Return on investment. It’s not just an economic measure. Ray Leach, SF ’02, CEO of JumpStart in Cleveland, Ohio, believes that social ROI is every bit as important—and as impactful as economic ROI in improving the quality of life of a region. A national thought leader at the intersections of public, private, and philanthropic partnerships, Leach strives to accelerate job creation and increase economic outcomes in neighborhoods, regions, and countries. Co-founder of four tech startups, he was also a founding member of the U.S. Commerce Department’s National Advisory Council on Innovation and Entrepreneurship (NACIE).
Leach founded JumpStart to work in tandem with government efforts to boost quality of life in Northeast Ohio through entrepreneurship. His diverse team of investors, marketing professionals, mentors, and advisors offers expertise to the founders of new or growing startups. CoverMyMeds, one of JumpStart’s portfolio companies, was just acquired for $1B+. With JumpStart’s nurturing, the company grew from three people to more than 500 in eight years.
Leach believes that to promote entrepreneurship, governments and nonprofits like JumpStart must first create an environment in which entrepreneurial ventures can thrive. JumpStart provides mentorship, education, and introductions to investors—but Leach says that to be truly effective, he and his team needed to get creative. “We have begun to focus on a broad variety of problems that prevent the community from thriving. We realized, for example, that a lot of startups and established companies need employees, but those companies often are located in industrial parks in the suburbs. The unskilled labor they would like to hire resides in urban centers. We need to find out how to bring the workers and the jobs together. In other words, we’re not just looking at job creation, but reducing unemployment.”