Northeast Ohio Organizations Receive International Recognition for Economic Development Approaches JumpStart and NorTech Win Excellence in Economic Development Awards from the International Economic Development Council
CLEVELAND, Oct. 3, 2012 /PRNewswire/ -- The International Economic Development Council (IEDC) has recognized the transformative work of Northeast Ohio economic development organizations. JumpStart (www.jumpstartinc.org) received a Gold Excellence in Economic Development Award in the category of Entrepreneurship for communities with populations of greater than 500,000, and NorTech (www.nortech.org) received a Gold Excellence in Economic Development Award in the category of Technology-Based Economic Development.
"We recognize JumpStart and NorTech for creating innovative and successful strategies to promote economic development in this period of global recovery," said Jay Moon, IEDC chair.
NorTech was honored for its Regional Innovation Cluster Model, a best practice approach to identify emerging regional innovation clusters and accelerate their growth. The NorTech Model, which includes its InSeven(SM) roadmap process, strategic interventions and metrics, is applied to emerging technology industries and has a focus on commercial interests as the driver for economic growth. NorTech's comprehensive cluster model can be applied to multiple technology-based industries and serves all organizations in the value chain and those that support the value chain.
"By leveraging Northeast Ohio's innovation-based assets, manufacturing sector, and strong entrepreneurial culture, the region has become a model for economic recovery," said Rebecca O. Bagley, president and CEO of NorTech. "Northeast Ohio's economic development initiatives are built upon strong public-private partnerships, which lay the foundation for growing emerging industries that will generate positive economic impact."
JumpStart's award recognized the nonprofit development organizations efforts to "Revitalize Regional Economies by Accelerating Entrepreneurial Successes." Launched in 2004 to nurture tech entrepreneurs that could go on to become Greater Cleveland's next generation of corporate employers, JumpStart provides resources and assistance – sometimes coupled with investment – to Northeast Ohio entrepreneurs leading high growth, early stage companies, to help successfully identify advisors, find clients and raise the capital they need to generate revenue and jobs more quickly.
Now, JumpStart is leveraging this expertise to help other regions develop high-impact economic development approaches. These plans--which are tailored to these communities' innovation assets and needs--accelerate the formation and growth of new and existing young high growth companies.
"The fact that IEDC recognized Northeast Ohio so strongly this year reflects our region's ever-increasing focus on collaboration and creativity in advancing economic competitiveness," said JumpStart CEO Ray Leach. "It's gratifying that IEDC is acknowledging that Northeast Ohio's innovative economic development programs, initiatives and best practices can have a positive impact both here in Greater Cleveland and in communities across the country."
Greater Cleveland Partnership (www.gcpartnership.com) announced yesterday that its Business Development Team received an IEDC Gold Excellence in Economic Development Award. The GCP team was honored as the top organization with three or more years of BRE activity for communities with populations of greater than 500,000.
The 2012 Excellence in Economic Development Awards were presented at IEDC's Annual Conference in Houston, Texas, which was attended by regional, national, and international leaders in economic development. The annual awards recognize the world's best economic development programs and partnerships, marketing materials, and the year's most influential leaders, and honor organizations and individuals for their efforts in creating positive change in urban, suburban and rural communities.
About the International Economic Development Council
The International Economic Development Council (IEDC) is the world's largest independent non-profit membership and research organization devoted exclusively to the field of economic development. IEDC helps economic development professionals create high-quality jobs, develop vibrant communities and improve the quality of life in their regions. Serving more than 4,400 members, IEDC provides a diverse range of services including conferences, professional development and certification, publications, research, advisory services, and legislative tracking. Visit www.iedconline.org.
About JumpStart, Inc.
JumpStart is a Cleveland-based nonprofit venture development organization accelerating the successes of diverse entrepreneurs, their companies and the ecosystems supporting them. In Northeast Ohio, JumpStart has provided business assistance to more than 400 entrepreneurial clients and made 99 investments in 65 companies. Through its JumpStart America initiative, JumpStart is partnering with nine regions across the country. To learn more, visit www.jumpstartinc.org or follow @JumpStartInc and @JSAmerica on Twitter.
NorTech is a regional nonprofit technology-based economic development organization serving 21 counties in Northeast Ohio. As a catalyst for growing Northeast Ohio's emerging technology industries, NorTech is leading efforts to develop regional innovation clusters that create jobs, attract capital and have a long-term, positive economic impact on the region. To learn more, visit: www.nortech.org
SOURCE JumpStart, Inc.