Good things are happening in Ohio, where “venture capital investors in three cities are taking a different approach by working together to boost the state’s startup appeal,” Axios reports.
The website notes that the Ohio Third Frontier Commission recently approved about $77 million to support tech startups statewide and has invested more than $2 billion since 2003. “A sizable portion of the latest round of funds,” Axios says, went to three of the state’s venture development funds: CincyTech in Cincinnati, JumpStart in Cleveland and Rev1 Ventures in Columbus.
Business leaders in the three cities, Axios says, “have been focused on using their legacy industries to their advantage and collaborating on deals, advising each other on portfolio companies and exchanging tips for attracting executives from the coasts.”
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Story excerpt provided by Crain’s Cleveland Business.
Written by Scott Suttell.
Originally published December 5, 2019.