Entrepreneurship is in Cleveland’s DNA — from Garrett Morgan pioneering the first traffic light, to OverDrive creating the world’s largest digital service app for libraries.
Today, the entrepreneurial community is thriving and includes a vibrant network of mentorship, networking, education and other resources.
And investment in the region is strong, too. Cleveland-area startups raised $578 million in venture capital deals in 2022, nearly double the growth from 2021 – all while other venture capital investments across the companies were in decline.
In addition to all that, Greater Cleveland is the third largest region in the Midwest for biotech companies, with more than $3 billion invested in 700+ companies by 2022.
Medtech companies receiving noteworthy investments include Lazurite and Mediview. Other noteworthy tech companies that have grown from start-ups include: FIT Technologies, Pandata and Avantia.
As the home of NASA Glenn Research Center, Cleveland is a hub for aerospace and aviation, where tech jobs are key. This industry sees more than $3.2B of annual economic activity. ZIN Technologies, a minority-owned business sold to Voyager Space Holdings in 2023, is a standout example of the potential of entrepreneurs in the region. Established in 1957, today ZIN is a leader in advanced engineering services and product development solutions for NASA, the Department of Defense and private industry – with more than 250 regional employees.
Cleveland is wired for even more growth. The city maintains a 100-gigabit service that connects the Global Center for Health Innovation, Downtown Cleveland, the Health Tech Corridor and University Circle, enabling transmission speeds that are the fastest available in the world. Combined with low operational costs, and the State Tax Abatement for Data Centers, conditions are fertile for business.
Learn more about entrepreneurship resources and opportunities at JumpStart's website.