Jumpstart Inc.

On Thursday, July 25, Jumpstart hosted “First To File,” a panel discussion on patent law changes. Moderated by Barbara Morgan and featuring panelists Elyse Ball, Esq. of The University of Akron Research Foundation; Patricia Smith, Esq. of P.A. Smith, LLC; and Daniel J. McMullen, Attorney At Law for Calfee, Halter & Griswold LLP; the discussion covered major aspects of the first-to-file system and how it differs from the previous patent process. In addition, the event addressed the implications of this reform on entrepreneurs and their technology, and even how it might change how startups, universities and other innovation hubs conduct business.

In 2012, there were nearly 1,300 incubators in the United States. The 2012 State of the Business Incubation Industry report revealed that around 93% of those incubators were nonprofit organizations focused on economic development and about 47% of them operated in urban areas. In Greater Cleveland, there are a number of incubators that, while working in their individual communities, are part of a connected Network of entrepreneurial resources—including seed funds, accelerators and mentors—across the region. JumpStart's Samantha Fryberger sat down with Jim Cossler, Chief Evangelist and Entrepreneurial Expert of the Youngstown Business Incubator, George Buzzy, Executive Director of TECHudson, Bob Cohen, CEO and Director Of Business Assistance of the Braintree Business Development Center, and Dave Crain, Director of Entrepreneurial Services for The Incubator at MAGNET, to learn more about their individual missions, benefits and collective impact when it comes to accelerating high potential companies.

In 2012, 108 Northeast Ohio companies raised $212 million in equity capital from angel and venture capitalists to grow their businesses. Still, the process of raising capital is a struggle for many, if not most, entrepreneurs. Imagine convincing potential investors—especially ones you don’t know—to put money into your company above other opportunities. It requires, among other things, technique, a strong business model and confidence.JumpStart's Samantha Fryberger sat down with a succesful fundraiser (Onshift CEO Mark Woodka) and an investor (Karen Spilizewski of Rivervest Venture Partners) to to find out what else it takes to get the money your company needs to grow.

Greater Cleveland would not have been thought of as the land of entrepreneurial opportunity or activity 10 or so years ago. The region survived on established industry for quite some time, but found itself coming up short on jobs in the 1980s and 1990s. Over the past decade, the region banded together to get the entrepreneurial ball rolling with seed funds, incubators, accelerators and other key resources. Now Northeast Ohio is flush with an array of programs and startups successfully raising capital and getting national attention. But that’s not the complete picture of a thriving entrepreneurial ecosystem. There needs to be vibrancy, a sense of connection, culture and community. We sat down with Nick Barendt, Laura Bennett, Paul McAvinchey and Nichelle McCall to discuss the importance of culture and opportunities created for entrepreneurs, by entrepreneurs ... many of which are focused on peer networking and education.

Every business needs capital to grow—but getting that funding in place can be a challenge. In this panel discussion moderated by JumpStart Chief Inclusion Officer Darrin Redus, Charter One Bank President Ken Marblestone, JumpStart President John Dearborn, Economic and Community Development Institute (ECDI) Vice President Eric Diamond and RiverVest Venture Partners Vice President Karen Spilizewski discuss the variety of ways an entrepreneur can finance their business—from bootstrapping to securing investors. Listen as the panelists explain the pros and cons of loans, equity capital and grants, and help entrepreneurs determine what type of funding could be most beneficial to their growing venture.

The City of Alliance recently became the sixth Northeast Ohio community to launch a hyper-local fund to support tech entrepreneurs, following Akron, Canton, Wooster, Barberton and Cuyahoga County. Listen in and learn more about the excitement around this forward-thinking economic development initiative and hear from the entrepreneurs interested in this new source of early-stage capital.

Pitching an investor can be one of the most anxiety-inducing things an entrepreneur has to do. On Wednesday, April 17, JumpStart hosted “Perfecting Your Pitch,” a panel discussion about what to do (and not to do) when approaching investors, as well as what makes a compelling pitch that resonates with investors. Moderated by JumpStart Venture Partner Lee Poseidon, the panel included: Dennis Cocco, Director of GLIDE, serial entrepreneur and investor Doug Weintraub, JumpStart Venture Partner John Blair and George Buzzy, Entrepreneur-in-Residence for JumpStart, TECHudson and the Youngstown Business Incubator.

On Thursday, April 25, nine Northeast Ohio entrepreneurial companies were recognized as new members of the Charter One Launch100 Leadership Circle. The Circle, which was established in 2012, recognizes diverse entrepreneurs committed to turning their business ideas into some of the region’s most impactful companies. The 2013 class joins the members of last year’s inaugural Launch100 Leadership Circle in forming a regional peer network of high-growth minority-and women-led companies.

On Wednesday, April 17, Northeast Ohio business leaders, investors, college students, faculty and families gathered at the University of Akron's Martin Center for the 7th annual LaunchTown Entrepreneurship Awards. An academic idea competition available to students of any major area of study from Northeast Ohio colleges and universities, LaunchTown seeks to find the best new idea for a business, product or service to create wealth. The winner receives $10,000, courtesy of a Burton D. Morgan Foundation grant, plus a package of mentor and advisory services from the LaunchTown Leadership Team.

As the US looks to create new jobs, new opportunities and new industries, we're supporting and investing in our regional entrepreneurial ecosystems--which represent the collective of tech-based economic development organizations, entrepreneurial incubators, colleges and universities, venture and angel funds, and other resources dedicated to spurring the creation of a region's high growth entrepreneurs. And yet, we’re not reaching everyone. For example, according to CBInsights, in 2011 only 1% of venture-backed companies had a black founder. JumpStart had the opportunity to discuss the importance of and the barriers to creating inclusive entrepreneurial ecosystems with Carmen Ortiz-McGhee, Claude Kennard and our own Darrin Redus. Here’s some of our lunchtime conversation about how communities can foster the development of inclusive entrepreneurial ecosystems that produce higher growth, diverse businesses and why that’s ultimately critical for our country’s economic competitiveness.

On Tuesday, March 12, the JumpStart Entrepreneurial Network, with help from BioEnterprise, hosted a presentation led by Liz Powell, Principal and Founder of G2G consulting, about the Rapid Innovation Fund and related funding opportunities from the Department of Defense for biosciences, IT, aerospace and other high-tech innovations that can assist the military. The Rapid Innovation Fund program provides $500 million in awards of $3 million each in the form of a contract to companies conducting R&D. So far, 172 companies have received funding since the Rapid Innovation Fund was launched in 2011.

If you think mentoring only benefits companies and entrepreneurs who are just starting out, think again: Whether you’re an established business owner or a newly minted startup founder, getting (or giving) advice can help you grow. On Tuesday, March 19th, JumpStart hosted a lively discussion about what mentoring is, how it can help businesses grow and why it’s more important than ever—to both mentors and mentees. Moderated by Anthony Hughes, Director of JumpStart’s mentoring program, the discussion panel included: Albert Ratner, Co-Chairman Emeritus of Forest City Enterprises; Samuel Gerace, CEO of VERITIX ; Paul Allen, Leader of Bizdom; and Lissette Rivera, CEO of SafeCare.

The mentoring program at JumpStart was created to expand Northeast Ohio’s capacity to deliver resources and assistance to some of the region's most promising entrepreneurs. The initiative, supported by the Burton D. Morgan Foundation, is focused on channeling the expertise of teams of experienced and successful business leaders to support of the region’s newest technology entrepreneurs. By doing so, the program gives a boost to promising young companies that could go on to become significant employers in our community. In this roundtable conversation, JumpStart's Samantha Fryberger is joined by Lee Nielsen, Gordon Daily and Anthony Hughes to discuss the values and benefits of mentoring programs for entrepreneurs.

In 2012, over half of Northeast Ohio companies that attracted outside equity investment received some money from angels. In this panel discussion, moderated by JumpStart Managing Venture Partner Jerry Frantz, eFuneral Co-Founder Bryan Chaikin, StreamLink Software President and CEO Adam Roth, and Clay Rankin, Manager of North Coast Angel Fund, discuss their experiences and offer advice to young companies seeking and receiving angel investments.

Angel investments can be vital to a company’s growth and development. However, knowing how to access this capital—or figuring out what angel investors are looking for—can be daunting. In this roundtable conversation, angel investor Ben Sheridan, North Coast Angel Fund Executive Director Todd Federman and JumpStart Chief Investment Officer Lynn-Ann Gries discuss the angel investing process—everything from what they look for in an investment and how companies should prepare to pitch (or receive) angel investment to why angels are important to the economy.

We opened Cleveland Magazine’s annual issue devoted to the region’s most interesting people and were thrilled, but not surprised, to see two of JumpStart’s favorite entrepreneurs featured this year: Laura Bennett, CEO and co-founder of Embrace Pet Insurance and Lindsay Sims, founder of the IT startup Renter’s Boom. Both IT-savvy female founders are growing innovative companies and blazing trails as part of a growing number of successful female entrepreneurs in Northeast Ohio.

The 2012 Northeast Ohio Entrepreneur Expo featured 117 young companies, more than 30 entrepreneurial support providers and welcomed over 1200 registered attendees ... making it JumpStart's biggest startup showcase yet. One of the highlights of the expo was an entrepreneur panel discussion, "Northeast Ohio Startup Success Stories You Should Know" which offered many insights into starting and growing a multimillion-dollar company in Northeast Ohio. Hosted by Jacqueline Acho, President of The Acho Group, the panel included: Dr. David Kay (CMO of Orthohelix Surgical Designs), Andy Lefkowitz (President and CEO of Ganeden Biotech), Ron Seide (VP & General manager of Connectivity Products Business Unit at Laird Technologies ) and Brittney Gonzalez (PR Manager at LivingSocial).

On Thursday, September 6, JumpStart invited Jonathon Vinocur, Partner at Thompson Hine, LLP, to speak at the information session, "LLC, C-Corp or S-Corp: What's Right for My Business?" At this Dominion-sponsored event, Vinocur discussed why forming an entity is one of the most important things entrepreneurs can do to protect their businesses and personal assets. He also explained the differences among LLCs, C-Corps and S-Corps--including the requirements needed to maintain them-and also shared examples of times when entrepreneurs made the right and wrong choices.

Why is Northeast Ohio the right place to start a business? Listen to the podcast to hear how some of the region’s most successful entrepreneurs are harnessing Northeast Ohio’s funding opportunities, comprehensive small business resources and top talent.

According to a new survey of Generation Y workers, one of the most popular majors for that group is "entrepreneurial studies." This is a relatively new area of study, and it’s also a discipline that’s not easily summarized. Still, the Northeast Ohio educators, entrepreneurs and students interviewed in the latest JumpStart Entrepreneurial Network podcast believe that entrepreneurial education has great value outside of the classroom—and fosters skills and strengths which resonate long after graduation.