Celebrating Continued Economic and Community Impact
AKRON, OHIO (June 14, 2021) — Bounce Innovation Hub announces another year of positive growth and impact on the Greater Akron and northeast Ohio communities with new data included in the organization’s 2021 annual report.
The annual report is the first of its kind for the nonprofit organization. In May 2021, it published a cumulative community report that included its first three years, 2018- 2020.
Highlights from the 2021 report include:
In the community impact section, data showed Bounce served more than 600 members and hosted more than 11,000 visitors. The percentage of male to female entrepreneurs was equally 50 percent with women- and minority-owned businesses making up the majority of clients. The largest client demographic group at Bounce comprised Black entrepreneurs at almost 55 percent. Bounce’s Generator co-working space finished 2021 with 45 members.
The economic side of the report shows that by the end of the year, Bounce client companies accounted for 555 jobs (with 214 created during that time) and they generated more than $54 million in revenue, raised over $25 million in investments, and paid over $21 million in payroll.
Finally, Bounce’s programs included 185 participants (176 unique clients). The GROW program included more than 114 participants and tech programs saw 88 participants.
“I am extremely proud of what our team has accomplished as we continue to support entrepreneurship, fuel economic growth, promote innovation, and increase accessibility and opportunity for women and minority business owners,” said Doug Weintraub, Bounce CEO. “We have rebounded, and even thrived, from 2020 and are reaching annual numbers that, in some cases, are better than the last three years combined. Everything is up – number of clients, services, programs, members, jobs and revenue.”
Bounce Innovation Hub was founded in Jan. 2018 and serves northeast Ohio entrepreneurs, startups and small businesses. Located in downtown Akron, the nonprofit organization comprises more than 300,000 square feet of co-working, event, meeting and professional office space. Through entrepreneurial support and programs, Bounce serves a community of more than 555 clients and members located throughout Greater Akron and northeast Ohio.
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Contact: Jeanine Black, chief marketing officer, 330-701-5360, firstname.lastname@example.org