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Hawaii Strategic Development Corporation (HSDC), High Technology - - PowerPoint PPT Presentation
Hawaii Strategic Development Corporation (HSDC), High Technology - - PowerPoint PPT Presentation
Hawaii Strategic Development Corporation (HSDC), High Technology Development Corporation (HTDC) and Enterprise Honolulu December16, 2010 JumpStarts Mission JumpStarts mission is to increase the economic impact and sustainability of
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JumpStart’s History
- Case Western
Reserve University and NorTech announce collaboration in creation of a new
- rganization
to support Northeast Ohio’s entrepreneurs
- JumpStart is
launched and makes first investments in 5 companies
- JumpStart
receives first Ohio Third Frontier grant
- JumpStart
receives its second grant from Ohio Third Frontier
- JumpStart’s
portfolio reaches 23 invest- ments in 19 co.’s
- IdeaCrossing
launches (online community resource focused on helping entre- preneurs find business assistance and investment capital
- Expand direct
services for entrepreneurs with focus on expansion of support for earlier-stage & diverse entrepre- neurs
- JumpStart’s
portfolio achieves its 75th investment in its 53rd company
- Expand
focus to managing entre- preneurial ecosystem
- Expand
advisory services to regions
- utside Ohio
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Two robust programs to support regional entrepreneurs directly
Guides innovative, early- stage Northeast Ohio companies towards creating wealth by providing seed capital, experienced advisors and a network of vital resources. Provides targeted resources and investment capital to high-growth, early-stage minority, women, and inner- city based business through an integrated network of regional stakeholders.
Associated NEO Investment Funds:
North Coast Angel, Innovation Fund, North Coast Opportunities, Glengary LLC, Em erging Market, Euclid Ventures
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Kevin Berner Logos Energy
- One of BusinessWeek’s “World’s 25 Most Intriguing Companies”
- #70 of top 1,400 biofuel companies
- Secures JumpStart funding
- Raises significant additional
angel and grant capital
- 42 employees
- Pilot plant in Hawaii
2005 - 2006 2007 - 2010
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Projected growth path
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Claude Kennard MAR System s
- Claude, in partnership with the Environmental
Protection Agency, identifies the media materials and their features
- Receives investment from JumpStart
Ventures
- Further develops solution (customized
“media” mixes” )
2005 - 2006 2007- 2008
- Raises VC Round of capital
- Moves into commercial pilot
2009 - 2010
MAR System s has com m ercialized a patented solution to cleanse industrial w aste w ater stream s of harm ful contam inants, such as m ercury and arsenic. Projected growth path
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Impact of First 5 Years
7
20 0 6
$42.8 M
20 0 8
$75.7M
308 346 502 30 8 346 50 9
50 portfolio com panies
- Over 4 50 jobs
- $245MM in capital
raised
- Received 250+ patents
- Regional and national
recognition
Econom ic im pact
- $267MM in econom ic
im pact in 2006-2009
- Generated $12.1 MM in
taxes in 2009, $3MM
- ver entire budget
- Created 8 11 jobs
Com m unity engagem ent
- 35,0 0 0 + community
members
- 8 7,750 hours of free
assistance
- Approached by 8 ,30 7
entrepreneurs
- Received 2, 317 business
plans
Inclusion focus
- Assisted 48 client
companies that hold 15 patents
- $24MM in capital raised
- Launched JumpStart
Launch100 initiative
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- The JumpStart
Entrepreneurial Network
– Providing day-to-day
- perational leadership to all
Ohio Third Frontier supported ESP (Entrepreneurial Signature Program) initiatives in NEO – Connecting collaborators across NEO that are not part of the ESP to each other including higher educational institutions, public and private sector partners, investors, individual experts
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Increasing JumpStart’s Northeast Ohio Collaborative Role
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Members of the JumpStart Entrepreneurial Network
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National Recognition & Media Coverage
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‘Charities Work to Lure Start-Up Businesses to Cleveland’ May 2009 ‘Venture Investing with a Mission Beyond Profit’ July 2008
2010 & 2009 SSTI Excellence in Technology-Based Economic Development
“ Jum pStart’s success dem onstrates that w ell-executed capital initiatives can help catalyzes entrepreneurship.”
– SSTI President & CEO, Dan Berglund
2009 EDA Excellence in Development
“ Jum pStart Inc. represents the best and brightest in 21st century econom ic developm ent.”
– Commerce Secretary Gary Locke
June 2009
How Cleveland, Ohio, is becoming… A City For Entrepreneurs Novem ber 2009
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Newest program is to help increase entrepreneurship in other U.S. regions
Engages with regions across the U.S. who desire to develop, fund and execute regional entrepreneurial action plans that will lead to the creation of a high-performance entrepreneurial ecosystem.
Communities: Minnesota, Indiana, Michigan, New York, Ohio
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Our Work in Other Regions
Regional Entrepreneurship Action Plan ( REAP)
- Development: Form an advisory group of regional
commercial and community leaders
- Resources: Engage with local, regional, state and
national organizations who desire to support the implementation of the REAP
- Implementation: Work with the regional partners
and collaborators to put in place the capabilities identified in the REAP
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JumpStart is a P4:
Public/ Private/ Philanthropic Partnership
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Public/ private/ philanthropic partners have contributed almost $60 million to JumpStart
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Allocation of resources through FY 2010
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