See the latest JumpStart news here. Click on a headline to read the release in its entirety. Releases older than one year can be found on the Archives page.
Media inquiries should be directed to Cathy Belk, JumpStart's Chief Marketing Officer, via email at Cathy.Belk@jumpstartinc.org or phone 216.363.3400.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the progress of high growth early-stage businesses, announces a JumpStart Ventures investment commitment of $250,000 in Myers Motors LLC, a Tallmadge, OH company manufacturing electric vehicles.
The investments and activities of JumpStart Inc., the Northeast Ohio venture development organization that accelerates the progress of high growth early-stage businesses, generated $75.7 million in economic output impact in 2008 in Northeast Ohio, according to a recent study conducted by the Center for Economic Development at Cleveland State University. This is a 29 percent increase from JumpStart’s 2007 impact of $58.5 million. The report also highlighted $8.3 million in taxes generated, 502 jobs created or retained, and $20.9 million in household income generated in 2008 due to the activities of the organization.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the progress of high growth early-stage businesses, and Case Technology Ventures (CTV), a pre-seed stage venture capital and technology validation fund at Case Western Reserve University, recently announced an investment commitment of $375,000 in Neuros Medical, Inc., a Cleveland, OH company commercializing neurostimulation technology developed at Case Western Reserve University.
JumpStart Inc., the nationally recognized Northeast Ohio venture development organization that accelerates the growth of early-stage businesses, announces that it has packaged its entrepreneurship offerings into three distinct lines of business: JumpStart Inclusion Advisors, which guides high impact minority and women-owned businesses; JumpStart TechLift Advisors, which serves the region's high potential technology entrepreneurs; and JumpStart Ventures, to invest in the region's most promising ideas and work with their entrepreneurs to build great companies.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, recently announced an investment commitment of $275,000 in iGuiders, Inc. The Cleveland-based information technology company is developing a guided Internet search technology that simplifies complicated searches through the use of question and answer logic.
Even in the challenging economic environment of 2008, more companies in the Cleveland Plus region received investment last year than in any of the last five. According to the 2008 Venture Capital Report for the Cleveland Plus region, 73 companies received $259 million in investment capital in 2008. This Report is compiled by the Venture Capital Advisory Task Force and will be released in printed version in mid-February.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, recently announced an investment commitment of $350,000 in BSKLive, Inc. The Cuyahoga County company’s flagship product, StaffKnex, is a web-based software as a service (SaaS) application that manages employee scheduling and staffing emergency resolution for companies in healthcare and other industries with shift-based workforces.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, recently announced an investment commitment of $400,000 in Wireless Environment, LLC, an Elyria, OH company developing and patenting technologies for use in a wide range of lighting products that use light emitting diodes (LEDs).
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, today announced the close of an equity investment commitment of $380,000 in VasoLux MicroSystems, LLC, a company developing a minimally invasive device that measures the quality of cartilage. The technology will aid in not only identifying osteoarthritis, a condition caused by the degradation of cartilage that affects more than 20 million Americans, but in determining the most effective treatment plan.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, announced an investment commitment of $400,000 in DIY Real Estate Solutions (DIY), a Cleveland-based software developer that offers a complete management solution to the residential rental property management market.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, is pleased to announce two new additions to the management team. John Dearborn joins as Chief Development Officer and Cathy Belk as Chief Marketing Officer.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, today announced the close of an equity investment commitment of $380,000 in Freedom Meditech, Inc., a developer of a proprietary non-invasive ocular glucose measurement device for people with diabetes. The company’s device is based, in part, on patented technology developed at the University of Toledo.
The Center for Economic Development (CED) at Cleveland State University’s Maxine Goodman Levin College of Urban Affairs and JumpStart Inc. have released their third annual report summarizing the findings of an entrepreneurship confidence survey (conducted from May 30 to June 30, 2008) to assess the entrepreneurial climate and entrepreneurs’ confidence in their ability to start and sustain a business in Northeast Ohio.
JumpStart Inc., the Northeast Ohio venture development organization that accelerates the growth of innovative early-stage businesses and ideas, recently announced an investment commitment of $350,000 in MesoCoat, Inc., a wholly-owned subsidiary of Powdermet, Inc. MesoCoat was formed from Euclid-based Powdermet in 2007 to commercialize and further develop its line of proprietary, patented, environmentally-friendly nanocomposite coating materials and application technologies.
Last year the NorTech Venture Capital Advisory Task Force reported in its inaugural 2006 Venture Capital Report that the region would need to generate and attract over $1.2 billion in venture capital by 2011 in order to meet the capital needs of companies located in Northeast Ohio. According to the findings from the recently completed 2007 Venture Capital Report of the Cleveland+ region, to be released in print mid February, Northeast Ohio has made significant progress toward reaching this goal. With $318 million in new investments, compared to $157 million in 2006, the region saw a doubling in the amount of capital invested into its growing companies as well as a 40 percent increase in the total number of investments made during 2007.