KeyBank Business Boost & Build Year Two Report - 2018/19

year two report

2018 / 19

contents

2

welcome

3

introduction

5

program overview

7

northeast ohio

11

ohio

17

new york

21

2019 summit

23

two year metrics snapshot

To learn more about the KeyBank Business Boost & Build program, visit www.boostandbuild.org To learn more about corporate responsibility at KeyBank, visit www.key.com/about

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KeyBank Business Boost & Build

welcome On behalf of KeyBank and JumpStart Inc., we are excited to share highlights from the second year of the KeyBank Business Boost & Build program in Ohio and New York.

The KeyBank Business Boost & Build program is a major expansion of a decade-plus relationship between KeyBank and JumpStart seeking to help nearly 5,000 entrepreneurs create more jobs in their communities from the banks of the Ohio River in Cincinnati reaching all the way to the Hudson River in Albany, NY. Year one of this four-year program laid an important foundation in creating the structures and relationships necessary to launch this work. In year two, the KeyBank Business Boost & Build program has begun to mature and is on track to meeting its ambitious goals.

At the halfway point, the KeyBank Business Boost & Build program has already served thousands of startups, small businesses and microenterprises across ten cities in two states, the majority of which have been led by women and people of color. In the next two years, it will serve thousands more, while continuing to connect hundreds of students and adult jobseekers to workforce opportunities in their communities.

As you will see, it’s been a full and productive year for the KeyBank Business Boost & Build program. We hope this report gives you a glimpse into the important work being done to build a stronger economic future in Ohio and New York through the power of entrepreneurship and inclusion.

Sincerely,

Don Graves

Head of Corporate Philanthropy and Community Relations, KeyBank

Ray Leach

CEO, JumpStart Inc.

year two report 2018/19

2

introduction

In year two,

In 2017,

KeyBank launched its $16.5 billion National Community Benefits Plan, an unprecedented five-year initiative to drive investment for low- to moderateincome communities through transformative philanthropy.

That same year, The KeyBank Foundation awarded JumpStart a

grant through this plan to fuel the KeyBank Business Boost & Build program.

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KeyBank Business Boost & Build

ANNE HARRILL | OCÉANNE

Together, these entrepreneurs raised $679M in follow-on capital and revenue while adding $259M in payroll over the last year.

SCHOLARS OF THE EMERGING TALENT NETWORK

The KeyBank Business Boost & Build program connected more than 550 individuals to employment opportunities in year two through the Emerging Talent Network and the KeyBank Center for Technology, Innovation and Inclusive Growth.

Overall, the startups and small businesses supported across Ohio and New York by JumpStart and its partners during year two of this program generated an economic impact of

$530M $160M

$1b

of this impact was generated by companies led by women of this impact was created by companies led by people of color

year two report 2018/19

4

program overview

KeyBank Business Boost & Build provides a range of programs across different geographies A

northeast ohio

In Northeast Ohio, the KeyBank Business Boost & Build program enables JumpStart to provide high-impact business assistance for tech startups and small businesses, while creating a new initiative designed to help emerging young talent gain experience and employment with local companies.

b

ohio

Across Ohio, the KeyBank Business Boost & Build program also powers the new KeyBank Center for Technology, Innovation and Inclusive Growth, which makes grants to organizations to: accelerate the entrepreneurial success of women and people of color, and connect women, people of color and those in rural communities to career opportunities in growing, globally competitive small businesses.

â‹… â‹…

c

new york

The KeyBank Business Boost & Build program in New York is designed to stimulate economic growth by funding existing nonprofit organizations to foster new collaborations and provide high-impact technical assistance to entrepreneurs and small business owners in urban neighborhoods that have struggled to access these services in the past.

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KeyBank Business Boost & Build

c

A B

year two report 2018/19

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northeast ohio Headquartered in Cleveland, JumpStart has been working in the 21-county region of Northeast Ohio since 2004. The KeyBank Business Boost & Build program has helped the organization expand the breadth and depth of this work.

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KeyBank Business Boost & Build

northeast ohio

STARTUP/SMALL BUSINESS SUPPORT JumpStart was founded to assist tech entrepreneurs in Northeast Ohio. As the mission of the organization has grown, support from the KeyBank Business Boost & Build program has been critical in the expansion of these services to a more diverse range of traditional small businesses and high-growth companies across the region.

SINCE THE LAUNCH OF THE PROGRAM, JUMPSTART AND ITS PARTNER ORGANIZATIONS IN NORTHEAST OHIO HAVE SPENT

90,000+ 1,200+ 2,350+

HOURS ASSISTING

HIGH-POTENTIAL STARTUPS & SMALL BUSINESSES

AS A RESULT OF THIS WORK, COMPANIES ASSISTED BY JUMPSTART AND ITS PARTNER ORGANIZATIONS DURING THIS PERIOD HAVE CREATED

DIRECT, INDIRECT & INDUCED JOBS FOR THEIR COMMUNITIES

year two report 2018/19

8

northeast ohio

EMERGING TALENT NETWORK The Emerging Talent Network (ETN) helps aspiring 11th grade students and emerging 12th grade students connect with companies in search of qualified talent. The program works with companies across Greater Cleveland to connect them with Cleveland Metropolitan School District students in specific work-study tracks.

In year two, the ETN built on the success of its internship program in order to ramp up work securing meaningful job placements for graduating seniors.

TO DATE, THE PROGRAM HAS SECURED

81

PERMANENT JOB PLACEMENTS FOR STUDENTS AND FORMER STUDENTS IN HEALTHCARE, MANUFACTURING, CULINARY & BUSINESS SECTORS

PATRICE MOORER & COLLEEN RAND | ETN INTERNS

WHILE PLACING

103

SCHOLARS FROM THE ETN IN PAID INTERNSHIPS

Learnings from year two have also helped the ETN team make critical adjustments, including the integration of even deeper personal and professional development components into their work with 12th grade scholars.

CLICK HERE to watch an overview of the Emerging Talent Network.

or visit jumpstartinc.org/etn-video 9

KeyBank Business Boost & Build

CORE CIT Y: CLEVELAND JumpStart’s Core City: Cleveland program is a unique combination of one-on-one mentoring, community events and intensive educational programs. The program offers anyone who lives or owns a business in the city of Cleveland access to JumpStart’s team of experts for free one-on-one business advising sessions.

TO DATE, THE PROGRAM HAS SERVED

705

BUSINESSES THROUGH THE CORE CITY: CLEVELAND PROGRAM

82%

OF THESE BUSINESSES WERE LED BY WOMEN OR PEOPLE OF COLOR

The amount of knowledge [the Core City: Cleveland program] gives to the businesses is truly impressive. I thought I knew a lot, but when I came here, I realized there was a lot more that I didn’t know. They have helped put me in a position where I can take my business to the next level.”

JOSE MELENDEZ |

EXECUTIVE CHEF, MELENDEZ CATERING SERVICES, LLC

Twice a year, a cohort of five entrepreneurs also join the Core City: Cleveland Impact Program, an intensive 12-week business assistance program designed to provide focused business advising and industry-specific mentoring. The program culminates in a demo-day-style competition where participants pitch to a panel of judges and each takes home cash to grow their business.

$80K AWARDED TO 20 COMPANIES IN YEARS ONE & TWO OF THE KEYBANK BUSINESS BOOST & BUILD PROGRAM

This program is a great way to actually focus on your business—to step away and look at the bigger picture and figure out how to grow your company.”

ANGEL WASHINGTON |

FOUNDER, CONSULT 2 CODE LLC

year two report 2018/19

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ohio

The KeyBank Business Boost & Build program works across the state of Ohio through the KeyBank Center for Technology, Innovation and Inclusive Growth.

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KeyBank Business Boost & Build

ohio

KEYBANK CENTER FOR TECHNOLOGY, INNOVATION AND INCLUSIVE GROWTH The KeyBank Center for Technology, Innovation and Inclusive Growth is designed to accelerate the success of women and minorities as entrepreneurs of high-growth firms as well as connect women, minorities and those in rural communities to career opportunities in growing, globally competitive small businesses.

TOLEDO

AKRON

COLUMBUS

DAYTON

CINCINNATI

SINCE ITS LAUNCH, THE CENTER HAS FUNDED WORK ACROSS FIVE OHIO CITIES HELPING MORE THAN

550

COMPANIES GROW

WHILE CONNECTING MORE THAN

250

PEOPLE TO NEW EMPLOYMENT OPPORTUNITIES

*Total client count from year one and year two combined (not unduplicated).

year two report 2018/19

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ohio

AKRON In January, Akron Urban League and ConxusNEO announced the launch of IGNITE, a center-supported program designed to provide professional skills training and certifications, along with career oriented job placement services, helping to fill existing employment gaps within the community, while affording participants the opportunity to attain meaningful employment and earn a livable wage.

The program leverages ConxusNEO's strong regional data connections and their ability to bring the voice of the employer to the work. The collaboration also adds the strong technical expertise of coding academy We Can Code IT, bringing multiple forces together to create generationally life-changing opportunities for citizens of Northeast Ohio.

Marginalized populations are being left out at the same time employers are in a persistent struggle to find talent. We're excited about the potential for this partnership to tap into a talent source that is often overlooked by companies.�

SUE LACY |

PRESIDENT, ConxusNEO

CINCINNATI Funding to the Cincinnati Minority Business Collaborative (CMBC) is supporting a new partnership with Miami University (MU) to make available research and IP developed at MU to Minority Business Enterprises (MBEs). CMBC is developing a service model (including equipment, space and expertise) to accelerate MBE health and beauty product manufacturers.

The CMBC is also thinking beyond supplier diversity to help MBEs consider and navigate acquisition as a pathway for MBE growth. The organization is currently leveraging an opportunity with The Cincinnati Minority Business Accelerator to create a best practice playbook, which will have a tremendous national impact on MBEs, while gaining additional visibility for its collaboration and deal flow model.

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KeyBank Business Boost & Build

COLUMBUS Funding to Venture for America (VFA) through the center has increased cultural competency and the development of national best practices, including travel stipends and diversity/equity/inclusion tours. This has created stronger connections to local communities and the deliberate inclusion of women and people of color in VFA Selection Day interviews as well as the VFA Midwest Job Fair.

Meanwhile, the center also funded a new partner in Columbus in 2019, Per Scholas, whose On-Ramps to Tech Careers program will increase the pipeline of under-represented individuals to the Columbus tech workforce.

The workforce collaborative [Per Scholas] will be leading has the potential to not only diversify the Columbus tech ecosystem but also strengthen it significantly by including a more diverse range of skills, voices and experiences.�

MELISSA INGWERSEN |

CENTRAL OHIO DISTRICT PRESIDENT, KeyBank

DAYTON Dayton’s center-supported Pathways program continued to grow in year two, partnering with the University of Dayton to plan the establishment of an incubator in West Dayton focused on entrepreneurship and workforce while serving high-potential MBEs through its MBA capstone program.

In year two, the center also funded new programming in Dayton through the Wilberforce University Center for Entrepreneurship, which has already provided two cohorts of aspiring students and local entrepreneurs with business planning assistance, access to professional service providers and more.

to watch gloria ware discussing the Pathways CLICK HERE program with the Dayton Area Chamber of Commerce.

or visit jumpstartinc.org/pathways-dayton

year two report 2018/19

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ohio

TOLEDO In year two, the KeyBank Business Boost & Build program’s leadership catalyzed a wave of support for entrepreneurs and small business owners in Toledo. Inspired by the work of the program, six new funders committed an additional $600K in resources to JumpStart’s work in the region, leading to the opening of a new Toledo office in February 2019.

ATTENDEES NETWORK AT JUMPSTART'S NORTHWEST OHIO LAUNCH EVENT

As of this report, JumpStart's six Toledo-based colleagues engaged directly with more than 125 companies while hosting events, working to form a Toledo Business Growth Collaborative with 10 other service providers and launching the inaugural cohort of the Northwest Ohio Impact Program.

NORTHWEST OHIO IMPACT PROGRAM | COHORT I

There are so many organizations doing great work to support entrepreneurs and small business owners in Northwest Ohio. The KeyBank Business Boost & Build program is about helping these organizations collaborate in new and interesting ways for the benefit of the communities they serve.”

JIM HOFFMAN |

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KeyBank Business Boost & Build

MARKET PRESIDENT, MICHIGAN & NORTHWEST OHIO, KeyBank

news HEADLINEs & highlights Akron Urban League Launches Technical Training Program

Powerful new collaboration between Akron Urban League and ConxusNEO is funded by the KeyBank Business Boost & Build Program C rain’s Cl evela n d B us i n e s s · Ja n ua ry 2019

Dayton Area Chamber Marks 112 Years With Annual Meeting

The Chamber launched Pathways in 2018 through a partnership with JumpStart Inc. and KeyBank, to nurture minority- and women-owned businesses, as well as rural and underserved businesses.

Day to n Chamb e r · a pr i l 2 0 1 9

JumpStart Will Expand Its Role In Northwest Ohio

The Cleveland-based entrepreneurial support organization has opened a Toledo office to serve both tech founders and traditional small business owners across the region C rain’s Clevela n d B us i n e s s · fe b r uary 2019

KeyBank Business Boost & Build Program Awards $100K To Per Scholas To Help Diversify The Tech Workforce In Columbus

Grant will help create educational on-ramps for underrepresented groups in the tech sector including women and people of color Yaho o ! F inanc e · july 2 0 1 9

year two report 2018/19

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new york

The KeyBank Business Boost & Build program in New York connects small businesses and microenterprises in the urban neighborhoods of Albany, Buffalo, Rochester and Syracuse to resources that will help them grow and thrive.

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KeyBank Business Boost & Build

new york

KEYBANK BUSINESS BOOST & BUILD NEW YORK BUFFALO

ROCHESTER

SYRACUSE

ALBANY

SINCE THE PROGRAM’S LAUNCH, IT HAS FUNDED WORK IN FOUR NEW YORK CITIES HELPING MORE THAN

750 89%

BUSINESSES CREATE MORE THAN

250

JOBS ACROSS THE REGION

OF THESE BUSINESSES WERE LED BY WOMEN OR PEOPLE OF COLOR *Total client count from year one and year two combined (not unduplicated).

year two report 2018/19

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new york

ALBANY Funding in Albany continues to support a four-organization collaborative led by the Center for Economic Growth (CEG) focused on lowering barriers to entry for underserved entrepreneurs and creating a spirit of cooperation rather than competition between service providers. In year two, this collaborative has grown to include the Small Business Development Center (SBDC) University of Albany SEED Program.

BAKE FOR YOU (FROM LEFT): Paul Stewart of the Community Loan Fund (CLF), Jennifer Kilcoyne from the SBDC, Justin Cary and Linda Kindlon from Bake for You and Carol O’Connell from Excelsior Growth Fund (EGF). CLF provided early financing for Bake for You and EGF approved a new term loan for the business in 2018 to fund an expansion project that has created eight new jobs. The SBDC has also provided critical technical assistance to the business, including help obtaining a Microenterprise Grant to fund their expansion.

BUFFALO Funding in Buffalo supports a three-organization collaborative that now includes the Beverly Gray Business Exchange Center (BGBEC) as the lead organization. Strategically located in a community historically cut off from entrepreneurial support, BGBEC and partners are working to prepare businesses for capital and working with capital providers on appropriate loan products.

to watch highlights from the December 2018 KeyBank CLICK HERE Business Boost & Build Buffalo Pitch Competition.

or visit jumpstartinc.org/buffalo-pitch 19

KeyBank Business Boost & Build

ROCHESTER Funding in Rochester supports a two-organization collaboration between the Urban League of Rochester and Ibero-American Action League to increase visibility of ULR’s Business Development Center within Latinx communities. In the past year, Ibero launched the Ibero-American Investors Corporation (IAIC) fund, a new resource for accessing capital among ULR and Ibero clients.

IBERO-AMERICAN ACTION LEAGUE With help from the KeyBank Business Boost & Build program, entrepreneur and recent Cuban immigrant Guillermo Salas (PICTURED) has been able to develop a business plan and secure a $35,000 business loan though the Ibero-American Investors Corporation to purchase vehicles and launch his new transportation business.

SYRACUSE Funding in Syracuse supports the C.U.S.E. Collaborative, a group of four organizations—CenterState CEO, the South Side Innovation Center, Upstate Minority Economic Alliance and Women Igniting the Spirit of Entrepreneurship—dedicated to providing support through workshops, business development training, one-to-one support and events.

C.U.S.E. continues to reach more community members in year two of the KeyBank Business Boost & Build program via joint marketing efforts and a shared services platform for clients.

MISS PRISSY’S Dreamer Glenn (PICTURED) connected with the KeyBank Business Boost & Build program when she attended classes at the South Side Innovation Center to develop a business plan for her catering company, Miss Prissy’s. Dreamer is currently enrolled in the Start It! Catering/Food Business Training Program through Up Start (CenterState CEO) and the Salt City Market. Dreamer and her advisors are now working to take a new product to market, Miss Prissy’s Sassy Sauce. Dreamer is hoping to see her product on store shelves in the next six months.

year two report 2018/19

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2019 summit

2019 KEYBANK BUSINESS BOOST & BUILD SUMMIT On June 18, 2019, representatives from 20 organizations across Ohio and New York came together for the second annual KeyBank Business Boost & Build Summit. Held in Downtown Cleveland, the 2019 summit brings together business assistance and workforce development organizations from across markets in a forum where they can share and learn best practices.

ROYCE WOODS | BEVERLY GRAY BUSINESS EXCHANGE CENTER

HIGHLIGHTED TOPICS FOR THE 2019 SUMMIT INCLUDED: • Data-gathering best practices and client survey fundamentals • Storytelling and marketing strategies • Funding local entrepreneurial ecosystems KIRA CRAWFORD | CENTER STATE CEO

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KeyBank Business Boost & Build

• Making diversity and inclusion an organizational priority

ROHNESHA M. HORNE OF RADIO ONE & JOHN HENRY OF HARLEM CAPITAL | STARTUP SCALEUP

Many summit attendees also participated in JumpStart’s June 19 annual community event, Startup Scaleup, which drew more than 1,600 entrepreneurs, funders, advisors and community leaders to Cleveland’s Flats East Bank neighborhood for a day of learning and networking.

Through these annual summits, individuals and organizations from different cities, regions and states get opportunities to network with peers, share knowledge, create new relationships and amplify their impact in ways that would not be possible without the KeyBank Business Boost & Build program.

to watch highlights from the 2019 KeyBank CLICK HERE Business Boost & Build Summit.

or visit jumpstartinc.org/summit

year two report 2018/19

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1,217 42%

Northeast Ohio Tech Startups & Small Businesses Served by JumpStart & Partners

of these businesses were led by women or people of color

705 82%

Businesses served by the Core City: Cleveland Program

of these businesses were led by women or people of color

776 89%

Businesses served by the organizations receiving grants from the KeyBank Business Boost & Build program in New York

of these businesses were led by women or people of color

571 262

Companies impacted by support from Ohio’s KeyBank Center for Technology, Innovation and Inclusive Growth

Individuals impacted by support from Ohio’s KeyBank Center for Technology, Innovation and Inclusive Growth

103 81

Students have secured paid internships through the Emerging Talent Network

Students have gained permanent employment

*Total client count from year one and year two combined (not unduplicated).

KeyBank Business Boost & Build

year two report 2018/19