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Cleveland Rocks? JumpStart Wants To Make It So

Thursday, August 19, 2010

Excerpt of story provided by The Wall Street Journal
Written by Russell Garland


Nearly a decade ago, a group of community leaders decided to focus on Cleveland’s economic future instead of its past.

They wanted to make Northeast Ohio, once a center of industrial innovation, a good place to start companies again and were vexed by the fact that while Great Lakes pension funds, foundations and endowments were a major source of venture capital nationally, little of that money flowed back to the region.

Tapping state and private funds, the group set out to create an ecosystem to encourage innovation and entrepreneurship. JumpStart Inc. is a centerpiece of that effort. It’s a nonprofit business accelerator providing entrepreneurs with financing and advice as well as promoting economic development initiatives and running outreach programs to encourage entrepreneurship...

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