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BioCrossroads, BioSTL, JumpStart, LaunchNY 2021 report on economic and fiscal impact

June 16, 2022
By: Conor Gowder

The venture development organizations BioCrossroads, BioSTL, JumpStart, and LaunchNY recently published their economic impact reports for 2021. These organizations primarily assist businesses from Indiana, Missouri, Ohio, and New York respectively.

BioCrossroads’ impact report highlights the success of its collaborative efforts that brought about 899 new patents, 61 new FDA approved products, and $434 million in venture capital funding of 37 companies. Since 2005, BioCrossroads’ Seed Fund program has invested in 32 Indiana-based start-ups which have gone on to raise approximately $600 million. The data and graphics used in this report were compiled by the Indiana Business Research Center and BioCrossroads.

BioSTL’s 2021 impact report celebrates its 20th anniversary with a record-breaking year, noting that BioSTL’s startup arm, BioGenerator, has funded over 400 startups to date, with more than $2.5 billion in follow-on capital raised since 2013, and garnered $87 million in NIH startup grants. BioSTL also reports it has engaged 16 countries and completed more than 34 international deals, generating approximately $166 million in revenue through GlobalSTL. BioSTL also invests in talent development and equitable workforce initiatives and in 2021 served 713 women, 845 people of color and 170 foreign-born entrepreneurs through its programs, along with coaching 779 researchers and scientists and raising $53 million for inclusion participant businesses.

JumpStart’s report details that in 2021 a total of $1.2 billion of combined economic output and 10,874 Ohio jobs were supported by JumpStart and its partners ($1.1 billion and 9,207 jobs by JumpStart alone). Breaking these numbers down further, JumpStart and its partners’ tech startup investments directly and indirectly supported approximately $1.1 billion of economic output and 8,959 jobs. JumpStart contracted with Silverlode Consulting to prepare the report and collected  data via JumpStart administered surveys of companies funded or served by JumpStart and/or its partners.

LaunchNY’s impact report celebrates its 10th anniversary, having mentored 1,369 startups, and provided $8.2 million in seed capital to 80 companies in Upstate New York. Of the startup founders LaunchNY has supported since its inception in October of 2012, 42 percent are women and/or Black, Indigenous, and people of color (BIPOC). These companies attracted co-investments and follow-on capital totaling over $1.1 billion, generated more than $214 million in revenue annually, and created 4,865 jobs. Additionally, LaunchNY’s “#InvestLocal” program has funded 80 companies since 2016, totaling $8.2 million in seed capital investments, going on to generate approximately $45 million in revenues and 446 jobs.

vdo, economic impact report