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JumpStart Adds Two to Team

Thursday, January 19, 2006

Provided by Daily Business News

CLEVELAND -- JumpStart Inc., Northeast Ohio's non-profit venture development organization announced two new members to their team. Roy Phelan as Executive-in-Residence and Kerri Breen joins as Investment Associate.

JumpStart advises, assists, and accelerates (invests in) early-stage businesses that have strong potential to become high-growth companies.

Roy Phelan, JumpStart's newest Executive-in-Residence will contribute to the Acceleration Group, which provides intensive mentoring support to JumpStart's portfolio companies on a regular basis via milestone-based goals to ensure their success.

"I am excited to be part of an organization that has the potential to improve the economy in Northeast Ohio," said Phelan. "I expect not only to help our portfolio companies, but also to learn from them. This is a tremendous opportunity to work with a lot of talented people."

Roy Phelan brings 25 years of business experience to JumpStart. Roy worked in the corporate world for most of his career, developing extensive skills in the information technology and industrial manufacturing industries. Most recently, Roy was a Partner at Accenture. In his years with Accenture, Roy developed skills in the areas of business development, eCommerce, supply chain management and software development/implementation. His clients included companies such as Caterpillar, Goodyear, Eveready, Yokohama Tire, Mitsubishi, Volkswagen, Paccar, Lockheed and Rockwell Automation. Roy also spent a large portion of his time working with Accenture business partners; typically smaller technology firms, helping them develop their business strategies and grow.

After leaving Accenture in 2002, Roy immediately immersed himself in the start-up world. First, he built his own four store retail franchise operation, where he took a very hands-on working approach until he sold them in 2004. After that sale, Roy became the CEO of PinPoint1, a start-up software company. PinPoint1 offered software and services that provided significant assistance to the hiring and personnel on-boarding process for the restaurant industry. Just prior to joining JumpStart, Roy leveraged his expertise to help start-up companies refine their business plans and enhance their positions to become more attractive to potential investors. Roy holds a BSME from Duke University and a MBA from University of Michigan.

"The point of JumpStart's EIR program is to bring in entrepreneurs with experience at venture-backed companies, as well as executives seeking to transition into entrepreneurship," said Rebecca Braun, Chief Operating Officer of JumpStart. "Roy is a rare breed who has both of those experiences, and we think JumpStart and the entrepreneurial community at large will benefit from his unique perspective. I think he'll be especially helpful in working with the entrepreneurs at the helm of our portfolio companies so that together they can accelerate their company's momentum, hit milestones, advance stages, and ultimately attract follow-on funding."

As an Investment Associate, Kerri Breen joins the JumpStart Investments Group which identifies companies that demonstrate the potential to attract follow-on capital, create or support high-paying jobs and generate revenues that will increase Northeast Ohio economic wealth.

Breen comes to JumpStart with several years experience in capital markets and banking. Prior to JumpStart, Kerri was a Vice President in the Syndicated Finance group at KeyBank where her emphasis was on structuring and distributing large corporate lines of credit and construction loans. From 1997 to 2002, Kerri served in the Investment Banking division at McDonald Investments, where she was involved in public and private offerings of debt and equity securities, corporate mergers and acquisitions and real estate asset dispositions. Kerri received her MBA with a focus on finance from the Weatherhead School of Management and her BA in marketing from Ohio State University.

Lynn-Ann Gries, Chief Investment Officer of JumpStart, said, "As our companies move through the varying stages of venture development, they will begin to need capital beyond the likes of what JumpStart can provide. Kerri's primary focus will be to assist our portfolio companies in accessing these next rounds of funding, be it from Series A venture capital firms, angels, corporate venture funds or government sources. Kerri's expertise in raising capital for a wide variety of clients will be a great help to our portfolio companies; we are thrilled to have her on board."

About JumpStart Inc.
JumpStart (www.jumpstartinc.org) accelerates the growth of early-stage businesses and ideas into venture-ready companies by delivering vital, focused resources to entrepreneurs in Northeast Ohio.

JumpStart identifies and invests in early-stage companies that have strong potential in the marketplace, solid prospects for high growth, and are likely to qualify for later-stage funding. Beyond investing, the JumpStart team provides a continuum of business development services to its client companies to help ensure their success.

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