The document provides stories of icons and innovators from Northeast Ohio who helped transform the regional economy. It discusses Charles Brush, the inventor of the street light who founded Brush Electric which later merged to form GE. It also profiles B.F. Goodrich, who brought his rubber company to Akron, helping establish it as the "Rubber Capital of the World." Additionally, it tells the story of Raymond Kralovic, who developed an improved sterilization process and founded STERIS Corporation.

1. REALIZING
OUR FUTURE
STORIES OF ICONS, INNOVATORS & IMPACT
2009 COMMUNITY REPORT

2. “JumpStart Inc. represents the
best and brightest in 21st century
economic development.”
–U.S. Commerce Secretary Gary Locke
Table of Contents
1 Message to Our Community
2 The Path of Icons
& Innovators
3 Stories of Icons
6 Stories of Innovators
12 JumpStart’s Impact
14 Recognizing Our Donors
16 Realizing Our Future

3. MESSAGE TO OUR COMMUNITY
This year, JumpStart is celebrating the entrepreneurial # Reaching more than 5,000 community members and
icons and innovators of our region. We are inspired by entrepreneurs to tell them about JumpStart and Northeast
these visionaries who take an idea and with the right tools, Ohio’s robust entrepreneurial ecosystem while building the
transform it into a company that brings wealth and prosperity skills of more than 275 entrepreneurs with JumpStart’s own
to an entire community. These are the people who have educational seminars.
generated prosperity for Northeast Ohio in the past, and are
in the process of realizing the region’s economic future. # Creating over $75 million in economic impact in the region,
including generating tax revenue of $8.3 million to the
In this report, we tell the stories of Charles Brush, B.F. federal and state government. This revenue is almost equal
Goodrich, and Ray Kralovic, all of whom had the vision to JumpStart’s annual budget, including funds for direct
to create companies that generated billions of dollars in investments.
revenues and employed hundreds of thousands of people.
The region hasn’t had enough people with the vision, the # Rebranding our services to make ourselves more accessible
persistence, and the leadership of these entrepreneurs. to more entrepreneurs by adding JumpStart TechLift
That is why JumpStart was created: to increase the number Advisors and JumpStart Inclusion Advisors (and the related
of entrepreneurs able to turn a disruptive idea into an 395 entrepreneurs these teams support) to our portfolio of
impactful company, ultimately generating economic programs.
prosperity and wealth for all the region’s citizens.
# Raising over $10 million to support the operations and
Today, we are working with a new collection of entrepreneurial investments of JumpStart.
innovators. If history repeats itself, some of these individuals
will help realize the transformation of our region’s We are proud of these accomplishments, but it is the progress
economy once again. These entrepreneurs are following of the entrepreneurs we support that makes our work come
the same paths to growth as the entrepreneurial icons of to life. Read the historical stories and be inspired by what
the past, including raising capital, obtaining mentorship, entrepreneurs have accomplished, with the right tools.
and accessing talent. But today’s entrepreneurs have one More importantly, consider how the current innovators are
additional advantage: the support of a community which in the process of creating our region’s economic future.
has created a robust entrepreneurial ecosystem, led by
JumpStart, to provide them with capital and assistance. We continue to be extremely grateful to JumpStart’s donor
community. Thank you for your support of our work and of
JumpStart’s work in guiding companies led the Economic our region’s entrepreneurial innovators.
Development Administration to recognize JumpStart as a
recipient of the 2009 Excellence in Urban and Suburban
Economic Development Award. JumpStart’s other
accomplishments this year (ending June 30, 2009) include:
# Supporting over 400 entrepreneurs with thousands of
hours of free technical assistance and investing over $3.5
million in ten companies via JumpStart Ventures.
PhOTO CREDIT Diann Mistelske
# Assisting the JumpStart Ventures portfolio of companies
in raising over $23 million in follow-on capital, and
the JumpStart TechLift Advisors clients in raising $15
million, in a year with almost unprecedented challenges in
fundraising.
RAY T. LEACh DOUGLAS L. WEINTRAUb
Chief Executive Officer Chairman
J U M P S TA R T 2 0 0 9 C O M M U N I T Y R E P O R T 1

4. ThE PATh OF ICONS & INNOVATORS
The paths entrepreneurs take as they build a company are similar,
whether they started a business 100 years ago or start one today.
The entrepreneurial icons from Northeast Ohio’s past led their
companies down this high growth path and created organizations
that have continued to grow for decades. The innovators
JumpStart is working with today are on the same path and will
continue to follow that path as they realize their potential.
In the pages that follow, we tell the stories of both the icons of our
past and the innovators realizing our economic future. In addition
to telling these stories, we are using a chart to represent the growth
path they are following. The stages in the path are from Ohio Third
Frontier, one of JumpStart’s biggest supporters, and outline the
different stages of growth and activities in each stage. Although each
entrepreneur’s journey is slightly different, the general path is the same.
STAGES:
n IMAGINING (I): Idea and business model are conceptual.
n INCUbATING (IN): Technology and business model are in development, but products
are not yet for sale. This can include preclinical trials.
n DEMONSTRATING (D): Prototype technology is completed and sales orders can be
taken. Clinical trials and FDA approval occur.
n MARkET ENTRY (ME): Product or technology is being sold and revenue model is
determined.
n GROWTh & SUSTAINAbILITY (G&S): Company is an established and growing
business, with a plan to increase market share, revenue, and profits.
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5. ICON
PhOTO CREDITS Charles Brush: Copy of an original in the Special Collections Research Center, Kelvin Smith Library, Case Western Reserve University,
Charles Brush | Brush Electric Company
CHARLES BRUSH, the man credited with inventing the street George was impressed and invested, and with this vote of
light as we know it, was a lifelong innovator. He innovated confidence, Charles was able to raise additional money from
throughout his life, from age 12, when he made his own the Telegraph Supply Company. George’s company also
static electricity machine out of household items, to nearly offered technical assistance in developing, manufacturing,
30 years later, when he built the world’s first automatically and marketing the dynamo. With the capital and
operated wind turbine to power his home. Today, Charles assistance, Charles filed his first of 50 patents
Cleveland, Ohio. Arc Lamp: Permission for use courtesy of Cleveland Public Library Photograph Collection.
And the
Brush’s legacy is cemented in the role General Electric and continued to develop the arc lamp. His
growth
plays as a global innovator in energy creation. continues: research led to the ring clutch, an innovation that
2009: 300,000 let the arc lamp operate reliably and efficiently
employees
Charles quit his job selling iron ore in 1877 to work worldwide without supervision, and led to increasing the
on his idea for a dynamo electric engine and a 2009: $183 amount of fuel in the lamp, allowing it to run
billion in sales
powered arc lamp. At that time he looked to a 1891: Merges all night without maintenance. Two years after
with Edison
childhood friend for capital. George Stockly, General giving up his day job, Charles unveiled his
Electric
Vice President of Cleveland’s Telegraph Company
arc lamp system at what is now Cleveland’s Public Square.
Supply Company, heard from his to become According to The Plain Dealer, twelve lamps simultaneously
1880: General
own company directors that Reorganizes Electric Co. lit the square as thousands watched in amazement.
company to
electric lighting was “a
form Brush
field without a Electric By 1883, the systems were across the country from Boston
1878: Gains Company
future.” But endorsement to New York to San Francisco, the company’s revenues
from The 1883: $2
1877: Franklin million in reached $2 million, and it had a workforce of 400 associates.
Receives Institute revenue
By 1891, the company had merged with its top competitor,
investment 1883: 400
1879: Unveils
1876: Charles and guidance
electric lighting employees Thomson-Houston Electric Company, and then again
completes dynamo from
system on with Thomas Edison’s company to form General Electric.
design improvements childhood
Cleveland’s
on paper friend George
Public Square The mergers created the GE we know today, which has
1877: Works full time Stockly
to develop dynamo and over 300,000 employees with revenues of $183 billion,
electric arc lamp
and remains at the forefront of energy creation.
I IN D ME G&S
J U M P S TA R T 2 0 0 9 C O M M U N I T Y R E P O R T 3

6. Dr. Benjamin Franklin Goodrich | B.F. Goodrich Company
ICON develop an extensive research department
and allow B.F. to invent many of the
company’s initial rubber products,
laid the foundation for innovation
in rubber for the next century.
Out of the Goodrich research
facility came innovations
Akron, Ohio would never have that put rubber tires on
been dubbed the “Rubber Capital automobiles, equipped every
of the World” if it weren’t for U.S. World War I plane with
DR. BENJAMIN FRANKLIN aircraft tires, provided airplanes
(B.F.) GOODRICH. With an with de-icers, and put Alan
entrepreneurial mindset and a Sheppard in a spacesuit. The
vision for the future, B.F. brought effect the B.F. Goodrich Company
his small, innovative rubber company had on the city of Akron as one of the
to Akron and laid the foundation for an largest tire and rubber manufacturers
And the
international organization that would introduce in the world was transformational; growth
continues:
the world’s first car tire, aircraft tire, and spacesuit. Akron became the “Rubber Capital of
1949:
the World” as additional industry leaders such Produces first
B.F., a physician and inventor, invested in a small New as Goodyear and Firestone came to the city. The B.F. passenger car
tire containing
York-based rubber company in 1869 with his business Goodrich Company eclipsed the million dollar synthetic
1892: 400 rubber
partner John P. Morris. He used his investment to pursue sales mark in 1892, reaching $1.4 million and
associates 2008: $7
his passion for inventing, but struggled to get the company employing 400 people. Its sales numbers 1892: $1.4 billion in sales
going in New York. Familiar with Ohio after attending continued to climb in the 20th century million in 2008: Over
sales 25,000
what is now CWRU School of Medicine, B.F. was inspired and as the Goodrich Corporation 1897: Winton employees
1888:
by the financial incentives the city leaders of Akron were today, the company employs over Car Company worldwide
$696,000 in
sales uses and
offering for manufacturing companies to relocate to the 25,000 and is continuing its markets the
1890s: pneumatic
city. In 1870, seven prominent Akron citizens invested legacy of innovation. 1880: Introduces tire
$100,000 pneumatic
$13,600 in the company (the equivalent of $250,000
University Libraries Archival Services.
stock issued tire and
use courtesy of University of Akron
today), which secured the company’s location in Akron. 1880: 55 experiences
PhOTO CREDITS Permission for
full-time rapid sales
With various follow-on funding investments throughout 1870: Relocates company growth
employees
to Akron after $13,600
the 1870s, B.F. added qualified, experienced business 1869: B.F.
investment from Akron 1880s:
invests in
leaders to his company. One of those individuals was civic community leaders Applies solid-
NY rubber
1878: Secures angel band tire
George W. Crouse, who made an angel investment in 1878 company
investment and guidance technology to
from George Crouse who bicycles
and put his finance and business background to work
becomes VP
as Vice President. George’s funds, which were used to
I IN D ME G&S
4 R E A L I Z I N G O U R F U T U R E : S T O R I E S O F I C O N S , I N N O V AT O R S & I M P A C T

7. ICON
Dr. Raymond Kralovic | STERIS Corporation
Microbiologist RAYMOND KRALOVIC, Ph.D., McDonald and Company, Invacare, Ameritrust,
had an idea. He thought he could develop and other Cleveland area investors in 1987.
an improved process that would sterilize the
small, sensitive, and complex instruments Within three years of the venture
used for minimally invasive surgery. round, STERIS began international
PhOTO CREDITS Ray Kralovic: Courtesy of Ray Kralovic. System 1®: Photo provided courtesy of STERIS Corporation.
The passion he had for this one shipping of SYSTEM 1 and a couple
innovative solution helped define years later it made an initial public
Northeast Ohio as a center for offering with revenues over $45
And the
medical technologies and devices. million and employment at 200. The growth
company’s innovation didn’t stop with continues:
Over 25 years ago, Ray proposed the idea to his employer, Ray’s idea, as STERIS holds 280 U.S. 1998: Moves
to NYSE
an established leader in infection control equipment. His patents and 626 foreign patents, with another 96 2004: $1
employer however, thought the innovation was too radical U.S. and 374 foreign patents pending. Its revenues billion in
1990: Begins sales
and a risky investment. After being refused R&D funding for reached the $1 billion mark five years ago and international
shipments
two years, Ray left his job and partnered with Ed Schneider, today STERIS employs 5,000 people with
1992: IPO on
a medical engineer and entrepreneur, to work on the idea. representation in more than 60 countries. Nasdaq
1988: 1992: 200
With his first external investment in 1985, Ray completed the It remains the preeminent prevention, Manufac- employees
prototype of the SYSTEM 1 Sterile Processing System and
®
decontamination, and surgical tures and
ships first
filed his first patent. The Mentor-based company received technology company in 1988: product
Completes
follow-on funding from the State of Ohio in 1986 and Ray the world. regulatory
began to validate the product’s marketability. To continue 1987: reviews
Receives and
development, he contacted Primus Venture Partners, a receives
Primus
market
Cleveland-based private equity partnership. The fund investment
clearance
and
put Ray in contact with Bill Sanford, President of Symark 1983: Ray’s employer denies guidance
request to fund sterilization idea from Bill
Associates and a healthcare consultant with a history of 1985: Moves to Mentor and Sanford who
buying and selling medical technologies. Ray won Bill’s buy- founds STERIS with Ed Schneider becomes
1985: Secures funding President
in, brought him in as President of the company, and received
a venture capital investment of $1.2 million from Primus,
I IN D ME G&S
J U M P S TA R T 2 0 0 9 C O M M U N I T Y R E P O R T 5

8. From ThE iConS oF our pAST To ThE innovATorS
who ArE rEAlizinG our FuTurE.
“JumpStart has been critical to Juventas’ development. By
leading our initial seed round and providing ongoing support,
they are playing a vital role in transferring our technology from
the laboratory to the successful treatment of human disease.”
Dr. Rahul Aras | Juventas Therapeutics
A JumpStart Ventures portfolio company
DR. RAHUL ARAS has seen hundreds of biotechnology and
pharmaceutical technologies come out of the Cleveland Clinic. 2008: Completes
As the former Director of Life Science Commercialization at product formulation and
initiates FDA-guided pre-
Cleveland Clinic Innovations, he was responsible for licensing clinical animal studies
dozens of technologies to industry partners, including the two 2008: Raises nearly
$7 million in Series A
largest biotechnology deals in Cleveland Clinic history. Of those investment
2007: Rahul launches Juventas
technologies, Rahul is most excited about the one he is now Therapeutics with Dr. Marc Penn and 2009: Secures
Cleveland Clinic $800,000 from Ohio
working to commercialize through Juventas Therapeutics, a Center for Stem Cell &
2007: Raises $750,000 institutional Regenerative Medicine
Cleveland Clinic spin-off company he helped create in 2007. investment round led by JumpStart
2009: Submits
2007: Secures $1 million through Ohio Investigational New
Global Cardiovascular Innovation Center Drug application to FDA
Juventas Therapeutics is developing novel regenerative therapies for first product
for cardiovascular disease discovered by Dr. Marc Penn, a I IN D ME G&S
Cleveland Clinic cardiologist. Rahul introduced Juventas to
JumpStart Ventures while working to close an initial funding of its development milestones and demonstrated pre-clinical
round that would fund early product formulation and pre- proof of concept for its lead product. During this time, Rahul
clinical animal studies. JumpStart Ventures led the financing, continued to work with a JumpStart Venture Partner, executing
which closed in July 2007, and included investment from North a follow-on funding strategy necessary to complete additional
Coast Angel Fund, Blue Chip Ventures, FDA-guided animal studies and a Phase I clinical trial.
and several local angel investors. Within
INNOVATOR one year of funding, Juventas reached all Juventas closed a Series A venture round in October 2008,
led by Cincinnati-based Triathlon Medical Ventures and
including investment from Early Stage Partners, Fletcher
Spaght Ventures, and Reservoir Venture Partners, as well as
every investor from the initial funding round. Since his initial
meeting with JumpStart, Rahul has raised nearly $10 million
in funding, including $1 million from the Global Cardiovascular
Innovation Center and $800,000 from the Ohio Center for
Stem Cell & Regenerative Medicine, and is transitioning
Juventas into its Phase I clinical trial. Completion of this
human trial will position the company to raise additional
PhOTO CREDIT Lauren Parsells
funds, which will be used to further develop its lead product
and expand into other clinical disease states. “JumpStart
has been critical to Juventas’ development. By leading our
initial seed round and providing ongoing support, they are
playing a vital role in transferring our technology from the
laboratory to the successful treatment of human disease.”
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9. INNOVATOR
“The region has a
tremendous asset in
JumpStart, which helped
us immensely initially,
and continues to support
us even after we have
‘graduated.’ The region’s
other assets have made
it very easy for me to
attract talented people
from other places.”
Dr. Kevin Berner | Logos Energy
A JumpStart Ventures portfolio company
DR. KEVIN BERNER introduced the world to a new alternative Because of his company’s funding progress, Kevin was able to
energy technology in 2005 through Contained Energy. But assemble a team of 25 full-time associates, many of whom hold
leading the development of one innovation wasn’t enough for the Ph.D.s in their fields. Positions include research scientists,
former Army Officer and McKinsey Partner, and when Contained engineers, and project managers, plus an additional 17 seasonal
Energy presented yet another opportunity, he took it on. interns who are learning from experts in the alternative
energy field. “Growing a renewable energy company in
Kevin brought Contained Energy, which produces direct carbon Northeast Ohio is the ride of a lifetime. The region has
fuel cells that use inexpensive, readily available carbon as a tremendous asset in JumpStart, which helped us
fuel, to JumpStart Ventures in July 2006. Alongside another immensely initially, and continues to support us
engineer, Kevin worked with a JumpStart Venture Partner to even after we have ‘graduated.’ The region’s other
set aggressive technical, fundraising, business development, assets have made it very easy for me to attract
and hiring milestones. During their development, Kevin talented people from other places. The
found tangential intellectual property that sparked the launch excitement of a clean energy startup, in
of Phycal, which develops and commercializes systems for an area with a low cost of living and
growing algae and harvesting commercially viable energy tremendous cultural assets,
products from the biomass. Contained Energy and newly- is a very attractive
formed Phycal both became subsidiaries of a new parent package.”
2007: Raises angel investment
company, Logos Energy. As a JumpStart Ventures client, and grant money
PhOTO CREDIT Diann Mistelske
Kevin has been successful in his fundraising efforts. Logos 2008: Raises additional angel
investment and grant money
Energy has raised nearly $8 million in additional investment 2008: Creates holding company
2005: Kevin licenses fuel cell Logos Energy and subsidiary
for the two operating companies and levered that funding
technology and starts Contained Phycal
with an additional $5 million in development contracts from Energy
2009: 42 employees and interns
2006: Secures funding and guidance
the Ohio Department of Development, the U.S. Army, the
from JumpStart
U.S. Air Force, and the National Science Foundation.
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J U M P S TA R T 2 0 0 9 C O M M U N I T Y R E P O R T 7

10. “We were able to land our beta customer in large part because of our
partnership with JumpStart TechLift Advisors. They are well connected in
the technology field and got us in touch with the right people.”
John Collier | M.O.M. Tools
A JumpStart Inclusion Advisors and
JumpStart TechLift Advisors client
2009: Starts commercial
test with Fortune 500 beta
customer
JOHN COLLIER is ready to revolutionize the metal fabrication 2009: Completes beta test
with successful results
industry. After perfecting and patenting the design of its punch 2008: Works with
JumpStart to secure
tool, M.O.M. Tools is taking on the $30 billion worldwide market. beta customer
Prior to 2008:
John patents idea
The design of John’s dual head punch tool incorporates an for tool and founds
M.O.M. Tools
angular groove that acts as a second punch head, resulting
in less breakage of the metal (maintaining the integrity of
I IN D ME G&S
the entire metal piece) and a cleaner hole than today’s punch
tools, all at a lower cost. As he began his search for a beta
customer in January 2009, John connected with JumpStart an extensive beta test and in early 2009 connected with and
Inclusion Advisors for guidance in forming secured a Fortune 500 industry leader as its first beta customer.
the company’s assessment guidelines. Out John also looked to JumpStart TechLift Advisors for metals
of that partnership, M.O.M. Tools developed expertise while developing the test site. “We were able to land
our beta customer in large part because of our
partnership with JumpStart TechLift Advisors.
They are well connected in the technology field
INNOVATOR and got us in touch with the right people.”
Completed in the summer of 2009, the beta test’s
results provided John with a Six Sigma validation
of the tool’s ability to provide manufacturers
with higher productivity at a lower cost. M.O.M.
Tools, along with Entrepreneurs-in-Residence
at JumpStart Inclusion Advisors and JumpStart
TechLift Advisors, is now developing a strategic
plan to roll out its dual head punch throughout its
customer’s entire plant with an extended plan to
PhOTO CREDIT Lauren Parsells
introduce it to the company’s sister plants around
the world. With a first customer and continued
sales he expects based on the validated beta test,
John projects the company’s revenue to exceed $1
million by the second year of implementation.
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11. INNOVATOR
Doug Hardman | SparkBase
A JumpStart TechLift Advisors client
“JumpStart’s
team helped
DOUG HARDMAN had a vision With the new funding, Doug made significant progress against
fill a gap that
for his software tool. Based on his key milestones, receiving an additional $500,000 in funding,
allowed us to
expertise and past experience in tripling the size of his team, and completing the 3.0 version of the
software development, Doug believed
grow much SparkBase software. This version incorporates an SMS Gift Card
he had developed a network that more quickly. Portal that connects to more than two million card holders –
introduced modern technology to Without the all of whom will be using the SparkBase network when they
the gift and loyalty card processing help of my cash in their cards – and allows merchants to connect
industry, which had been dominated Entrepreneur- with their customers instantly. SparkBase’s client base
by antiquated systems and thinking. has also tripled in just six months and Doug recently
in-Residence,
What Doug lacked was the resources signed a $125,000 deal to develop a whole new
I’d still be
he needed to add additional features platform tailored to one customer. “JumpStart’s
to the system and get the word
thinking of my team helped fill a gap that allowed us to 2009: Increases
out to the rest of the industry. vision instead grow much more quickly. Without customer base
by 400%
of making it the help of my Entrepreneur-in-
Doug connected with JumpStart happen.” Residence, I’d still be thinking
TechLift Advisors in January 2007 of my vision instead of 2009: Raises
Series A and
and began to finalize the company’s making it happen.” additional
angel funding
business plan and perfect his investor and completes
presentation. With the technical assistance and connections 2007: Works with new product
JumpStart to develop development
PhOTO CREDIT Lauren Parsells
provided by JumpStart TechLift Advisors, Doug secured a loan business plan and
Prior to 2006:
investor presentation
from Cuyahoga County’s North Coast Opportunities Technology Doug begins
development of 2008: Secures funding
Fund (NCOF) in October 2008. This infusion of development SparkBase from Cuyahoga
County’s NCOF
capital paved the way for a Series A round by Blue Olive Partners 2006: Doug
becomes CEO of
to ensure proper staffing and marketing of SparkBase. SparkBase
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J U M P S TA R T 2 0 0 9 C O M M U N I T Y R E P O R T 9

12. “Eight jobs might
not seem like a lot,
but that’s just the
beginning. I am
expecting to grow
INNOVATOR
our reseller channel
significantly, which
will require iGuiders
to hire customer
service personnel
and marketing
professionals to
support our growth
strategy.”
Jodi Marchewitz | iGuiders
A JumpStart TechLift Advisors client that became a JumpStart Ventures portfolio company
JODI MARCHEWITz knows there is over a $25 billion In order to achieve these and future milestones, Jodi has
market out there for her company. She identified the need developed a capital efficient hiring plan that meets the
to create easier and more productive Internet searches in company’s growth and investment needs. So far, Jodi has
early 2007 and had the skills to develop a new technology created eight positions within the company. Aside from herself,
solution based on expertise gleaned from senior roles at iGuiders now employs two web developers, a marketing director,
Rockwell Automation. Now Jodi is leading iGuiders into a and a marketing associate, as well as a contract sales director,
new market and hoping to align her company with search a part-time web developer, and a part-time chief technology
engine powerhouses like Google, Yahoo!, and Microsoft. officer. “Eight jobs might not seem like a lot, but that’s just
the beginning. I am expecting to grow our reseller channel
The iGuiders team consisted of Jodi and one contractor when significantly, which will require iGuiders to hire customer
she began developing the prototype and looking for technical service personnel and marketing professionals to
support and investment. iGuiders’ patent-pending online support our growth strategy. I also expect to add
decision technology, called Guiders, helps Internet users quickly additional developers to create advances in our
identify what they want, leads them to the exact information search and decision technology and lead-
they need, and guides them to make decisions faster. Upon generation platform.” Jodi’s expanded
receiving funding from the Civic Innovation Lab and Flashline team is anticipating dramatic revenue
Partners, Jodi looked to JumpStart TechLift Advisors in generation in the next
August 2008 to build a strategy that would lead to funding to few years.
continue product development. After helping to finalize her
investor presentation and assisting with market validation,
2009: Secures funding and
Jodi’s TechLift Advisors Entrepreneur-in-Residence brought guidance from JumpStart
PhOTO CREDIT Lauren Parsells
iGuiders to JumpStart Ventures. Jodi moved her company 2009: Launches Guiders
platform
into the Beachwood Business Development Center just prior to 2009: 8 employees
2007: Jodi identifies need for
receiving a JumpStart Ventures investment in February 2009. iGuiders
With ongoing coaching from a JumpStart Venture Partner, 2007: Raises friends and family
capital
Jodi refined her operating strategies, initiated beta testing,
and launched her lead-generation platform in June 2009.
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13. INNOVATOR
Mark Woodka | BSKLive
A JumpStart TechLift Advisors client that became a JumpStart Ventures portfolio company
MARK WOODKA has a successful entrepreneurial past. funding, Mark completed development of the software and
His first software startup became the sales arm for TMW began to expand his sales and marketing efforts. He knew the
Systems, a software company he helped grow from $1 company needed additional funding to penetrate the initial
million to $20 million in revenue. From there Mark became target market of healthcare, so Mark began working with his
Vice President of Sales at Flashline, an early-stage software JumpStart Venture Partner to increase the company’s visibility
company that was eventually sold to BEA Systems. Now among angel and venture capital investors and effectively
Mark is Chief Executive Officer of BSKLive, another software articulate the product’s strength and market potential.
startup reaping the benefits of his successful past.
By the end of fall 2009, BSKLive expects to attract another
BSKLive’s flagship product, “The process of equity investor in the range of $1 to $1.3 million. The
StaffKnex, is a web-based going through company continues to secure new customers in the
application that manages JumpStart is very healthcare market, with each customer’s cost savings
employee scheduling and averaging $50,000 to $100,000 per year. This
similar to the
staffing for companies with is expected to set the company on a course to
fundraising process,
shift-based workforces. After capture a substantial portion of all companies
presenting at JumpStart
which I’ve gone employing shift-based workers, including
TechLift Advisor’s First Pitch, through before. those beyond healthcare. This market 2009: Expands
Mark secured a JumpStart It’s tremendously represents 40 percent of the U.S. implementations
and proves sales
Ventures investment in helpful for workforce, which the team repeatability
January 2009 alongside an entrepreneurs calculates to be valued
angel investment from North at over $2 billion. 2009: Secures
because it prepares beta clients and
Coast Angel Fund. “The prepares to scale
them for the sales
process of going through
JumpStart is very similar
follow-on rounds of 2008: Mark becomes
2009: Beta
clients validate
funding that most CEO of BSKLive
PhOTO CREDIT Lauren Parsells
value proposition
to the fundraising process, Prior to 2008: 2009: Secures funding
which I’ve gone through businesses will need Mark sees and guidance from
potential in JumpStart
before. It’s tremendously in order to grow.” BSKLive’s product 2009: Completes next
helpful for entrepreneurs stage of software
development
because it prepares them for the follow-on rounds of funding
that most businesses will need in order to grow.” With the
I IN D ME G&S
J U M P S TA R T 2 0 0 9 C O M M U N I T Y R E P O R T 11

14. JUMPSTART’S IMPACT
JumpStart’s work since 2004 has created
impact not just with the entrepreneurs and
their companies, but within the Northeast Ohio
economy as well. Our impact includes reaching
entrepreneurs and investing in companies, Impact | On Company Growth
helping our clients identify and secure external Inception through June 30, 2009
funds for growth, and creating jobs and ripple-
type impact in the region. JumpStart Ventures
Investing
$14.37 million
through 51 investments in 39 companies, of
which 12 are woman or minority-owned or led
Impact | On Entrepreneurs
Inception through June 30, 2009
Creating the connections for
Reaching portfolio companies to raise an additional
30,140 $74.2
members of the entrepreneurial
community (6,030 of whom are diverse)
million
in external funding (excluding
to introduce the services of JumpStart
JumpStart funding) – a 5:1 leverage
ratio of JumpStart’s investment
Reviewing
6,620
business overviews from entrepreneurs
JumpStart Inclusion Advisors
Advising 25 client companies,
(1,125 from diverse entrepreneurs) of which some are JumpStart Ventures
portfolio companies and have raised
Providing over $23.3 million
67,650 in external funding
hours of free assistance to entrepreneurs
JumpStart TechLift Advisors
Connecting Advising
3,500
entrepreneurs with investors, business
370
client companies, which have raised
$19.1 million
mentors and service providers through
IdeaCrossing, the online resource
in external funding
12 R E A L I Z I N G O U R F U T U R E : S T O R I E S O F I C O N S , I N N O V AT O R S & I M P A C T

15. porTFolio AnD CliEnT
Impact | On Northeast Ohio’s CompAnY hiGhliGhTS
Economy
The portfolio and client companies with which JumpStart works
Economic impact over the past have had tremendous accomplishments.
three years totaling (Inception through 6/30/09)
$175 million,
Here are some highlights:
Recognized in the Top 10 in their fields
including $76 million in Northeast Ohio in 2008, • Embrace Pet Insurance
as reported by Cleveland State University – a 29 No. 2 pet insurance company according
percent increase from JumpStart’s 2007 impact of to PetInsuranceReview.com
$59 million • InSeT Systems
Top 10 technology of 2008 by Popular Science
• STACK Media
JumpStart’s 2008 impact included
Top 10 most visited sports website in the country
$8.3 million according to comScore Media Metrix
• Synapse Biomedical
in taxes generated – almost equal to JumpStart’s Top 10 medical innovation for 2009 by the Cleveland Clinic
annual budget, including funds for direct
recognized as leaders in their industries
investments
• Great Lakes Pharmaceuticals
“One of the more exciting technologies we have seen”
$20.9 million
according to the National Institutes of Health
• PreEmptive Solutions
in household income generated in 2008 “A company to watch” according to one of
the leading consultants in their field
502
• Tremont Electric
One of “America’s Most Promising Startups”
according to BusinessWeek
jobs created (direct and indirect) recognized by national media
• CardioInsight Technologies graced the
cover of Heart Rhythm magazine
• CardioInsight Technologies, CerviLenz, and Synapse
Biomedical highlighted in The New York Times
Impact | Recognized
• Embrace Pet Insurance and PreEmptive
Solutions featured in Entrepreneur magazine
JumpStart was the national recipient of the
• iCubed International’s microwave
2009 Excellence in Urban or Suburban featured on ABC’s The View
Economic Development Award • InSeT Systems featured in Inc. magazine
from the Economic Development Administration
• MAR Systems featured in Black Enterprise magazine
• PreEmptive Solutions noted in USA Today
JumpStart is the 15th most active early-stage investor • reXorce Thermionics featured in The Wall Street Journal
nationally according to Entrepreneur magazine and • Synapse Biomedical featured on Forbes.com
has been featured in The
Wall Street Journal, • Wireless Environment highlighted in VentureBeat
The new York Times, USA Today,
and The Chronicle of philanthropy, Secured 94 patents with another 87 in process
(JumpStart ventures portfolio companies alone)
with over 1,000 cumulative media placements
Secured partnerships with global leaders —
microsoft, Sears, FedEx, novelis, marriott,
IdeaCrossing was recognized with the and lloyd’s of london, among others
Dominion Foundation
hired 269 employees (JumpStart
Community impact Award and the ventures portfolio companies alone)
oberlin research Group Award
for Best Single Innovation raised $134 million in external funding
(not including JumpStart ventures investments)
J U M P S TA R T 2 0 0 9 C O M M U N I T Y R E P O R T 13

16. RECOGNIZING OUR DONORS
JumpStart is only able to accelerate the vision of the region’s entrepreneurs and the growth of their
companies because of the generous support of our philanthropic partners. It is because of their
commitment to our region’s current and future entrepreneurial economy that we are collectively on
the path to realizing a more prosperous future for Northeast Ohioans.
Leadership Donors
JumpStart especially recognizes the leadership and support of Ohio Third Frontier, a program of
the State of Ohio. Ohio Third Frontier, which catalyzes the innovation that is transforming Ohio’s
economy, has dramatically improved the entrepreneurial ecosystem across Ohio. JumpStart’s accomplishments manifest the
vision of the leaders of this program.
The Burton D. morgan Foundation The FirstEnergy Foundation vitality of 26 U.S. communities where the
The mission of the Burton D. Morgan Knight brothers owned newspapers.
Foundation is to strengthen the free Forest City Enterprises
enterprise system by investing in Charitable Foundation, inc. The national City Corporation
organizations and institutions that foster Charitable Foundation,
the entrepreneurial spirit. The Fund for our now pnC Foundation
Economic Future The PNC Foundation actively supports
The Cleveland Foundation The Fund for Our Economic Future organizations that provide services for the
The Cleveland Foundation improves unites philanthropy in Northeast Ohio benefit of the community, especially those
the lives of Greater Clevelanders now to strengthen the region’s economic services that assist in the development of
and for generations to come by building competitiveness through grant making, preschool children for success in school
community endowment, addressing needs research and civic engagement. and life. The PNC Foundation receives its
through grant making, and providing principal funding from The PNC Financial
leadership on vital issues. Greater Cleveland Services Group (NYSE: PNC).
partnership
CoSE As an association of business members, the The Donald and Alice noble
COSE is Northeast Ohio’s largest small Greater Cleveland Partnership mobilizes Foundation
business support organization and private-sector leadership, expertise, and
provides cost-effective group purchasing resources to create jobs and leverage ohio Third Frontier
programs, advocacy on legislative and investment to improve the economic Ohio Third Frontier catalyzes innovation
regulatory issues, and networking vitality of the region. that is transforming Ohio’s economy
and educational resource to help the for future generations by creating
region’s small businesses maintain their KeyBank Foundation new technology-based products,
independence and grow. The objective of the KeyBank Foundation companies, industries, and jobs. It has
is to improve the quality of life and four major pillars: to bring industry
The Economic Development economic vibrancy of the places where our and academia together to accelerate the
Administration, a division of the customers, employees, and shareholders development of new innovations and
u.S. Department of Commerce live and work. breakthrough technologies, to create
The Economic Development new opportunities for Ohioans, to build
Administration’s mission is to lead The John S. and sustainable and competitive industries,
the federal economic development James l. Knight and to build new businesses and invest in
agenda by promoting innovation and Foundation entrepreneurialism.
competitiveness, preparing American The John S. and James L. Knight
regions for growth and success in the Foundation promotes excellence in
worldwide economy. journalism worldwide and invests in the
14 R E A L I Z I N G O U R F U T U R E : S T O R I E S O F I C O N S , I N N O V AT O R S & I M P A C T