Why JumpStart for Philanthropy
JumpStart accelerates the growth of bright ideas into brilliant businesses in Northeast Ohio in three fundamental ways:
- Providing tools and organizing events to connect people with bright ideas throughout Northeast Ohio
- Providing experienced professional consultants to the most promising ideas and companies
- Providing critical early investment capital to entrepreneurs and businesses that have high growth potential and will likely grow to attract additional private-sector investments in the future
JumpStart's early efforts have yielded promising results. Whether reviewing newspaper articles throughout the region, looking at the number of JumpStart applicants, or attending any one of the many JumpStart Exchange events, you'll see that JumpStart has made great progress in revitalizing Northeast Ohio's entrepreneurial spirit.
JumpStart's impact on Northeast Ohio includes:
- Engaged with thousands of individuals from the Northeast Ohio entrepreneurial community
- Reviewed hundreds of business plans
- Provided thousands of hours of pro-bono advising and consulting services
- Committed over seven million dollars to date of investment capital into Northeast Ohio companies – creating and supporting new and attracting additional private investment
- Identified over 20 additional high-quality companies to invest in and accelerate
- Received significant regional media coverage as well as national recognition from the federal government
The Corporation is organized and shall be operated exclusively for charitable and educational purposes, including for such purposes as combating community deterioration and lessening the burden of government in the Northeast Ohio area by developing and maintaining programs and activities directed at:
- Encouraging the creation of new employment opportunities for unemployed residents of the City of Cleveland and other Northeast Ohio areas by providing managerial and technical assistance to aid the development and expansion of small businesses engaged in activities which have a high potential for providing employment opportunities and thereby contributing to the alleviation of economic distress in these areas;
- Conducting activities to supplement City of Cleveland, Cuyahoga County and State of Ohio economic and job development programs directed at encouraging the initiation of expansion, growth, and maturation of small businesses with a potential for providing enhanced employment opportunities and thereby contributing to economic revitalization of the City of Cleveland and other communities in the Northeast Ohio area which have experienced economic decline and community deterioration;
- Providing education and information to individuals concerning the development and operation of small businesses for the purpose of encouraging the initiation, expansion, growth, and maturation of both new and existing small business which can provide employment opportunities and thereby aid in alleviating unemployment, community deterioration, and economic distress in the City of Cleveland and other communities in the Northeast Ohio area.
It has been demonstrated that existing industries are no longer instrumental in providing growth within the region. The majority of growth nationally comes from small businesses. JumpStart's targeted assistance to early-stage high potential small businesses will ultimately create new employment opportunities for Northeast Ohio residents, which will alleviate economic distress and reduce the burden on government. The wealth created and jobs that result from our activities will help to revitalize the economy in Northeast Ohio.