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The nonprofit business development organization on Thursday launched a web site aimed at connecting entrepreneurs with investors and anyone else who can help get a business running.
The site, www.ideacrossing.org, works like a dating site, according to Clyde Miles, executive vice president of Optiem, the Cleveland marketing company that created it.
IdeaCrossing allows entrepreneurs and investors to create profiles for free. The site then will match them based on compatibility.
Whereas a dating site might pair people based on personalities, IdeaCrossing makes matches based on businesses’ and investors’ needs. For instance, entrepreneurs in the medical device field would be paired with investors who focus in the area. "It’s kind of like a Match.com for businesses, if you think about it,” Mr. Miles said.
Most of the site was ready when it launched at 5 p.m., but it will be more useful once members of the business community start building profiles, said JumpStart chief marketing officer Thom Ruhe, who unveiled the site at the organization’s annual meeting Thursday night.
“Real value from IdeaCrossing will come from additional participation,” Mr. Ruhe told the crowd.
Eventually, JumpStart would like to see the site become popular beyond Northeast Ohio, though it was inspired by local businesses.
The concept for IdeaCrossing was born in mid-2004, just after JumpStart began receiving applications from entrepreneurs requesting money for their early-stage businesses.
JumpStart officials quickly learned they didn’t have the budget to support every good business plan, according to Tiffan Clark, JumpStart marketing director.
“For every great idea that we did fund, there were 10 great ideas we had to turn away,” Ms. Clark said.
At the same time, investors showed interest in the companies JumpStart turned down.
“There was a need to be filled,” Ms. Clark said.
JumpStart aims to raise $750,000 to pay for IdeaCrossing’s creation and to maintain and market the site for three years.
JumpStart so far has received financing commitments for IdeaCrossing from the Akron-based GAR Foundation and Charter One Bank plus money from its own budget, Mr. Ruhe said. He declined to say how much has been raised so far.
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