No one is sure precisely when #StartupCincy began, but there’s no denying we’ve been on a crescendo spreading the word and bringing entrepreneurs from around the globe to the Queen City. Thanks to the City of Cincinnati and thousands of dedicated entrepreneurs, investors, mentors and evangelists, our small community has developed into a vibrant, thriving startup ecosystem.
With the latest investment by the Cintrifuse Fund in Techstars Ventures we thought we’d look at 5 of #StartupCincy’s biggest momentum builders.
In November of 2014, EBTH raised $13MM in Series A funding from two venture capital firms, Greycroft Partners and Spark Capital – the largest Series A round for a consumer tech platform in Cincinnati’s history. This success injected millions into the local economy and gave #StartupCincy national notoriety. From the press announcement, here is a great snippet from Cincinnati City Councilmember PG Sittenfeld on the steps the City is taking to become an ecosystem for innovation.
2. Accelerators and Incubators
Cincinnati has some of the best resources for starting and launching your startup. With nine accelerators and five incubators, there is no shortage of outlets for entrepreneurs looking to make their nascent idea a reality.
3. Seed and Angel Investors
Where there’s startups there’s investors. And Cincinnati is no different. Organizations like CincyTech, the #1 startup funder for Midwest startups outside of Chicago, and Queen City Angels, the #2 angel investor group in the country, ensure great ideas get what they need – money.
4. Top-Notch Universities
Innovation and education go hand and hand. So when four top-tier universities get involved in the startup ecosystem, good things are bound to happen. Programs like INKUBATOR out of NKU and the Xavier Center for Innovation, give young entrepreneurs the tools and resources they need to develop and hone their skills.
5. The Cintrifuse Fund
The Cintrifuse Fund was established with simple goals – attract outside investors to the region, give its LPs a return on investment and establish a innovation pipeline for Cincinnati corporations (who are also investors in the Fund).
To accomplish these goals the Cintrifuse Fund has, to date, invested in six funds outside Cincinnati. In turn, each of the funds developed a regional engagement plan that brings top-tier VCs into the Cincinnati region as mentors, investors and advisers.
The most recent investment in Techstars Ventures is especially exciting. They have funded over 500 companies, 90% of which are still operating. Their extensive background and expertise as company builders will spark amazing activity in #StartupCincy.