A JumpStart program that provides startups with mentoring from experienced entrepreneurs will broaden its reach through a $1m grant from the Hudson-based Burton D. Morgan Foundation.
The grant provides continuing support for JumpStart’s Burton D. Morgan Mentoring Program, which connects startups and small businesses with teams of up to four mentors who offer invaluable advice on everything from sales and marketing to raising capital and forming a board of directors.
With the funding, the mentoring program will not only provide ongoing assistance to entrepreneurs, but also work to engage entrepreneurs in the community in new ways, including:
– Engaging with more student entrepreneurs by holding office hours at local universities.
– Creating easier access and greater visibility for the program across Northeast Ohio by introducing new office hours at partner locations and by increasing the number of “ask a mentor” panel events throughout the community to reach more entrepreneurs.
Launched in 2012, the program has served more than 200 companies to date with 180+ mentors volunteering more than 10,000 hours to help entrepreneurs.
The companies served by the program have gone on to raise $74.9M in capital and generate $109.6M in revenue, and they currently employ nearly 200 people across the region.
JumpStart Inc. is a Cleveland, OH-based investing, entrepreneurial support and economic development organization dedicated to nurturing entrepreneurs to economically transform entire communities.