JumpStart, the Cleveland-based non-profit that provides resources to young companies throughout northeast Ohio, has been recognized for its economic development work by the State Science and Technology Institute.
JumpStart was selected by an independent panel of judges as the winner of the "Building Entrepreneurial Capacity" category of SSTI's 2010 Excellence in Technology-Based Economic Development Awards. The award was announced Sept. 15 at SSTI's annual conference in Pittsburgh.
It's the fourth year of the awards program and the second year JumpStart has received an award. JumpStart won last year for its work in increasing access to capital. Other categories include "expanding the research capacity" and "improving competitiveness of existing industries."
Ray Leach, JumpStart's chief executive officer, notes that "the work we do and the results we've achieved in building a robust entrepreneurial ecosystem is a direct result of the partnerships we've made with private organizations and public entities, especially the Ohio Department of Development and Ohio Third Frontier."
SSTI President and CEO Dan Berglund calls JumpStart "a remarkably effective program by and for entrepreneurs. Their efforts have bolstered the entire region through partnerships and collaborations with other organizations, and through programs that target underrepresented groups such as women and minority entrepreneurs."
JumpStart provides intensive entrepreneurial assistance, including selective investment in high-potential companies. Since its launch in 2004, JumpStart has assisted more than 36,000 entrepreneurs, leading to $17 million invested in 49 companies and a four-year economic impact of $267 million on northeast Ohio.
SSTI is a national nonprofit organization that works to strengthen state and regional economies through science, technology and innovation.
Sources: SSTI and JumpStart staff
Writer: Gene Monteith