|
Bright Ideas Identified: JumpStart Inc.
Announces Investment in ComSense
Technology, Inc.
Cleveland - CLEVELAND -- JumpStart Inc.,
Northeast Ohio's entrepreneurial
development and funding organization,
announced an investment in ComSense
Technology, Inc., (www.comsensetech.com)
a manufacturer of innovative high
temperature pressure sensors for harsh
environments that enable more precise
control of diesel, gasoline, and turbine
engines resulting in improved fuel
efficiency and reduced emissions. ComSense
has qualified for $325,000 in this round
of funding.
ShoreBank Enterprise has also committed
$250,000 to the organization. 'We are
excited about our investment in ComSense,'
said JumpStart CEO Ray Leach. 'We believe
that this company has great potential to
succeed and along the way create new jobs
in Northeast Ohio and leverage our
region's expertise in sensor
technologies.' 'We got interested in this
deal when we started to learn about the
technology,' said Barbara Nagy, Senior
Vice President, Enterprise Finance Funds,
ShoreBank Enterprise. 'The potential for
wealth creation, job creation across skill
levels, and environmental impact make this
an ideal company for us to invest in.'
'JumpStart is smart money because of the
ongoing experienced management support
they provide,' said Robert Chalfant,
President of ComSense Technology, Inc.
'I'm really looking forward to working
with Mozelle Jackson, who will be my
Executive-In-Residence. She's been a CEO
and knows about a lot of problems I could
run into - because she's already solved
them.'
JumpStart's previous investments include
Ayalogic, Inc., Day-Day, Ltd., Embrace Pet
Insurance, PreEmptive Solutions, Inc., and
Stanton Advanced Ceramics. JumpStart has
received approximately 300 applications
for funding since its founding in January
of 2004. The next deadline for submitting
business plans is July 1, 2005.
About ShoreBank Enterprise
ShoreBank Enterprise (www.shorebankenterprisegroup.org)
is a nonprofit community and economic
development organization with a mission of
investing in people and their communities
to create economic equity and a healthy
environment. It supports business start-up
and growth, job creation through access to
capital, workforce recruitment and
retention, and other business development
services as part of its comprehensive
approach.
About JumpStart Inc.
JumpStart (www.jumpstartinc.org)
accelerates the growth of early-stage
businesses and ideas into venture-ready
companies by delivering vital, focused
resources to entrepreneurs in Northeast
Ohio. JumpStart identifies and invests in
early-stage companies that have strong
potential in the marketplace, solid
prospects for high growth, and are likely
to qualify for later-stage funding. Beyond
investing, the JumpStart team provides a
continuum of business development services
to its client companies to help ensure
their success.
Founded by Case Western Reserve University
and NorTech, the JumpStart board,
executive management group, and staff
include experienced entrepreneurs,
investors, and representatives from each
public university in Northeast Ohio.
|