AKRON, Ohio - In a vestige of Akron's industrial rubber past, more than 40 small start-ups are dreaming big new ideas.

The Akron Global Business Accelerator, in the old B.F. Goodrich building on South Main Street, is a glossy, industrial-chic space populated with businesses that range from a single employee to graduates selling products or services around the globe.

Like a Willie Wonka tech factory, the accelerator's startups run the gamut of unusual inventions:

Among other products,

Akron Ascent Innovations

My 1HR

Triple Beam Technologies

The best of both worlds

As a city of Akron initiative, Akron's accelerator offers the best of both worlds, providing professional services, seasoned mentors - on-site and through a network - and affordable rent.

The 250,000-square-foot, nine-story building is not only equipped with generously sized offices, it also features labs, manufacturing space and massive freight elevators.

"When they join our program, they're generally exiting their basement or their garage, or some kind of virtual existence," said CEO Anthony Margida. "Now, overnight, they have the professional presence where they can meet with customers and strategic partners."

More than 2,000 U.S. accelerators currently support startups that are creating most of the new jobs. That means Akron's accelerator has to remain competitive.

"We need to be top-rated to stay ahead of the game," Margida said.

The foundation of Akron's accelerator

Technology Company Acceleration is the entry point for all startups. Here they work one-on-one with mentors and entrepreneurs-in residents undergoing hands-on training in running a business.

Akron Global Business Accelerator numbers since 2010

Investments secured: $152.5 million

High-paying jobs created: 723

Sales generated: $243.5 million

Payroll generated: $110.8 million

That includes training in business assessment and modeling, customer development, legal issues and goal planning.

Once they're are ready for market entry, startups work with an entrepreneur-in-residence on a customized plan that covers the strategic areas of running their business, from planning and business development to branding and marketing to rapid prototyping.

On average, a startup operates as part of the accelerator for three to four years, but some stay on after graduation. Graduation is the point in which a company:

Has a management team in place

Has the expertise on staff to achieve its goals

Is in a sustainable financial place with sales consistently in the black

The Bit Factory

Operating in a special section of the accelerator, The Bit Factory is an intensive IT accelerator geared for app developers and coders. The facility was modeled after Silicon Valley but built to be Akron-specific through funding from the Burton D. Morgan Foundation.

About 15 young tech startups are currently in the program, which supports companies focused on the internet, software, internet-connected hardware, mobile apps and gaming.

Like Technology Company Acceleration, the Bit Factory teaches entrepreneurship through seasoned mentors, including co-founders James and Jack Hilton, who provide hands-on software business development, coding and fundraising training that's custom-designed for each startup.

Bit Factory participants:

Transfer equity in the company to the Bit Factory so it has part ownership

Have access to business capital

Run most operations virtually

Operate under no set curriculum or timeline

The Bit Factory accepts applications on an ongoing basis and chooses start-ups through a selection process.

The accelerator ecosystem

Margida refers to Akron's accelerator as an ecosystem in which collaboration reigns.

"It's as much about building a community and creating fertile ground for these companies to grow as it is to have specific programming," he said.

To that end, the accelerator hosts a monthly breakfast series in which representatives from each startup can meet with a community expert to share ideas.

In addition, the accelerator hosts about 300 special events per year, opening its doors to numerous Akron-area organizations. It also offers free business seminars to the public through the Akron Small Business Development Center.

The accelerator is also opening a cafe this year for a very specific purpose.

"It's designed to be a place where these smart, talented people can bump into one another and have some spontaneous conversations and undoubtedly launch some ideas to create something new just through these casual conversations," Margida said.