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Cuyahoga County, JumpStart’s partnership to support entrepreneurs pays off

April 17, 2017 /

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Cuyahoga County’s partnership with JumpStart https://www.jumpstartinc.org/#1 , in which the venture development organization invests county money in startups and early stage businesses, has paid off.

A company JumpStart invested in, CoverMyMeds, recently sold to McKesson for over $1 billion. As a result, the county will receive back its entire $4.5 million investment, while remaining a part of two investment funds. That way the county will receive more returns as more companies succeed, the county said in a statement.

In the past, the county had given loans to high-risk start-up companies without any guarantee the loans would be paid off and without any ability to receive any bonus if a company succeeded.

By Karen Farkas, cleveland.com

Full Story: http://www.cleveland.com/cuyahoga-county/index.ssf/2017/04/cuyahoga_county_and_jumpstarts_partnership_to_support_entrepreneurs_pays_off.html

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