Pop culture and Northeast Ohio’s culture of innovation combine to create this short, fun (but fact-filled) quiz. See how well you know one of America’s best entrepreneurial ecosystems.
1. What is Ohio?
a. Home to the nation’s first traffic light
b. The birthplace of Steven Spielberg, Paul Newman, Annie Oakley, Arsenio Hall, and Clark Gable
c. The state that provides the most funding in the nation to help in the creation of technology-based companies, industries, and jobs
d. All of the above
Answer: d. All of the above. Did you know that the State of Ohio has dispersed $1 billion and plans to allocate an additional $2 billion to organizations throughout Ohio in order to spur the creation of technology-based businesses, industries, and jobs? As of 2009, the State has received a $4.8 billion return on its investment through its Third Frontier program.
2. What is equal to more than $1 billion?
a. The value of Groupon, the fastest-growing company in Web history
b. The value of Mukesh Ambani’s house in India
c. Venture capital and angel investments in Northeast Ohio companies since 2006
d. All of the above
Answer: d. All of the above. Over the last five years, startup firms across the region have raised over $1 billion from venture and angel investors. Between January 1, 2010 and November 15, 2010 alone, the region’s early-stage companies raised $154 million, exceeding peer regions Pittsburgh, Minneapolis-St. Paul, Detroit-Ann Arbor, and Buffalo.
3. What is 400?
a. The number of calories in a Burger King Whopper Jr.
b. The Common Era year in which the term 'chemistry' was used for the first time by Alexandrian scholars for the activity of changing matter
c. The number of venture capital and angel deals that took place over the last five years in Northeast Ohio
d. All of the above
Answer: d. All of the above. Not only are Northeast Ohio early-stage businesses raising money and partaking in more deals than any other region in the State, they also continue to attract out-of-region investors. In 2010, the region’s startups attracted $74 million from investors outside of Northeast Ohio and $70 million from investors outside the state.
4. Who spent $493 million?
a. IBM on airline tickets alone in 2004
b. Google on payroll and facilities costs in 2007
c. Northeast Ohio colleges and universities on research in 2008, outpacing the remainder of Ohio and the nation
d. All of the above
Answer: d. All of the above. Northeast Ohio is committed to investing in research that drives the development of innovative technologies. In 2006, the region’s academic and industry-based research resources invested approximately $2.2 billion on research and development activities. Between 2000 and 2008, university research expenditures grew by 50%, outpacing the remainder of Ohio, the Midwest, and the nation as a whole.
5. What has the media covered on more than 5,000 occasions over the past five years?
a. The World Cup and the Super Bowl
b. Jim Tressel and Archie Griffin
c. Northeast Ohio entrepreneurs and early-stage companies
d. All of the above
Answer: d. All of the above. Northeast Ohio’s ecosystem reaches national and international audiences through such media vehicles as The New York Times, The Wall Street Journal, USA Today, The Chronicle of Philanthropy, The Deal, and Entrepreneur magazine.
6. Who ranks in the top 10?
a. Benjamin Franklin on the MSNBC “History’s 10 Greatest Entrepreneurs of All Time” list
b. Steve Jobs on the Newsweek “Most Important People in 2010” list
c. Northeast Ohio on Entrepreneur magazine’s “Where to be an Entrepreneur” list
d. All of the above
Answer: d. All of the above. Northeast Ohio is recognized as one of America’s best entrepreneurial ecosystems by policy makers, investors nationwide, and entrepreneurs for obvious reasons. Home to 35% of Ohio’s population, the Northeast Ohio region raises 50-60% of all venture capital and angel funds in the State and has received 44% of the State’s investment dollars through the Ohio Third Frontier program. Additionally, the region is home to six incubators and business accelerators, six pre-seed and seed funds, three specialized support organizations focused on entrepreneurs and innovators, two minority and women-owned business support organizations, an education collaboration council, and an online community.
After taking our quiz, I hope you too are convinced that Northeast Ohio is truly one of America’s best entrepreneurial ecosystems. If you are an entrepreneur working to launch a business in the region, visit
JumpStartNetwork.org for more information on how you can take advantage of our ecosystem’s nationally-recognized resource providers.
Leah’s primary focus as JumpStart’s Market Analyst is developing a deep understanding of the key challenges and opportunities facing entrepreneurs and early-stage companies. Using her experience leading research projects and framing problems to identify creative solutions, Leah works to build stakeholder relationships, ensure the growth and success of client and portfolio companies, and drive organizational strategies. Additionally, Leah brings her insights to life through communications and advocates for and connects entrepreneurs to additional capital and service resources beyond those provided by JumpStart.