WHY OHIO’S SUCCESS DEPENDS ON STARTUP INNOVATION BY JULIE JACONO, CEO JUMPSTART AND JUMPSTART VENTURES
Ohio's economic growth has always been intricately tied to the success of startups. Entrepreneurs and inventors see opportunities in obstacles, and their achievements drive transformation. These leaders and their early-stage startups are key to solving business and life challenges, attracting top talent, and enhancing our state's competitiveness nationally and globally. At JumpStart, we focus on this vital part of the economy, supported by an extensive network in- cluding the State of Ohio and private sector partners,
to increase our client’s chances of success.
Ohio has a rich industrial history, and we take pride in our region's ability to create things that matter. How- ever, today's economy is multi-faceted, with strength across various sectors. To thrive in this new landscape, each of our successful companies must embrace agility, innovation, and a forward-thinking mindset. Start- ups bring fresh energy to our regions, creating an atmosphere that's not only exciting but also magnetic for the talent we need to grow. When I think about places like Nashville, Columbus, or Pittsburgh, I see a cer- tain buzz generated by a thriving startup scene. That's what we're building here in Ohio, and it's a future that everyone—from small businesses to large cor- porations—can be a part of shaping. At JumpStart, we work hand-in-hand with entrepreneurs to turn innovative ideas into successful, scalable businesses. We provide strategic advice, resources, and connections that early-stage companies need to overcome obstacles and secure business capital. Our approach is holistic—we don't just invest in companies but in people, offering guidance at every stage of their journey. This support helps startups navigate chal- lenges, accelerate growth, and contribute to Ohio's economic development. Let's talk about the tangible results. When startups succeed, they boost the entire economy. These com- panies create high-paying jobs, nurture new talent, and contribute to our communities through taxes and economic activity. Whether it's in urban centers or rural areas, the impact is undeniable. In 2023 alone, tech startups that received assistance from JumpStart and its partners generated over $1.6 billion in economic activity and supported 9,497 jobs across Ohio. And here's where Ohio's established businesses come in. As critical as it is to provide capital and services, it is equally vital to support the market entry of these companies. For many, a sales cycle of 18+ months is the determining factor of their success. It is rational to be cautious and risk-adverse, but by becoming first customers or more importantly co-development partners for startups, Ohio companies can play a crucial role in investing in our future. This isn't about charity work—it's about strategic alignment. When a startup's innovation aligns with corpo- rate operational pain points or strategic goals, it creates a win-win scenario. The corporation gets a solution tailored to its needs, while the startup gains experience and credibility by addressing an industry problem. A practical example of this can be in addressing labor costs or operational efficiency issues. By providing a customized software solution that directly benefits the corporation, the startup helps solve a significant
Made with FlippingBook Digital Proposal Creator