Economic development generally does not flourish in silos. In truth, keeping to your own “swimlane” can lead to missed opportunities and a disjointed approach to innovation, said JumpStart CEO Julie Jacono.
Starting next year, JumpStart will be swimming alongside regional economic development partners at the new MidTown Collaboration Center. Together with the Cleveland Foundation and MidTown Cleveland, JumpStart will move to the 95,000-square-foot facility at the corner of E. 66th Street and Euclid Avenue.
“We could have stayed in our lane, but each organization saw an opportunity to disrupt themselves for something bigger,” said Jacono. “We all made an investment to build out this space and create companies at a greater scale than we were previously.”
Participants, including JumpStart, envision a thriving innovation hub perfectly situated between downtown and University Circle. The $30 million center is located on the Health-Tech Corridor, a nexus for biomedical and technology firms seeking to leverage local healthcare institutions.
The building is owned by Cleveland Foundation, a community foundation with assets of $2.8 billion. While foundation officials are charged with assembling a tenant base, business development service JumpStart will provide programming and support services for occupants and the wider community.
A fresh dynamic will only strengthen the relationship JumpStart has with Cleveland Foundation and other area institutions, Jacono said. Additional partners set for co-location are Case Western Reserve University, University Hospitals, Hyland Software, and the Cleveland Institute of Art (CIA).
“It’s an exciting project to be a part of, and right in our wheelhouse of why we exist,” Jacono said. “The attraction of MidTown is that it’s an accessible neighborhood bringing all parts of the city together. The region itself is rich with anchor institutions and corporate assets, so let’s knit that together for a single system of economic development.”
This “forced collision” will move JumpStart across the street from its current Carnegie Avenue location. Situated near Cleveland Clinic, University Hospitals, six business incubators, and over 170 high-tech companies, the new center is poised to become a collaborative hub housing 200 direct full-time jobs.
Proponents believe the facility will better connect residents to innovation-centric resources, training, and technology. A CIA-led augmented reality studio, for example, will develop technology for streaming, gaming and animation.
The cutting-edge studio can be a catalyst similar to IBM’s quantum computer at Cleveland Clinic, said Jacono. Meanwhile, established partners like Case Western will co-locate aspects of their research and programming to the building.
“These types of massive assets will bring in lots of interested parties who want to get access and collaborate,” said Jacono. “We’ve seen evidence of organizations doing a great job in achieving their own missions, but stopping short of the radical collaboration needed to drive change. That’s when exciting things can happen.”
JumpStart will oversee a shared innovation space on the first floor upon completing its relocation in early 2025. Along with big-ticket job creators and health care innovators, JumpStart will be joined at the center by comfort food purveyor Pearl’s Kitchen and Black Frog Brewery, the region’s first Black-owned brew pub.
Aspiring entrepreneurs can access resources as well as advice on starting their businesses. Although shaking up the region’s innovation ecosystem may be painful at first, the partners understand that wholesale change is never easy, said Jacono.
“There will be a honeymoon period, then we’ll hit this pit of despair with people saying, ‘Why did I move here?’” she said. “Collaboration is exciting, but it’s also super hard. It may be uncomfortable, but that’s the nature of disruption. The region needs to think differently so we can breed different results.”
The relocation is part of JumpStart’s long-term vision to transform Cleveland into a national leader in entrepreneurship, technology and venture capital. To that end, the organization is intent on expanding its alliances in the future.
“This is a call for local companies and organizations to embrace collaboration,” Jacono said. “We’ll be knocking on doors no matter what.”
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