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Cuyahoga County Organizations Win $9.7 Million in Third-Frontier Grants

Wednesday, May 26, 2010

Excerpt of story provided by Plain Dealer
Written by Michelle Jarboe

Cuyahoga County non-profit groups, incubators and investment funds will receive $9.7 million to spend cultivating and assisting young companies - making Northeast Ohio the beneficiary of most of the $11 million in start-up grants announced Wednesday...

...Wednesday's awards will bolster technology and biomedical growth in Northeast Ohio. The Cleveland Clinic Foundation received $2 million to invest in nascent biomedical companies. JumpStart Inc., a non-profit group based in Cleveland, received more than $5.7 million to put toward promising start-ups, bio-science companies and businesses owned by women and minorities. And North Coast Angel Fund II LLC, an investment fund based in Mayfield Heights, won $2 million to invest in technology companies.

"With the Third Frontier funds awarded today to JumpStart and other entities in Northeast Ohio, the region's entrepreneurs will continue to have access to critical resources they need to accelerate the growth of their companies and jobs," Ray Leach, JumpStart's chief executive officer, wrote in an e-mail after the announcements. "This is great news for Northeast Ohio's entrepreneurs and for our community at large..."

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