At JumpStart, economic inclusion is at the core of how we do business. It’s a genuine commitment that allows us to realize the rich diversity of talent and promise that extends throughout Northeast Ohio.
JumpStart Inclusion Advisors guides high impact minority and women-owned businesses seeking to raise capital from private investors in order to become larger scale national and international firms. It also assists high impact businesses situated in the urban centers of Northeast Ohio, whose businesses directly impact minority populations. By providing intensive hands-on guidance and strategic planning, it enables these high impact entrepreneurs to articulate high growth plans, access investment funds, and move their businesses toward key milestones. President of JumpStart Inclusion Advisors, Darrin Redus, blogs regularly on topics relevant to minority and women-owned businesses on the IdeaExchange blog.
What is Inclusion at JumpStart?
JumpStart believes accelerating the growth of minority and women-owned businesses 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.
JumpStart Inclusion Advisors Clients
Entrepreneurs who work with JumpStart should be located in Northeast Ohio’s 21 counties, have sales under $10 million, and have a high potential, breakthrough idea or company. In addition to that, companies that qualify for JumpStart Inclusion Advisors’ guidance:
- Have minority or female ownership of at least 51%.
- Have a clear vision and desire to grow the business to at least $15 million in annual revenues and service clients across a multi-state geography.
- Have a large potential market for their business, typically more than $500 million.
- Have leadership committed to growing the business.
- Have a desire to raise investment capital from external investors.
If you wish to work with JumpStart, click here to get started. A JumpStart associate will contact you.
JumpStart Inclusion Advisors in Action
The JumpStart Inclusion Advisors strategy is to provide broad and deep support for its clients.
JumpStart Inclusion Advisors seeks broadly to increase the number of JumpStart Ventures investments in minority and women-owned businesses. Additionally, they aim to increase the awareness and engagement in all JumpStart activities for diverse entrepreneurs. This on-going commitment has created significant impact. Since 2004, JumpStart has:
- Discussed business ideas with almost 1,000 entrepreneurs.
- Reviewed over 450 Executive Summaries.
- Intensively assisted 34 companies.
- Invested in 12 companies owned or led by women and minorities.
Its 18 investments in these 12 companies represent over $4 million in total investment, and these companies have raised over $20 million so far in follow-on funding.
To better meet the needs of these diverse entrepreneurs, JumpStart Inclusion Advisors adds three deeply focused approaches to achieve significant economic impact.
Outreach:
The team has pursued a collaborative outreach strategy with over 20 regional and national collaborating partners to champion the potential and successes of minority and women-owned businesses. Some examples include:
- Partnering with leading national organizations on economic forums and seminars.
- Participating in targeted newsletters, print media, radio, panel discussions and other efforts geared toward developing a strong pipeline of diverse firms.
Intensive Hands-On Assistance:
To ensure that the growing number of firms in the pipeline are appropriately prepared to compete for investment capital, JumpStart Inclusion Advisors helps its clients develop critical components of their business plans and strategies that are most relevant to investors. This includes, but is not limited to:
- Defining the business value proposition.
- Comparing and contrasting key competitors.
- Monetizing the overall market potential.
- Identifying a viable niche market.
- Developing any intellectual property or other key barriers to market entry.
Access to Investment Capital:
In addition to making 18 investments in 12 diverse companies leading to over $24 million to date in total investment, the team is further connecting its minority and women clientele to niche Angel and Private Equity firms across the country through organizations and events such as:
- The Marathon Club’s Deal Makers Summit
- The Initiative For A Competitive Inner City’s Capital Connections Conference
- Conceiving of and creating the Emerging Market Fund, a for-profit angel fund investing in high impact minority businesses or high growth inner city firms.
- The Minority Angel Investors Network (MAIN)
- Phenomenelle Angels
- Golden Seeds, LLC
If you have just heard about JumpStart and want to learn more, read about what we do.
JumpStart supports all entrepreneurs in Northeast Ohio through its other programs and services including IdeaCrossing, events, and communications.
Still confused about where you fit? Try our FAQs for more information.