Cleveland, Ohio (PRESS RELEASE – October 27, 2010) – Northeast Ohio entrepreneurs have been put front and center with the introduction of the new JumpStart Entrepreneurial Network and its website. The Ohio Third Frontier-funded network of entrepreneurial support organizations are working together to provide entrepreneurs with the right resources at the right time, all to help entrepreneurs grow their companies more quickly. The newly-launched website is a one-stop shop for entrepreneurs to learn about and engage with the resources available in the network: four pre-seed and seed funds, five incubators, numerous experienced business advisors, and an online community that connects them with investors and mentors.
“The JumpStart Entrepreneurial Network gives entrepreneurs a place to start when they begin their search for the resources they need to grow their early-stage companies,” said John Dearborn, President of JumpStart Inc., the non-profit organization increasing the economic impact of Northeast Ohio’s entrepreneurial ventures and the ecosystem supporting them. No matter where an entrepreneur is in 21 Northeast Ohio counties from Youngstown to Mansfield to Canton, or where they are in the process—just starting out or ready for investment—the Network provides interested entrepreneurs access to the most appropriate expert in the region for business plan support, pre-seed or seed capital, incubator services, technical assistance and education. Dearborn continues, “By having this website serve as a single entry point into a continuum of resources ranging from incubation space to technical assistance to funding, we’re making access to those resources quicker and easier.”
“For entrepreneurs like me, time is by far our most limited resource,” said Phil Brennan, CEO of ECHOGEN Power Systems. “So having a strong network of support organizations that are all invested in your success, working together to bring you to the right resource just when your company needs it, really saves you time.”
Over the past three years, Network members have independently provided services to 7,640 entrepreneurs. Their client companies have raised $319 million in risk capital, and have created and supported 850 direct jobs at an average salary of $67,020. With closer collaboration and a single point of entry, the Network members plan to generate an even greater impact.
Members of the JumpStart Entrepreneurial Network, all of which have received funding from Ohio Third Frontier, include:
- Great Lakes Innovation and Development Center (GLIDE)
- Braintree Business Development Center
- Youngstown Business Incubator
- Akron Global Business Accelerator
- Glengary, LLC
- North Coast Angel Fund
- North Coast Opportunities Technology Fund of Cuyahoga County
- Innovation Fund founded by Lorain County Community College Foundation
- Ohio Aerospace Institute
- JumpStart and its programs (including JumpStart Ventures and JumpStart Inclusion Advisors).
The higher education institutions of the region are also members through the JumpStart Higher Education Collaboration Council.
About JumpStart Inc.
JumpStart Inc. is a non-profit organization increasing the economic impact of entrepreneurial ventures and the ecosystems supporting their growth. It is the founding member of the JumpStart Entrepreneurial Network, the region’s collaboration of entrepreneurial support organizations supported by Ohio Third Frontier. Members of the Network work to deliver superior service to all entrepreneurs, help them access the resources they need to progress their companies, and deliver economic impact in the form of capital raised, revenues generated, and jobs created.
About Ohio Third Frontier
Ohio Third Frontier is a technology-based initiative of the State of Ohio that is successfully changing the trajectory of the economy Ohio. It has contributed to Northeast Ohio’s success through the programs it funds. But the impact of this program reaches beyond Northeast Ohio; Ohio is rapidly becoming a leader in the country, and the envy of many states, because of its vast system of entrepreneurial support programs and the resulting transformation underway.