News release excerpt provided by Business Wire.
The Cleveland region has recently witnessed the launch of a new group of seed stage funds totaling over $100 million. The focus of the Flashstarts accelerator program and the Cleveland200 fund is to equip startups for follow-on investment from this $100 million regional investment pool over the next 3 years.
This $100 million in newly available funding is the result of the Ohio Third Frontier Program’s recent commitment to seven Cleveland-area funds focused on seed-stage investment. This is the largest regional seed-stage investment pool in the world. The funds are to be deployed between 2017 and 2019. With an average of $500,000 per investment there will be about 200 seed stage companies that will receive funding. These 200 startups will receive the support and funding they need to build successful companies that will generate wealth, jobs, and transform the Cleveland Region.
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Originally published May 9, 2017.