JumpStart Ventures closed out 2010 strong, adding to its portfolio and making second investments in two existing companies. A $250,000 investment in Cleveland-based MedCity Media, formerly MedCity News, will allow the online news service to expand its healthcare-specific content to Philadelphia and Raleigh/Durham. JumpStart Ventures president, Lynn-Ann Gries, says that MedCity's media model has created a unique niche in the industry.

JumpStart also announced an investment in another Cleveland company, Caralon Global. This startup is producing a thermal insulating material that because of its ultra-thin design can be used in very small spaces. Caralon Global received a loan in early 2010 from Cuyahoga County's North Coast Opportunities (NCO) Technology Fund, which allowed the company to create molds for the manufacturing process.

JumpStart also showed support for the continued growth of two of its existing portfolio companies: Tursiop Technologies and OnShift. Tursiop Technologies received a second investment of $150,000 for the development of its MRI coil devices. OnShift, which provides employee scheduling and communications technology, also received a $150,000 second investment from JumpStart. That was part of a total $2.3 million venture capital investment rounds in OnShift.

In 2010 alone, JumpStart invested in 15 companies, with a total financial offering of more than $3 million.


SOURCE: JumpStart Ventures
WRITER: Diane DiPiero