In the early 2000s, a number of barriers stood in the way of recapturing the entrepreneurial energy on which Cleveland’s former economic prosperity was based. Aspiring entrepreneurs were hampered by a lack of skills necessary to convert good ideas into successful businesses, a scarcity of early-stage capital and a shortage of networking and support systems. With the help of a $300,000 grant from the Cleveland Foundation, JumpStart was launched in 2003 to provide business development services and seed monies to high-potential start-up firms.

The foundation subsequently invested $2 million in JumpStart’s venture-capital fund and granted $750,000 toward operations in 2010. The more than 120 high-growth companies currently in JumpStart’s investment portfolio or on its list of clients have indisputably boosted the regional economy. Since 2003, they have contributed $200 million in economic impact, attracted $517 million in venture capital and created or retained more than 1,500 jobs.