ENTREPRENEURIAL CONNECTION A NORTHEAST OHIO NETWORK COMMITTED TO STARTUP SUCCESS
THE JUMPSTART ENTREPRENEURIAL NETWORK
accelerates the
successes of diverse, high growth Northeast Ohio entrepreneurial early stage companies by providing seed capital, space and advice, and helping these promising firms access and leverage the right resources at the right time in their development.
entrepreneurs start here: jumpstartnetwork.org
“ManuscriptTracker would never have gotten off the ground without people who have been extremely supportive, giving me advice and connecting me to resources.” Brian Boyer | ManuscriptTracker
WHAT IS THE NETWORK? The Network is a formal group of entrepreneurial support resources that are located across the 21 counties of Northeast Ohio. These partners work together to provide efficient, complementary and costeffective support to the region’s promising high growth firms. The members of this Network fall into several major categories: •incubators and accelerators •investors in early stage opportunities •entrepreneurial education programs •innovation-focused research foundations •other sector-specific entrepreneurial support organizations
WHO DOES THE NETWORK HELP? The Network helps early stage Northeast Ohio companies in high growth sectors such as healthcare, IT and cleantech, mainly by providing funding and/or significant high-impact business assistance. These growing businesses may have received lowcost or no-cost services including (but not limited to) help accessing capital, recruiting and hiring a key team member, signing an early customer, developing their board or even creating marketing materials.
NETWORK PARTNER ORGANIZATIONS The business incubator provides affordable lab, manufacturing and office space (as well as technical, administrative and professional services) to biomedical, IT, advanced materials and advanced energy companies. akronaccelerator.com
As part of its efforts to support, educate and champion manufacturing, MAGNET provides a comprehensive package of business assistance services to support the growth of companies and significantly shorten the time it takes them to get to market. magnetwork.org
The regional forum introduces angel Akron Regional Change Angels investors to promising technology companies, with a particular focus on those leveraging the region’s strengths in healthcare, IT, polymers and advanced materials. uakron.edu/archangels
JumpStart provides critical support (such as mentoring, investment, talent attraction and marketing) and connections to diverse, early-stage entrepreneurial companies in order to accelerate their growth. jumpstartinc.org
This collaboration between hospitals, higher education institutions and funders accelerates translational research to biomedical commercialization, focuses on education initiatives, and improves access, prevention, treatment and disease management. abiakron.org
THE JUMPSTART HIGHER EDUCATION COLLABORATION COUNCIL This organized collaboration of 22 Northeast Ohio-based higher education institutions and community members connects these institutions to their communities, JumpStart and the Northeast Ohio entrepreneurial community.
This business formation, recruitment and acceleration initiative provides management, networking and funding assistance to help Northeast Ohio healthcare companies grow and commercialize bioscience technologies. bioenterprise.com
Through a combination of a customer-centric curriculum, mentoring, business development and investment, the LaunchHouse Accelerator program helps promising tech startups in software, mobile apps and hardware/robotics achieve success. launchhouse.com
The nonprofit accelerator helps launch and grow innovative, scalable web- or tech-based startups via a combination of mentoring, networking and funding. bizdom.com
The organization stimulates the development of regional innovation clusters in advanced energy and flexible electronics by designing growth strategies with government policy leaders, and building relationships among cluster members to foster funding, research and business opportunities. nortech.org
The 75,000-square-foot technology incubation and entrepreneurship facility gets business ideas headed in a profitable direction by providing access to a variety of resources—including low-cost collaborative spaces, mentoring, funding and business assistance. braintreepartners.org A comprehensive regional innovation center, resource hub and business incubator, GLIDE offers assistance across the entire business development continuum, from idea assessments and educational resources to access to capital. glideit.org
A contributed capital and “sidecar” pre-seed investment fund, North Coast Angel Fund focuses on young tech companies with significant growth potential in the biosciences, advanced materials, information technology and energy industries. northcoastangelfund.com
The University is committed to active engagement and support of innovation, technology development and entrepreneurial activities, including technology commercialization in the biomedical industry and an enriched biomedical incubator. neomed.edu This nonprofit institute enhances the state’s aerospace competitiveness by fostering research and technology development, and bringing together the best companies, universities and government entities for collaborative research, technology development and commercialization projects. oai.org The research arm of Ohio State University’s College of Food, Agricultural and Environmental Sciences, OARDC works with government and industry leaders to capture and grow the agricultural biosciences sector and to transform research into new business ventures and jobs. oardc.ohio-state.edu The mixed-use facility cultivates research and technical potential, with the overarching goal of developing and commercializing early stage cleantech, energy and natural resource technologies. tbeic.org This nonprofit entrepreneurial center and business incubator supports the development of commercially viable business-to-business (B2B) software companies and other compelling technologies by offering support, education and space to entrepreneurs. techudson.org The nonprofit University of Akron Research Foundation (UARF) aids technologybased economic development by supporting and commercializing university research. uakron.edu/research/uarf.dot The incubator helps accelerate emerging businesses—specifically information technology and B2B software—by providing an array of critical development resources, including facilities, equipment, entrepreneurial counseling and networking opportunities. ybi.org
THE NETWORK’S IMPACT
$
1.5B
cumulative risk capital raised by client companies to-date
2,568 direct jobs created and retained by client companies
SELECT NETWORK CLIENTS
The BoxCast video-sharing broadcast box allows anyone with a video camera to conveniently stream live video through websites, email, Twitter and Facebook. boxcast.com •BoxCast received an Innovation Fund award, a Cuyahoga County North Coast Opportunities Fund loan and MPAcT grant from MAGNET; the latter enabled the company to manufacture its video-sharing broadcast box more easily and cost-effectively.
power systems $
128M
cumulative revenue generated by client companies in 2013
Echogen Power Systems develops and manufactures an engine that recovers thermal energy from a wide variety of sources and transforms it into usable energy. echogen.com •Echogen launched in the Akron Global Business Accelerator and received both funding and assistance from JumpStart.
824 clients that have received significant business assistance
30% companies receiving assistance that are minority- or women-owned
Renter’s BOOM is an innovative online solution that connects property managers with potential tenants using socially integrated leasing. rentersboom.com •JumpStart and MAGNET client Renter’s BOOM (which is also a Bizdom portfolio company) received a Tech Sprout grant through the Braintree Business Development Center and an Innovation Fund award.
Pre-Seed and Seed Funds
Funding Partner
Akron BioInvestments Funds Alliance Startup Fund Appleseed Microfinance Barberton Growth Fund
Incubators and Accelerators Ohio Third Frontier is an
Canton Entrepreneur Launch
Akron Global Business Accelerator
Cuyahoga County North Coast Opportunities Fund
BioEnterprise
Glengary LLC
Bizdom
Innovation Fund,
Braintree Business Development Center
Founded by the Lorain County Community College Foundation
JumpStart Evergreen Fund
Great Lakes Innovation and Development Enterprise (GLIDE)
Tech Sprout
JumpStart Inc.
Wooster Opportunity Loan Fund
Other Service Providers ARCHAngels Austen BioInnovation Institute in Akron IdeaCrossing NorTech
LaunchHouse
Venture Capital and Angel Funds Concept Capital North Coast Angel Fund
Northeast Ohio Medical University
TECHudson The Incubator at MAGNET Youngstown Business Incubator
Educators The JumpStart Higher Education Collaboration Council
Ohio Aerospace Institute Ohio Agricultural Research and Development Center Tech Belt Energy Innovation Center
internationally recognized $2.3 billion technology-based economic development initiative. It supports existing industries that are transforming themselves with new, globally competitive products and fostering the formation and attraction of new companies in emerging industry sectors. Ohio Third Frontier provides funding to Ohio technology-based companies, universities, nonprofit research institutions and other organizations to create new products, companies, industries and jobs.
University of Akron Research Foundation
NETWORK-AFFILIATED REGIONAL FUNDS CAPITAL SOURCE
AMOUNT
TYPE OF FUNDING
GEOGRAPHICAL REQUIREMENTS
Akron BioInvestments Fund (Rapid Commercialization Loan Fund)
up to $250,000
loan (convertible note or equity)
City of Akron
Alliance Startup Fund
up to $35,000
low-interest loan
City of Alliance
Appleseed Microfinance
$1,000-$35,000
loan
Northeast Ohio
Barberton Growth fund
up to $50,000
low-interest loan
City of Barberton
Canton Entrepreneur Launch
up to $250,000
convertible note or equity
City of Canton
Cuyahoga County North Coast Opportunities Fund
$25,000-$125,000
low-interest loan
Cuyahoga County
Innovation Fund of Lorain County Community College Foundation
up to $100,000
Series A grant, Series B loan
Northeast Ohio
JumpStart Evergreen Fund
up to $250,000
convertible note
Northeast Ohio
Tech Sprout
up to $2,000 for NE Ohio up to $6,000 for Braintree tenants
micro-grant
Northeast Ohio
Wooster Opportunity Loan Fund
up to $100,000
low-interest loan
Wayne County