In 2004, the newly created JumpStart -- which had begun accepting applications from entrepreneurs seeking assistance in getting their ideas to market -- found itself deluged with requests. The organization saw an urgent need to develop a kind of database of services critical to a startup's success, and a need to connect the various principals.
Enter Cleveland-based IdeaCrossing.
IdeaCrossing describes itself as "an online resource available to all individuals and organizations with an interest in supporting and promoting entrepreneurial activity." The site identifies the kinds of assistance (mentoring, investment capital, and various service providers) entrepreneurs need in order to succeed.
The service also serves the angel and venture capital communities by vetting new investment opportunities. Angel investors typically invest between $5,000 and $50,000, individually, according to Tiffan Clark, vice president of IdeaCrossing.
"There are no sites like ours�that try to be more of an online ecosystem for entrepreneurs nationwide," says Clark. "The whole idea behind IdeaCrossing is that the resources you need to help to develop your business idea may not necessarily exist in your backyard."
The resource offers increased exposure to disparate assets throughout the region such as universities, economic development organizations, chambers of commerce, foundations, and various professional services. Users can tap into local, regional, and national resources.
Users create a "funding profile" that helps to identify the seed and venture capital they need. IdeaCrossing tracks the profile's performance and notifies the user (entrepreneur) when an investor has indicated an interest in their profile. Other profiles fill other needs. "If an entrepreneur is looking for a mentor they can go online and create a profile to find a mentor," says Clark. A kind of one-stop-shop for budding tycoons.
Best of all, the service is free.
Source: Tiffan Clark; Vice President, IdeaCrossing
Writer: Patrick G. Mahoney