Jumpstart’s Latest Fund Entices Women and Minority Led Startups With $500K In Funding
Jumpstart, the organization that’s been supporting startups across the country for over a decade, has launched a $10 million seed fund that will solely invest in women and minority led tech startups. There are two catches, you have to be a woman or minority led startup and you have to relocate to Ohio.
“Part of our focus is to accelerate opportunity for women and minority entrepreneurs in Ohio,” said JumpStart CEO Ray Leach said in a statement.
Ohio is a hotbed of start up activity from Cincinnati to Columbus to Cleveland, Ohio’s startup communities are all thriving. There’s access to capital, resources and a good network across the state. You may relocate your startup there and decide to stay forever.
“We do require them to move Ohio, but they don’t have to stay for any particular period of time,” said Leach. “Having said this, we believe once they come to Ohio they will not see any need to leave.” Statewide Ohio has invested over $500 million dollars to support startups and their entrepreneurial ecosystem.
The new fund, called the Focus Fund is being funded by Jumpstart and the state of Ohio. Jumpstart is actively looking for women led and minority led statups to hurry up and get working. They hope to make the first investment within 90 days.
There are efforts to spur women led and minority led startups all over the country. We’ve highlighted several in the Washington DC area that we met while we were at South By Southwest in Austin Texas. The Circlular Board is hosting the Circular Summit, an invite only women’s entrepreneurship conference in Houston later this month. St. Louis’ Prosper Women Entrepreneurs accelerator is actively taking applications.
Interested startups can find out more and apply for Focus Fund here.