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JumpStart Invests in Nine Iron Innovations

Friday, March 10, 2006

JumpStart Inc., Northeast Ohio's non-profit venture development organization announced an investment commitment of $300,000 in Cuyahoga County-based, Nine Iron Innovations (d/b/a Charitee Golf).

“We are very encouraged by the response the product has received in its alpha release,” offered JumpStart Chief Investment Officer; Lynn-Ann Gries. “Continued interest from potential new customers in addition to the recently inked partnership with IMG gives JumpStart confidence that this business model has significant potential,” Gries added.

“In golf, timing is everything. We’ve worked hard to perfect the Charitee hole-in-one monitoring system and now’s the time to begin rolling out the system to a broader range of courses,” said Nine Iron founder Mike Burkons.

“Our partnership with JumpStart provides the financial, strategic and marketing resources we need to launch and to do it right,” Burkons concluded.

About Nine Iron Innovations

Using surveillance cameras and transaction kiosks, Charitee Golf enables golf courses to run hole-in-one contests continually. Each golfer gets a chance to win a cash prize or pay for upgrades to win bigger prizes such as Harley-Davidson motorcycles or Hummers. Charitee hole-in-one monitoring systems are currently installed at golf courses in Ohio, and now installing at courses in Arizona and Florida.

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.