Story exceprt provided by Freshwater Cleveland
Written by Karin Connelly
An annual JumpStart survey indicates that tech startup companies that receive assistance from mentors, advisors and investors make a significant contribution to the region’s economy, even in the early stages. The Center for Economic Development at Cleveland State University’s Levin College of Urban Affairs surveyed 121 JumpStart and North Coast Angel Fund companies to measure their economic impact on the region.
The report showed these companies had a $220.5 million economic impact in 2011 in Northeast Ohio, creating 776 direct jobs within the companies and 864 indirect jobs, for a total of 1,640 regional jobs.
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