company that provides guidance to clients in order to discover and simplify the possibilities of the Microsoft Cloud.
“To be one of the first honorees would be really cool,” Williams said. “We can use this to market ourselves within Miami for ... job applicants, candidates and ... name brand recognition … within the companies or within the university.”
The nominated companies will be asked to submit additional information to evaluate candidates’ eligibility and rank them based on three things: the company, leadership and character.
The RedHawk50 for 2023 is based on companies’ revenues in 2020, 2021 and 2022. There is a minimum requirement of $100,000 within the first calendar year over this three-year period (Jan. 1, 2020 - Dec. 31, 2022). The company must be privately held, for-profit and independent, as well as in business for three years or more, as of the award year.
Along with revenue criteria, a Miami alum, former student or group of former students must meet one or more of these leadership roles. They must own 50% or more of the company, serve as the company’s chief executive (chairman, CEO or president) and/or found the company and be an active member of the senior management team (i.e., chairman, CEO, president, COO or CFO).
The final criteria to meet is making sure the candidate and the company align with Miami’s Code of Conduct. The company must operate in a manner consistent with this code and keep the spirit, values and image of Miami.
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Finalists who meet all of the requirements will be named to the RedHawk50. They will be notified in December 2023 and invited to attend the first reception and awards gala. This event is open to anyone who wants to attend and is scheduled for March 15, 2024, at Cincinnati Music Hall.
Although the RedHawk50 finalists will attend, the ranking of the top 50 companies within this program will not be announced until the awards gala in March. At this event, the finalists will have an opportunity to pass on insight and lessons learned to the next generation of Miami business leaders.
“The primary [purpose] was to showcase to current students that other Miamians before them have gone off and created successful companies,” Sean Lane, CEO of Olive and one of the main financial sponsors of RedHawk50, said.
Olive is an AI company that bridges the divide in healthcare by providing high-tech intelligence in the revenue cycle to drive the financial health of health systems.
“The best way to [inspire students] is to really commingle those successful entrepreneurs from Miami with aspiring entrepreneurs currently at Miami,” Lane, a 2002 graduate of Miami, said.
Not only does this program recognize and celebrate alumni who have made a major impact in the business world, but it gives
hope to future entrepreneurs and Miami students who might be in the same place in a few years.
“I fully anticipate this program, RedHawk50, will help us identify alumni who succeeded and by doing that, allow students to vicariously [see] the opportunities that are in front of them,” Holcomb said.“In other words, it kind of makes what would seem impossible, possible.”
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