JumpStart, Inc.

Cleveland, OH   |  www.jumpstartinc.org

Mission

JumpStart Inc. is a venture development organization committed to unlocking the full potential of entrepreneurship to transform entire communities.

Ruling year info

1983

CEO

Mr. Raymond T. Leach

Main address

6701 Carnegie Avenue Suite 100

Cleveland, OH 44103 USA

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EIN

34-1398522

NTEE code info

Management Services for Small Business/Entrepreneurs (S43)

Economic Development (S30)

Management & Technical Assistance (S02)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Blog

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Business Assistance

JumpStart provides business assistance to a broad range of companies, both directly and by working in partnership with its service provider networks. JumpStart employs Entrepreneurs-in-Residence, Venture Partners, Market Research Analysts, Talent professionals and Marketing professionals to provide direct support to tech-based startups through the Northern Ohio ESP Networks and main street businesses through Core City programming.

DIRECT SUPPORT

JumpStart works collaboratively with partner organizations to ensure entrepreneurs across Northern Ohio have access to the programming they need to succeed. To this end, in addition to one-on-one work with entrepreneurs, JumpStart offers free educational workshops on a wide variety of topics. While some of these workshops are targeted towards early-stage tech-based companies (such as the Launch Your MVP Program focused on software products), subjects such as Talent Strategy, Social Media Strategy, and Digital Marketing are open to any business meeting size and growth criteria. For high-potential clients eager for intensive assistance, JumpStart offers the Impact Program, a 12-week business assistance program with an emphasis on financial projections and capital pitches.

In addition to assistance and programming provided by paid JumpStart staff, clients may also be matched with a mentor from the Burton D. Morgan Mentoring Program at JumpStart, where those with experience in entrepreneurship and who are subject matter experts volunteer their time to assist entrepreneurs to validate and grow their companies, or a mentor from the Core City Encore Mentoring Program, which matches individuals (age 50+) who want to give back to their community with entrepreneurs in search of advice to grow their businesses.

NETWORK MANAGEMENT

JumpStart manages networks of entrepreneurial service organizations set-up to assist early-stage, high-tech entrepreneurs across the 39 counties of Northern Ohio (including 21 counties in Northeast Ohio and 18 counties in Northwest Ohio). JumpStart secures partial support for these service organizations from the Ohio Third Frontier, a program of the State of Ohio. As network manager, JumpStart not only manages all invoicing and reporting to the state but brings 14 partner organizations together on a regular basis to assess startup client deal flow and allocate resources using a shared client management system.

Together with the Greater Cleveland Partnership’s Equity and Inclusion division, JumpStart has helped establish a network to provide the same kind of coordinated support to the minority small business community that is available to tech entrepreneurs. With this intention, the Business Growth Collaborative (BGC) and the Business Growth Collaborative Funding Pool were formed, first in Cleveland and then in Toledo. JumpStart provides backbone management support and is a member, working to provide assistance and connections to small business owners.

Population(s) Served
Adults
Women
Self-employed people
People of Latin American descent
People of African descent

JumpStart invests in and supports businesses that are playing an important role in the revitalization of their communities by converting capital into localized commercial activity. JumpStart, along with many partners, is working to address access to capital for non-tech business owners and more specifically African American and Latinx business owners. The Visible Voice Fund, Core City: Cleveland Award funding, and Impact Loan Fund currently serve as the channels through which JumpStart direct capital to non-tech entrepreneurs.

Since its inception, JumpStart has been providing early-stage capital to tech entrepreneurs. More than half of JumpStart’s investment capital since 2004 has been provided by the Ohio Third Frontier, an unprecedented statewide commitment to create new technology-based companies. All OTF dollars must be matched with a minimum 1:1 from other sources. Through a team of investing professionals, subject matter experts, and outside consultants, JumpStart conducts due diligence, invests, and provides ongoing guidance to early-stage entrepreneurs through its three early-stage funds – JumpStart Evergreen Fund, JumpStart Focus Fund, and JumpStart NEXT Fund.

Population(s) Served
Adults
Women
Self-employed people
People of African descent
People of Latin American descent

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total dollars loaned to businesses

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults, Self-employed people, Women, People of African descent, People of Latin American descent

Related Program

Access to Capital

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

To date, JumpStart has invested more than $61M into 125 Ohio tech startups. 44% of our total investment capital has been deployed into companies led by women and people of color.

Number of companies who have engaged in JumpStart business assistance programs

This metric is no longer tracked.
Totals By Year
Population(s) Served

Women, Self-employed people, Adults, People of African descent, People of Latin American descent

Related Program

Business Assistance

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

Since our inception, JumpStart has engaged more than 6,500+ companies. In 2019 alone, JumpStart engaged 1,150 companies. 51% were led by women and 42% were led by people of color.

Total dollar amount of grants awarded

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults, Women, Self-employed people, People of African descent, People of Latin American descent

Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Context Notes

JumpStart grants funding to partners in the Northeast Ohio Startup Network on behalf of the Ohio Third Frontier.

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

JumpStart, in collaboration with its partners, will generate dramatically improved and inclusive economic outcomes by supporting diverse entrepreneurs, optimizing entrepreneurial ecosystems, and accelerating innovation.

From FY21 to FY23, JumpStart’s performance commitments are as follows:
1. 2,000 jobs created, with 1,000 (50%) jobs created by client and portfolio companies led by women, Black, or Latinx entrepreneurs
2. 225 client and portfolio companies will raise at least $250K in investment capital, 50% led by women, Black or Latinx entrepreneurs. 60 small businesses will raise at least $25K in grants or loans, 80% led by Black or Latinx entrepreneurs
3. 70% of engaged JumpStart client and portfolio companies are using milestone-based performance management
4. Raise $150M+ for venture funds and deploy $30M+ in capital

1. Cultivate and accelerate the growth of diverse, highest potential entrepreneurs or attract them to Ohio via evolving, high impact services and access to capital.
2. Leverage our startup tech equity investing track record and the Cleveland Innovation Project (CIP) to raise $150M+ 150M+* to invest in startups in both current and new geographies desired by LPs; continue efforts to increase sources of grant/debt capital deployed in communities we serve.
3. Proactively seek and evolve long term partnerships with the State, corporations, institutions, and our economic development partners to build proprietary deal flow, raise and invest funds, accelerate venture development, and secure $1M+ annually (by 2023) in new, sustainable revenue for
4. Make progress towards racial and gender equity in entrepreneurship and related workforce efforts via our work as an intermediary and leader.
5. Play significant leadership role in Cleveland Innovation Project, Midtown Innovation Community, and other civic, entrepreneurship and/or innovation initiatives in markets we serve.

Financials

JumpStart, Inc.
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Operations

The people, governance practices, and partners that make the organization tick.

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JumpStart, Inc.

Board of directors
as of 3/11/2021
SOURCE: Self-reported by organization
Board chair

Mr. Gary Shamis

Winding River Consulting

Term: 2019 - 2022

Ray Leach

JumpStart, Inc.

Kate Asbeck

The Cleveland Foundation

Karim Botros

Echo Health Ventures

Anthony Campana

Campana Capital

Carol Caruso

Caruso Public Affairs, LLC

Jeanne Coughlin

The Coughlin Group, Inc.

Romona Davis

Huntington National Bank

JJ DiGeronimo

Tech Savvy Women

Stephen Dull

Eric Fiala

KeyBank

Stephen Fry

SRF Consulting

Larry Goodman

Goodman Beverage Corporation

Brian Hall

The Greater Cleveland Partnership

Thomas Hopkins

Sherwin Williams

Joseph Jankowski

Case Western Reserve University

Stephen McHale

Explorys

Darrell McNair

MVP Plastics, Inc.

Nancy Mendez

United Way of Greater Cleveland

Barbara Paynter

Paynter Communications

Michael Regelski

Eaton Corporation

John Pigott

ProMedica Innovations

William Seelbach

The Riverside Company

Cindy Torres Essell

Heinen's, Inc.

Sharon Toerek

Toerek Law

Jose Vasquez

Quéz Media Marketing

Mark Samolczyk

Stark Community Foundation

Ann Hamilton

The Cleveland Clinic

Larry Fulton

LEFCO Worthington

Odell Coleman

ColemanWick

Organizational demographics

SOURCE: Self-reported; last updated 03/09/2021

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

 

Sexual orientation

Disability

No data