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MOMENTUM MOMENTUM MOMENTUM MOMENTUM BUILDING MOMENTUM M MENTUM MOMENTUM MOMENTUM MOMENTUM MOMENTUM J U M P S TA R T 2 0 1 7 C O M M U N I T Y R E P O R T


J U M P S TA R T 2 0 1 7 C O M M U N I T Y R E P O R T

JUMPSTART UNLOCKS THE FULL POTENTIAL OF DIVERSE AND AMBITIOUS ENTREPRENEURS TO ECONOMICALLY TRANSFORM ENTIRE COMMUNITIES.

WE BELIEVE IN INVESTING IN BIG IDEAS AND TALENTED PEOPLE. FOR NEARLY 14 YEARS WE’VE WORKED HARD TO STRENGTHEN OUR ECONOMY.


DRIVING INNOVATION For a decade and a half, we’ve supported entrepreneurs who drive innovation and economic impact in our community. Now, we’re working to connect these startups with the large corporate partners that need their new innovations to stay competitive and create the products, jobs and economy of the future.

IN OCTOBER 2017, WE PARTNERED WITH THE CLEVELAND CLINIC TO BRING SILICON VALLEY’S PLUG AND PLAY ACCELERATOR TO CLEVELAND. THIS PARTNERSHIP WILL ATTRACT STARTUPS FROM ALL OVER THE WORLD TO OUR REGION AND CONNECT THEM WITH LOCAL AND GLOBAL CORPORATIONS.

10,250

STARTUPS AND SCALEUPS ENGAGED BY JUMPSTART AND ITS PARTNERS (2004–2018)

$4.5B

IN STATEWIDE ECONOMIC IMPACT CREATED BY COMPANIES THAT HAVE BEEN ASSISTED BY JUMPSTART AND ITS PARTNER ORGANIZATIONS (2010-2016)


IN DECEMBER 2017, WE WELCOMED OUR FIRST MANAGING PARTNER OF INCLUSION, ERIN HORNE MCKINNEY. SHE IS A NOTED PUBLIC POLICY EXPERT, THE CO-FOUNDER OF BLACK FEMALE FOUNDERS (#BFF) AND IS NOW LEADING OUR EXPANDING WORK TO BUILD INCLUSIVE ECONOMIC ECOSYSTEMS.

490

ENTREPRENEURS HAVE RECEIVED ONE-ON-ONE ASSISTANCE THROUGH JUMPSTART’S CORE CITY: CLEVELAND PROGRAM (2016–2018)

45%

OF JUMPSTART’S INVESTMENT CAPITAL HAS GONE TO COMPANIES WITH DIVERSE OWNERSHIP OR LEADERSHIP TO DATE (2004–2018)

PRIORITIZING INCLUSION We believe diversity and inclusion are competitive advantages, and we invest our time and resources accordingly. Our $10M Focus Fund is still one of the few funds in the nation dedicated exclusively to female and minority tech entrepreneurs. Our Core City: Cleveland program has also gone from a small pilot project to a key piece of Cleveland Mayor Frank Jackson’s $60 million initiative to reinvest in Cleveland’s neighborhoods.


ACCELERATING STARTUPS JumpStart began investing capital into Ohio startups more than a decade ago. Now, many of these early investments are paying dividends for our community. These outcomes prove our model works. Now, it’s time for new investments to help build the next generation of homegrown startup success stories.

$45.9M INVESTED BY JUMPSTART THROUGH DECEMBER 2017

108

PORTFOLIO COMPANIES THROUGH DECEMBER 2017

MAJOR PORTFOLIO COMPANY EXITS IN 2017 INCLUDED COVERMYMEDS, WHICH WAS ACQUIRED BY HEALTHCARE GIANT MCKESSON FOR MORE THAN A BILLION DOLLARS, MAKING IT OHIO’S FIRST STARTUP UNICORN—AND MR. BEAMS, WHICH WAS ACQUIRED BY FAST-GROWING CALIFORNIA STARTUP, RING. IN EARLY 2018, RING WAS ACQUIRED BY AMAZON.COM.


IN JULY 2017, THE KEYBANK FOUNDATION AWARDED JUMPSTART THE LARGEST SINGLE PHILANTHROPIC GIFT IT HAS EVER MADE TO LAUNCH THE KEYBANK BUSINESS BOOST & BUILD PROGRAM IN OHIO AND

$24M

AWARDED TO JUMPSTART BY THE KEYBANK FOUNDATION TO LAUNCH THE KEYBANK BUSINESS BOOST & BUILD PROGRAM

UPSTATE NEW YORK. THIS PROGRAM ALSO INCLUDES THE KEYBANK CENTER FOR TECHNOLOGY, INNOVATION AND INCLUSIVE GROWTH WHICH CONNECTS WOMEN, MINORITIES AND RURAL COMMUNITIES ACROSS OHIO TO OPPORTUNITIES IN THE INNOVATION ECONOMY.

DEEPENING PARTNERSHIPS We began in Northeast Ohio, and much of our work remains based in our home region. However, a groundbreaking 2017 partnership with the KeyBank Foundation has allowed us to expand our work across the state of Ohio, and into Buffalo, Rochester, Syracuse and Albany, NY.


CAMPAIGN DONORS 2017-2019 We acknowledge with great appreciation all of our campaign donors who make our mission come to life.

KEYBANK FOUNDATION JumpStart is grateful for the KeyBank Foundation’s transformational gift of $24M, the largest private gift in JumpStart’s history.

OHIO THIRD FRONTIER We also recognize the exceptional support of our public partner with funding of more than $28M to JumpStart and its network partners over these three years.

LEADERSHIP CIRCLE

INNOVATORS CIRCLE

GIFTS OF $100,000 TO $4,999,999

GIFTS OF $5,000 TO $49,999

ANONYMOUS BURTON D. MORGAN FOUNDATION CITY OF CLEVELAND CLEVELAND FOUNDATION FOREST CITY REALTY TRUST FUND FOR OUR ECONOMIC FUTURE MEDICAL MUTUAL THE NORD FAMILY FOUNDATION STARK COUNTY PORT AUTHORITY, COORDINATED BY STARK ECONOMIC DEVELOPMENT BOARD U.S. ECONOMIC DEVELOPMENT ADMINISTRATION

ANONYMOUS THE GESSNER FAMILY FOUNDATION ROBERT AND SUSAN R. HURWITZ FAMILY FOUNDATION, A SUPPORTING FOUNDATION OF THE JEWISH FEDERATION OF CLEVELAND ADAM R. KAUFMAN MORGENTHALER FAMILY CHARITABLE FOUNDATION PAVEY FAMILY FUND TO SUPPORT ENTREPRENEURSHIP PR 20/20 VANTAGE FINANCIAL GROUP

PARTNERS CIRCLE

ACCELERATORS CIRCLE

GIFTS OF $50,000 TO $99,999

GIFTS OF $1,000 TO $4,999

CITIZENS BANK BRIAN GALE THE GOLDMAN SACHS FOUNDATION MARTY TARR

THE AHOLA CORPORATION FIFTH THIRD BANK GOODMAN REAL ESTATE SERVICES GROUP LLC TED LAUFIK MUTUAL CAPITAL PARTNERS JOHN AND MARGI O’BRIEN OSWALD COMPANIES TAFT STETTINIUS & HOLLISTER LLP

PREFERRED PARTNERS IN-KIND DONORS OF HOURS TO OUR COMPANIES: AIRCFO

CALFEE, HALTER & GRISWOLD LLP

HW&CO

J U M P S TA R T 2 0 1 7 C O M M U N I T Y R E P O R T

THOMPSON HINE


BOARD OF DIRECTORS & OBSERVERS JumpStart gratefully acknowledges the full participation of its Board of Directors and team members in financially supporting our organization.

DIRECTORS MR. WILLIAM R. SEELBACH

MR. JOSEPH JANKOWSKI

MS. KATE ASBECK

MS. RENITA JEFFERSON

MR. E.J. BURKE

MR. RAY T. LEACH

DR. ELLEN BURTS-COOPER

MR. STEVE MCHALE

MR. ANTHONY CAMPANA

MR. DARRELL MCNAIR

MS. CAROL CARUSO

MS. LEE NIELSEN

MS. JEANNE COUGHLIN

MR. PATRICK PASTORE

MS. JJ DIGERONIMO

MS. BARBARA PAYNTER, APR

MR. STEPHEN FRY

MR. MARK J. SAMOLCZYK

MR. LARRY GODDARD

MR. GARY S. SHAMIS, CPA

MR. LARRY GOODMAN

MS. SHARON TOEREK

MR. JAY GOYAL

MR. JOSE VASQUEZ

DR. ALBERT M. GREEN

MR. LEONARD D. YOUNG

MR. WILLIAM L. HARTMANN MR. THOMAS HOPKINS

OBSERVERS MR. JIM HICKEY

MR. THOMAS E. WAGNER

MS. DEBORAH HOOVER

MR. STEVE WALLING

MR. BOB HURWITZ

MR. DOUG WEINTRAUB, CPA

MS. SHILPA KEDAR

MR. BRAD WHITEHEAD

MR. TED LAUFIK

MR. MARK WILLIAMS

DR. FRANK PAPAY


DAVID LEVINE

Co-Founder/CEO, Mr. Beams When David Levine co-founded the company that would become Mr. Beams in 2006, he was early to the LED lighting party. So, he spent the next decade working to protect the company’s intellectual property and growing the business efficiently— leveraging just $1.1 million in funding to boost sales to more than $25 million.

STARTING A BUSINESS CAN BE VERY UNCOMFORTABLE. I WAS DRIVEN BY THE IDEA THAT WE'RE SOLVING PROBLEMS—THAT WE HAD GOOD IDEAS AND GOOD PRODUCTS AND IT WAS JUST A MATTER OF TIME BEFORE PEOPLE FIGURED IT OUT.

MR.BEAMS In late 2017, Mr.Beams struck a deal to be acquired by fast-growing California home security startup Ring, which was then acquired by Amazon.com in early 2018. These acquisitions have generated a strong return for their investors (including JumpStart) and have provided yet another example of a homegrown startup competing and succeeding on a global scale.


GROOVERYDE Since Anjua Maximo participated in JumpStart's Core City: Cleveland Impact Program, GrooveRyde has experienced a 50% increase in sales, opened an additional location near Reserve Square in Downtown Cleveland and increased its roster of employees to more than 50.

JUMPSTART HAS HELPED US SECURE CAPITAL BY INTRODUCING US TO PEOPLE THEY KNOW IN THEIR WORLD. THAT HAS BEEN AN AMAZING THING. AS AN ENTREPRENEUR, YOU NEED SOMEONE IN YOUR CORNER— PEOPLE WHO ARE ROOTING FOR YOU.

ANJUA MAXIMO

Co-Founder, GrooveRyde

A former L.A. fitness instructor whose career brought her to Cleveland, Anjua Maximo has made it her mission to bring a boutique fitness club experience to Northeast Ohio that nurtures both her clients' bodies and minds.


SAEED AMIDI

Founder/CEO, Plug and Play

M M M M M M M M M

Forced to start from scratch after the Iranian revolution, Saeed Amidi and his family parlayed a series of small businesses into one of the world’s best and largest accelerator programs—Plug and Play.

CLEVELAND IS AN UNDISCOVERED GEM. THE THREE-MONTH ACCELERATOR PROGRAMS WE WILL RUN GIVE THE STARTUPS THE TIME THEY NEED TO SEE CLEVELAND UP CLOSE AND PERSONAL. THE BUILDING BLOCKS ARE THERE, WE JUST NEED TO LINK THEM ALL TOGETHER.

PLUG AND PLAY Headquartered in Sunnyvale, California, Plug and Play operates in two dozen other locations across four continents. The accelerator program has its roots in the Plug and Play Tech Center—the famous Palo Alto “lucky building” that once housed early tenants such as Google and PayPal.


WE’VE ACCOMPLISHED A GREAT DEAL. BUT THERE IS MUCH MORE TO DO.

STAY ENGAGED.

www.jumpstartinc.org

@jumpstartinc

J U M P S TA R T 2 0 1 7 C O M M U N I T Y R E P O R T

Profile for JumpStart Inc.

2017 JumpStart Community Report  

JumpStart unlocks the full potential of diverse and ambitious entrepreneurs to economically transform entire communities.

2017 JumpStart Community Report  

JumpStart unlocks the full potential of diverse and ambitious entrepreneurs to economically transform entire communities.

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