JumpStart Invests $750,000 in Three Northeast Ohio IT Companies
CLEVELAND, Oct. 26, 2011 /PRNewswire/ -- At the 2011 Northeast Ohio Entrepreneurial Expo and JumpStart Community Meeting, JumpStart CEO Ray Leach announced investments in three young entrepreneurial companies. The companies, all in the information technology space, each received $250,000 investment commitments from the nonprofit venture development organization.
Anderson Aerospace (anderson-aerospace.com) of Kent, Ohio designs and manufactures advanced technology satellite antenna systems for aircraft. Its compact, high efficiency system enables in-flight, in-cabin live television viewing and internet connectivity in aircrafts too small to carry presently available systems. Anderson's founders and technical staff are veterans of the avionics industry and have more than 100 years of combined technical expertise in satellite communications. Anderson will use the funding, along with recently awarded grants and private angel investment, to complete its "flight-ready" prototype.
OptixConnect (optixconnect.com), based in Wooster, Ohio, is creating a social network for private businesses and their high value stakeholders. The company's Software-as-a-Service offering combines the efficiencies of popular consumer-style social communication tools with business performance tracking and data-sharing technologies. It makes it easier for business professionals to securely interact and follow what matters while leveraging the talents, experience, and connections of their investors, board members, advisors, executives, and other VIPs. With the investment OptixConnect plans to finish the alpha version of its product and offer it to an initial group of early adapters.
SpearFysh, Inc. (spearfysh.com) offers a SaaS based business intelligence platform that digitally records, indexes, and analyzes voice and written data from sales calls. Its value-added data driven analytics will transform sales force productivity, increase sales, shorten sales cycle times, and vastly improve sales management. In addition, the unique technology will provide business analytics that offer vital unfiltered customer/prospect intelligence from field and phone interactions to sales, marketing, and product development departments.
"In a region that's known more for its cleantech and healthcare strengths, it is exciting to see three new, high potential IT companies come through our investment process at the same time," said JumpStart's Chief Investment Officer, Lynn-Ann Gries. "Especially since each company is led by an experienced entrepreneur who is focused on building a product for large, growing markets."
With these most recent investments, JumpStart has committed more than $22 million to 59 Northeast Ohio companies.
JumpStart Inc. accelerates the successes of entrepreneurs, their companies, and the ecosystems supporting them. Its number one job is investing time and sometimes dollars in diverse, early stage companies that are positioned to excel in high opportunity markets. The organization also supports the growth and strengthening of Northeast Ohio's innovation and entrepreneurial ecosystem and uses its experience in doing so to help regional leaders across the country to grow more entrepreneurial companies in their own regions. Learn more at www.jumpstartinc.org.
SOURCE JumpStart Inc.