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About:

JumpStart is a nationally recognized venture development organization that accelerates the progress of high potential, early-stage businesses and includes a special focus on diverse entrepreneurs working in the highest growth industries. Through the depth of its entrepreneurial team and the breadth of its high value resources, JumpStart improves client success in achieving significant milestones, including raising the follow-on capital necessary to create wealth. JumpStart strives to create a more prosperous future for Northeast Ohio.

Fund Support:

$11.8 million

Performance:

JumpStart directly invested nearly $22 million in 59 companies which have raised more than $157 million in follow-on capital. It has also helped hundreds of other entrepreneurs by providing a variety of business consulting services and hands-on, intensive assistance. JumpStart is ranked among the nation’s top most active early-stage investments funds, and its model is being recognized nationally for strengthening the regional entrepreneurial climate.

2011 Update:


  • JumpStart helped to set up and three more community funds for entrepreneurs: Barberton Growth Fund, Canton Entrepreneur Launch and Appleseed Microfinance (Mansfield). These funds offer communities a new way to support startups and make for a total of four new sources of capital in the region (Wooster Opportunities Loan Fund came online in November of 2010) that are now part of the JumpStart Entrepreneurial Network. 
  • At the 2011 Northeast Ohio Entrepreneur Expo & JumpStart Community Meeting, Mayor Plusquellic of Akron announced the Akron BioInvestments Fund. This $1.5 million fund to support biomedical companies in or interested in moving to Akron and JumpStart is on its board of managers. The fund will begin accepting applications in December of this year.  
  • JumpStart’s Duke Jankura won the CFO of the Year Award from Crain’s Cleveland Business. 
  • A record number of people turned out for the Northeast Ohio Entrepreneur Expo and JumpStart Community Meeting in Akron on October 25. Nine hundred and seventy (970) members of the region’s entrepreneurial community participated in a day filled with educational, networking, and eye-opening opportunities.
  • Released a Cleveland State University report showing that high growth companies based in Northeast Ohio are contributing significantly to the region and that, in 2010, 90 young tech-based companies supported by JumpStart through assistance and/or investment generated nearly $155 million in economic benefits and helped create and retain 546 in-region direct jobs at an average salary of $62,850, with a total employment impact of over 1,100 total jobs for the 21-county region.
  • Robert Hatta, JumpStart's vice president of entrepreneurial talent, was a finalist for Crain's Cleveland Business' Archer Awards. The awards recognize excellence in human resources and Robert was named in the innovation category.
  • JumpStart invested $250,000 in each of the following companies: SpearFysh, a Twinsburg startup with a Software-as-a-Service that helps companies gather the best data from sales calls; OptixConnect, is a web-based, tablet-optimized social network built exclusively for private businesses and their high-value stakeholders and Anderson Aerospace, a Kent-based company designing and manufacturing satellite antenna systems for aircraft.
  • JumpStart, in collaboration with NorTech and MAGNET, received a Jobs and Innovation Accelerator award from the Economic Development Administration. JumpStart will receive $250,000 for its participation in the “Speed to Market Accelerator” project.
  • JumpStart, in partnership with the Baton Rouge Area Chamber, was awarded $429,000 from the Economic Development Administration for work on a Regional Entrepreneurship Action Plan in the Baton Rouge, Louisiana area.
  • Thermalin Diabetes, which is developing next generation insulin analogs, closed a $2.85 million Series A round, which included a $250,000 second investment from JumpStart.
  • ABSMaterials, maker of a swelling glass that absorbs toxins in water, closed an $11 million Series A round led by Energy Ventures.
  • CardioInsight Technologies, developer of a non-invasive heart mapping technology, won a $1 million Ohio loan to help commercialize its technology.
  • Recycling technology firm Polyflow LLC received a $1.6 million grant from Ohio Third Frontier to build a plastics-to-chemicals recycling plant in Northeast Ohio.
  • MedCity Media, creator of healthcare content, announced a partnership with the Ewing Marion Kauffman Foundation to launch an online community dedicated to entrepreneurship in the medical industry.
  • MAR Systems, a clean water technology company with an advanced material that removes heavy metal contamination from water streams, received $500,000 in funding from the State that it plans to use to create five new full-time jobs.
  • Catacel is part of a $3 million project funded by the U.S. Department of Energy to develop advanced post-combustion technologies for capturing CO2 from coal-fired power plants. W. R. Grace & Co won the funding and is partnering with Catacel, Battelle, and the University of South Carolina on the project.
  • Cervilenz, a women’s health medical device company providing a means to accurately and inexpensively measure a woman’s cervix to predict preterm birth risk, increased its Series A round of investment to $8.35 million. The JumpStart portfolio company’s device is FDA approved and recently received the CE Mark, giving Cervilenz the ability to sell its product in the European Union.
  • Knotice, an Akron-based online company, is expanding and will open an office in Seattle. The company received its only outside investment from JumpStart in 2006, when it received $500,000. Knotice now employs 85 people in its Arkon offices and will hire 10-15 more people in the Seattle office.
  • Collaborating with Barberton Community Foundation to launch a new loan fund for high growth entrepreneurial companies. The Barberton Growth Fund will award loans of up to $50,000 to young, Barberton-based companies that appear able to raise additional venture capital in the future.
  • Cleveland-based SironRX Therapeutics raised $3.4 million to fund clinical trials testing whether a drug licensed by the company can safely and effectively treat post-surgical wounds. The investment was led by North Coast Angel Fund. Other investors included the Cleveland Clinic, JumpStart Inc. of Cleveland, Fletcher Spaght Investments of Boston, Glengary LLC of Beachwood, Ohio Tech Angel Fund III of Columbus, Early Stage Partners of Cleveland, X Gen Ltd. of Cleveland and several individuals.
  • JumpStart invested $250,00 in biomedical technology start up Securus Medical Group. The company, which is developing a technology meant to provide real-time temperature mapping within a body cavity, also received $500,000 from RiverVest.
  • JumpStart recently made its 81st investment in its 55th company, Segmint. The Tallmadge-based company is developing software that creates extremely targeted advertising segments by analyzing customer purchasing behavior while keeping consumers’ identities anonymous. Segmint, which received a $100,000 grant from the Innovation Fund in 2007, plans to use JumpStart’s funding to continue pilot tests on its software.
  • JumpStart’s client companies raised $65,170,902 during its fiscal year ending June 30, 2011
  • The Cleveland Foundation awarded JumpStart $750,000 to support local high-tech and innovative companies.
  • MesoCoat broke ground for a new $7 million manufacturing facility in Euclid. The company plans to produce 10,000 square meters of corrosion- and wear-resistant nanoceramic clad tubes, pipes, and plates each year at the new building.
  • CoverMyMeds has raised $1 million to continue developing its prior authorization technology over the past year. JumpStart is among the company's largest investors. 
  • The Cleveland International Fund launched a new fund for emerging companies. Called the Cleveland International Entrepreneurs Fund, it will seek money from foundations and the business community.JumpStart Inc will administer the fund and help vet deals.
  • JumpStart Ventures invested $250,000 in SPRTM Therapeutics, a spin-off of NDI Medical, LLC. SPR Therapeutics is a medical device company focused on developing novel therapies for pain. 
  • JumpStart Inc., in conjunction with ystark! and the City of Canton, will help start the Canton Entrepreneur Launch, a new program that will award grants to entrepreneurs who plan to establish new business ventures in the city.
  • JumpStart CEO Ray Leach was named to the board of the National Venture Capital Association (NVCA). The NVCA, which has over 400 members, serves as the voice of the United States venture capital community and advocates for policies that encourage innovation and reward long-term investment Leach was elected to a four-year term and is one of six new members joining the board.
  • JumpStart Ventures portfolio company Thermalin Diabetes has closed a $2.85 million Series A round. The round included $250,000 second investment from JumpStart Ventures. 
  • SironRX, a spin-off of Juventas Therapeutics Inc., received a $250,000 investment from JumpStart. The company will use the funds to support the initiation of Phase II clincical trial of its drug, JVS-100, to heal wounds and prevent scarring in post-surgical wounds. This marks the 53rd company that JumpStart has invested in.
  • The federal government has selected JumpStart to create a new nonprofit with a goal of raising $2 billion to fund programs promoting entrepreneurship and innovation in other regions. Called JumpStart America, the organization will be part of the Startup America initiative which aims to promote entrepreneurship and innovation nationwide. JumpStart America will raise money from national organizations. Read more here.
  • JumpStart has received two Ohio Third Frontier awards totaling $6.7 million. The organization received $4.7 million through the Entrepreneurial Signature Program and $2 million through the Pre-Seed Fund Capitalization Program.
  • JumpStart Ventures, the investing arm of JumpStart, ended the year with a record high for investment activity, with 15 investments in companies. JumpStart has now invested almot $20 million in 52 companies.  The portfolio companies themselves  raised $51 million in 2010, bringing total capital raised to $144 million in total, more than 7x leverage on the investment. The companies now have more than 200 patents in hand or in process.
  • CardioInsight Technologies, a leading developer of non-invasive electrocardiographic mapping technology, has secured an investment and distribution agreement with Tokyo's DVx, a leading Asian distributor of cardiovascular devices. The investment brings the company's total funding raised in 2010 to over $10 million. DVx will lead regulatory and marketing activities to commercialize CardioInsight's EC Mapping system in Japan, the world's third largest cardiovascular market. Read more.
  • JumpStart Ventures closed out 2010 with investments in four early-stage companies. The recent investments-- totaling $800,000-- were made in two new portfolio companies, MedCity Media and Caralon Global; and two existing portfolio companies, Tursiop Technologies and OnShift. The investments bring the organization’s 2010 investing totals to $3.1 million and 15 investments. 
  • Regenerative medicine company Juventas Therapeutics Inc. has received regulatory approval to begin a Phase 2 clinical trial of a stem cell treatment for heart failure. JumpStart is one of the company's investors.