Our Fund’s job creation strategy supports efforts that strengthen business development (retention, expansion and attraction) networks and outcomes; grow biosciences and other industry clusters; promote entrepreneurship networks and outcomes; and accelerate companies with high-growth potential. Underpinning this work is a desire to ensure our region’s entrepreneurs and good ideas have access to early-stage capital.
Capital is the mother’s milk of high-growth entrepreneurship. The successful high-growth ventures that have emerged in Northeast Ohio would not have grown here had there not been capital available here.
Over the last decade, a coordinated and sustained intervention in the marketplace by civic leaders, including philanthropy, dramatically increased the capital available to high-growth entrepreneurs in Northeast Ohio and that contributed to an increase in the number of successful high-growth ventures in our region. However, public policy changes and investment practices by key stakeholders, if they persist, will result in a meaningful decline in the availability of such capital. This decline will result in fewer high-growth ventures and the region’s economic transformation will slow.
Our Fund is looking at ways we might address this threat. Click here for more on the early-stage capital issue.