Since its inception, JumpStart has had quite a substantial economic impact in this region.
Tens of thousands of stakeholders in entrepreneurship in Northeast Ohio have been engaged, thousands of entrepreneurs have received guidance, dozens have received significant direct investments to date and JumpStart has helped companies in Northeast Ohio raise over $100M in follow-on funding in our first four years.
JumpStart's Impact - As of 12/31/09
JumpStart impact overall
- $76 Million in economic impact generated in 2008.
- $176 million in total economic impact generated when adding 2006, 2007, and 2008.
- $8.3 million in Federal and State taxes generated in 2008, almost as much as the JumpStart annual budget (including investments).
- $20.9 million in household income generated.
- 604 jobs created since inception (direct and indirect).
- Over $186.7 million in total capital raised by client and portfolio companies.
- Over 34,000 members of the entrepreneurial community have heard about JumpStart, through our outreach.
- Over 7,380 initial inquiries from entrepreneurs (17% from diverse entrepreneurs) with over 2021 entrepreneurs officially engaging with JumpStart.
- Over 99,200 hours of free assistance provided.
JumpStart recognition overall
- National recipient of the 2009 Excellence in Urban and Suburban Economic Development Award from the U.S. Department of Commerce’s Economic Development Administration (announced June 2009).
- National recipient if the 2009 Excellence in Technology-Based Economic Development award in the Increasing Access to Capital category from the State Science and Technology Institute (SSTI) (announced October 2009).
- JumpStart’s work featured in The Wall Street Journal, The Chronicle of Philanthropy, The New York Times, PARADE, and USA Today.
JumpStart Ventures impact
- 45 portfolio companies, which have received 58 investments. (Several companies have received more than one investment from JumpStart as the company has hit milestones of progress and additional capital has been needed.)
- $15.7 million invested in the portfolio companies.
- Companies themselves have raised $88.6 million in follow-on funding to the Ventures investment.
- 13 of the 45 companies are founded or led by diverse entrepreneurs, and those companies have raised $26.7 million in follow-on funding (this $26 million included in the $88.6 million above).
- Companies have created 311 jobs.
JumpStart Inclusion Advisors impact (the group started in May 2009)
- 29 clients supported outside of those clients also working with JumpStart Ventures or JumpStart TechLift Advisors.
JumpStart TechLift Advisors
- 461 total clients supported since inception (June 2007).
- $30.0 million in external funding raised since working with JumpStart TechLift Advisors (excluding JumpStart investment).
To explore further opportunities for partnering with JumpStart, please contact John Dearborn, Chief Development Officer at 216.363.3427 or email support@jumpstartinc.org.