Mission: Jumpstart inc. Unlocks the full potential of diverse and ambitious entrepreneurs to economically transform entire communities. Jumpstart inc. Combats community deterioration and lessens the burdens of government by conducting investment and other programs to enhance the economic revitalization of northeast ohio, an area which has experienced economic decline and community deterioration ("economic revitalization programs").
Programs: Entrepreneurial services and investing - jumpstart inc. Conducts its economic revitalization programs by functioning as a regional nonprofit venture development entity which supports startups and high potential small businesses who have the potential to economically transform communities. As the primary entrepreneurial economic revitalization program jumpstart inc. Encourages the creation of new employment opportunities in northeast ohio through activities supporting the launch and growth of companies with high potential for providing employment opportunities and thereby contributing to the alleviation of economic distress in northeast ohio, which has experienced economic decline and community deterioration, and enhancing its economic revitalization. Jumpstart conducts investment activities to supplement state and local government economic and job development investment and other programs directed at encouraging the initiation of growth, maturation and expansion of small businesses with a potential for providing enhanced employment opportunities and thereby contributing to an economic revitalization of northeast ohio. Jumpstart often bundles guidance from experienced venture partners with its seed investment capital. Early-stage investment from jumpstart allows these innovative companies to complete product prototypes, conduct early marketing campaigns, and add key members. Similarly, the strategic and operational guidance from venture partners enables innovation-oriented entrepreneurs to hit key growth milestones, advance through stages of the business, and attract follow-on funding. Through fiscal year 2017, jumpstart has invested more than $40 million into nearly 100 portfolio companies whose business activities were determined to be consistent with the goals of the economic revitalization program. These companies have gone on to raise more than $854,000 in total funding and generate more than $847,000 in revenue. With regard to accelerating growth, client and portfolio companies receive intensive technical support from the jumpstart team. Venture partners and mentors assigned to a client company provide guidance and to help ensure that key milestones are met. Jumpstart advisors have:1) connected jumpstart's client and portfolio companies with hundreds of resources including subject matter experts, board members, management team members, and potential customers;2) enabled jumpstart client and portfolio companies t0 meet individual milestones, including: finalizing intellectual property, securing follow-on capital, building internal systems and developing strategic partner and client relationships.
outreach and education - is a significant and critical segment of jumpstart's overall economic revitalization programs. The jumpstart outreach and education program's continuous presentation of networking events, seminars and published articles both in traditional and electronic media, combine to build a greater appreciation of the importance of entrepreneurship to the northeast ohio regional economy. The activities of outreach and education are directed to supporting networks of investors, advisors and professional service firms in order to encourage an increase in the number of successful high-potential entrepreneurial ventures in northeast ohio and thereby enhance the economic revitalization of the region. The jumpstart outreach and education program's media and event presentations continually inform and educate northeast ohio's entrepreneurs, giving visibility to the success of entrepreneurial ventures and providing support to enable a thriving entrepreneurial community. From inception through 06/30/17, the outreach and education program has: 1) communicated with more than 67,700 email subscribers and 17,909 social media followers, highlighting entrepreneurial successes as well as events for networking and learning;2) offered monthly events allowing entrepreneurs to increase their knowledge and expertise in topics important for accelerating the growth of an early-stage venture and growing a successful businessto enhance the coverage of this series many of these events and conversations are recorded and made available as podcasts, video spotlights and other content. Through 06/30/17 there have been more than 13,000 podcast downloads from the jumpstart website and more than 50,000 video views on jumpstarts youtube channel. Overall, there were more than 124,000 unique visitors to the jumpstart website in fiscal year 2017.
economic inclusion is an essential component of the economic revitalization programs that provides the initial contact and impetus to the development of seed ideas. These individuals provide education and information to individuals concerning the development and operation of small businesses in northeast ohio for the purpose of encouraging the initiation, expansion, growth, and maturation of both new and existing small business which can provide employment opportunities and thereby aid in alleviating unemployment, community deterioration and economic distress in northeast ohio and enhancing the economic revitalization of the area. Network advisors comprise the program that concentrates on assisting technology based nascent companies and small businesses with growth interest and potential. Jumpstart's staff, mentors and network of advisors guide northeast ohio's high potential entrepreneurs, assisting founders in creating and articulating high growth strategic and operational plans, accessing investment funds and moving their businesses toward key milestones. Network advisors, mentors and entrepreneurs-in-residence are successful serial entrepreneurs, seasoned investors, industry experts and/or former ceos, with significant experience. Jumpstart's advisors have a special focus on supporting women and minority entrepreneurs working in the highest growth industries. The overall advisory program is a vital aspect in the goal helping to revitalize the economic environment of northeast ohio. Jumpstart believes that the availability of experienced entrepreneurs, investors, industry leaders and executives to startup companies is critical to success. Guidance of early stage entrepreneurial endeavors provides insight, knowledge and generally broadens the vision of the entrepreneur. Economic inclusion is at the foundation and core of how jumpstart conducts business, as this genuine commitment allows jumpstart to realize the rich diversity of talent and promise that extends throughout northeast ohio. As of 6/30/17, women and/or minority leaders made up more than 53 percent of jumpstart's board of directors, while women and/or minority employees made up more than 62 percent of jumpstart's staff. Additionally, from 1/16/16 6/30/17, more than 48 percent of the companies served by jumpstart were minority owned/led and more than 40 percent were woman owned/led. We believe in accelerating the growth of these minority and women-owned businesses because it is a critical component of building and sustaining a healthy economy. These firms hold great promise for the region, as statistically, minority businesses tend to hire minority workers at more than twice the rate of non-minority firms. The challenge, however, is to grow the types of businesses that can employ much larger numbers. There is a critical gap in funding and support for early stage, minority-owned, high potential businesses that could become large companies which create jobs, wealth and prosperity. Through the economic inclusion program, jumpstart provides assistance tailored to the specific needs of this historically underserved communities to guide high impact minority and women owned businesses seeking to raise capital from private investors in order to become larger scale national and international firms. Advisors also assist targeted businesses situated in the urban centers of northeast ohio, whose businesses directly affect minority populations. By providing intensive hands-on guidance and strategic planning, these advisors enable these key entrepreneurs to articulate high growth plans, access investment funds, and move their businesses toward critical milestones. Jumpstart embeds its economic inclusion programming across all of its activities. Specific examples include:1) the jumpstart focus fund, a $10 million venture captial fund specifically dedicated to supporting female and/or minority led startups across ohio. 2) the core city: cleveland program, which provides a diverse group of traditionally underrepresented entrepreneurs and small business owners who live or own a business in the city of cleveland and its core neighborhoods with one-on-one business assistance, as well as connections to valuable community resources.