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A Boost for Banyan

Monday, June 05, 2006

Provided by Crain's Cleveland Business

Nonprofit venture development group JumpStart Inc. made a $350,000 investment commitment to an Elyria-based software developer, Banyan Technology. Banyan is JumpStart’s 14th portfolio company since the nonprofit’s 2004 inception. JumpStart officials said Banyan creates software that helps small to midsize companies manage their shipping processes. Banyan plans to use the investment to hire five to seven computer programmers by year’s end and to buy computer equipment.