Press Room >> 2009 Press Releases For Immediate Release: TechColumbus and JumpStart Receive Technology- COLUMBUS – State Science and Technology Institute (SSTI), a national nonprofit organization dedicated to improving science and technology programs at the government-industry level, announced TechColumbus and JumpStart as winners of the 2009 Excellence in Technology-Based Economic Development Awards. “Substantial, targeted investments support Ohio’s growing network of entrepreneurs and start-ups,” said Lisa Patt-McDaniel, Director of the Ohio Department of Development, which oversees the Ohio Third Frontier and the Thomas Edison Program. “These leading-edge organizations deserve commendation for their efforts to enhance Ohio’s capital and entrepreneurial environments.” TechColumbus and JumpStart are important regional organizations that contribute to a growing statewide network of entrepreneurial services and investment in Ohio that, since 2007, has been supported with more than $120 million from the Ohio Third Frontier and the Edison Incubator Program. Further contributing to the growth of capital resources available to promising technology-based start-ups, the state has also supported the Ohio Venture Capital Authority and Technology Investment Tax Credit Program. “We have been firmly committed to making Ohio a leader in providing entrepreneurial businesses all the ingredients necessary for their success”, said John Griffin, Director of Development’s Technology and Innovation Division. “The national recognition given to TechColumbus and JumpStart indicates that we are achieving our goals.” TechColumbus’ TechStart Program was awarded in the Building Entrepreneurial Capacity Category for providing developmental support for viable entrepreneurial companies from early phase to launch. The TechStart team, in collaboration with its partners, has made direct investments of $11.5 million in technology startups across a 15-county central Ohio region. TechStart Program assistance has resulted in the creation of 912 jobs with an average annual salary of more than $62,000. JumpStart Inc. received an award in the Increasing Access to Capital Category for its work to accelerate the growth of high potential, early-stage businesses by assisting companies to reach milestones and raise capital for rapid growth. Since its inception, JumpStart has invested in 40 portfolio companies and worked with almost 400 others, assisted companies in raising $140 million in external funding, and created total economic impact of $177 million. The Ohio Department of Development established the Edison Technology Incubator Program to assist technology-oriented start-ups during their concept definition and development stages, allowing entrepreneurs to concentrate their limited resources on the development of their product/service by drawing upon the proven expertise and support of the incubator. ### Media contacts: Robert Grevey at (614) 466-6619
October 27, 2009
Based Economic Development Awards
Ohio Third Frontier Partners Distinguished in Independent Categories
Ohio Third Frontier, an unprecedented and bipartisan commitment to create new technology-based products, companies, industries and jobs, has commercialized or created more-than 500 companies and attracted $3.5 billion in private investment to Ohio, a 9:1 return on investment since its inception.
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