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JumpStart to Promote E-ship in 20 New Cities With $1 Million in Support From Knight Foundation

Wednesday, February 8, 2012   (0 Comments)
Posted by: Kristina Moy
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(via MarketWatch and PRNewswire)

CLEVELAND, Feb. 7, 2012 /PRNewswire via COMTEX/ -- A $1 million challenge grant announced today will help JumpStart Inc. ( ) bring a new model for engaging residents in fostering entrepreneurship to 20 additional cities.

The John S. and James L. Knight Foundation ( ) is supporting the JumpStart America Initiative ( ) as a way to involve new leaders in their community's economic future. Part of the Startup America Partnership ( ), the community-focused effort builds on regional public, private, philanthropic and institutional partnerships to spur the creation of new jobs by developing, identifying and supporting high-impact entrepreneurs.

A challenge grant, Knight's support kicks off an effort to raise an additional $14 million to implement the program over the next three years. Knight was an early supporter of the work, initially providing $500,000 in seed funding to help six regions in Minnesota, Indiana, Michigan and Ohio. The founding pilot project subsequently expanded to New York and Louisiana.

"JumpStart's approach is based on one simple truth: to succeed in creating an environment for innovation, we must deliberately focus on engaging the community in determining the best way forward," said Paula Ellis, Knight Foundation's vice president for strategic initiatives. "Its focus on empowering transformational change, while leveraging technological solutions like the online community IdeaCrossing ( ) demonstrates the type of innovative approaches we encourage."

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