Cincinnati Ecosystem - Revision history

Elizamartin at 17:37, 7 March 2017

2017-03-07T17:37:11Z

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Elizamartin at 17:25, 21 February 2017

2017-02-21T17:25:09Z

Elizamartin at 17:32, 14 February 2017

2017-02-14T17:32:17Z

Elizamartin at 17:27, 14 February 2017

2017-02-14T17:27:34Z

Elizamartin at 17:25, 14 February 2017

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Elizamartin at 17:25, 14 February 2017

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Elizamartin at 17:23, 14 February 2017

2017-02-14T17:23:32Z

Elizamartin at 17:45, 30 January 2017

2017-01-30T17:45:36Z

Elizamartin at 17:44, 30 January 2017

2017-01-30T17:44:54Z

Elizamartin: Created page with "{{BlogPost |Title=Cincinnati Ecosystem |Author=Eliza Martin |Series=Emerging Ecosystems |Content status=Draft }}"

2017-01-30T17:42:44Z

Created page with "{{BlogPost |Title=Cincinnati Ecosystem |Author=Eliza Martin |Series=Emerging Ecosystems |Content status=Draft }}"

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{{BlogPost
|Title=Cincinnati Ecosystem
|Author=Eliza Martin
|Series=Emerging Ecosystems
|Content status=Draft
}}

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               Custom Report: CincinnatiRound (Columnar) - Save As:
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-Unedited Blog Post:
+Blog Post (Being peer-edited by Tay):
 Introduction
-The ten Fortune 500 companies that call Cincinnati provide a unique advantage for the emerging ecosystem. They have the potential to ignite the ecosystem, providing a unique narrative to a city known not for high tech development, but for branding, marketing and design. In 2015 Cincinnati jumped from 35th place to 16th out of 40 metropolitan areas for biggest positive shifts in rank across entrepreneurship in the city, state, and national levels. Several areas of the ecosystem are on a good trajectory, but many lack sufficient capabilities and resources that are likely inhibiting Cincinnati’s ecosystem development.
+The ten Fortune 500 companies that call Cincinnati provide a unique advantage for the emerging ecosystem. They have the potential to ignite the ecosystem, providing a unique narrative to a city not known for high tech development, but for branding, marketing and design. Several areas of the ecosystem are on a good trajectory, but many lack sufficient capabilities and resources that are likely inhibiting Cincinnati’s ecosystem development.
 History of Entrepreneurship
-Resources in Cincinnati
+UpTech is a Greater-Cincinnati tech accelerator program for data-driven startups created in 2012. Startups go through a six-month accelerator program and receive up to $50,000 during the program. The third and newest accelerator in Cincinnati is Ocean, a three-year-old accelerator with a five-month program that provides mentorship, monetary support in the form of a $50,000 note, branding, and legal advice.
-The past few years have seen a remarkable increase in resources available for Cincinnati. Accelerators now span the tristate of Ohio, Kentucky, and Indiana. The Brandery, located in Cincinnati and founded in 2010, was inspired by the success of accelerators such as Capital Factory and TechStars. The Brandery offers a three-month program for seed stage companies that utilizes the already existing strengths of Cincinnati; branding, marketing, and design. Companies receive $50,000 in seed funding in return for 6% equity stake in the startup, office space, branding identity, legal support and more. The Brandery has been ranked a top ten accelerator in the nation.
+Seed stage investors such as CincyTech and Queen City Angels provide the ecosystem with capital. Since 2001, CincyTech’s mission has been to strengthen the regional economy through the creation and expansion of technology companies in Southwest Ohio. CincyTech is investing out of its fourth and largest fund, a $30.75 million seed stage fund bigger than its first three funds combined. Queen City Angels is the region’s longest running angel group and is currently investing out of its largest fund of $10 million.
-UpTech is a Greater-Cincinnati tech accelerator program for data-driven startups created in 2012. Startups go through a six-month accelerator program and receive up to $50,000 during the program. The third and newest accelerator in Cincinnati is Ocean, a three-year-old accelerator with a five-month program that provides mentorship, monetary support in the form of a $50,000 note, branding, and legal advice.
+ StartupCincy, a public-private partnership that provides seed stage funding for Cincinnati startups, maintains an exhaustive list of upcoming network, education, accelerator and developer event in the city. It’s beloved by Cincinnati accelerators, seed stage investors, and entrepreneurs in the city.
- Seed stage investors such as CincyTech and Queen City Angels provide the ecosystem with capital. CincyTech’s mission is to strengthen the regional economy through the creation and expansion of technology companies in Southwest Ohio. CincyTech is investing out of its fourth and largest fund, a $30.75 million seed stage fund bigger than its first three funds combined. Queen City Angels is the region’s longest running angel group and is currently investing out of its largest fund of $10 million.
+ CincyTech garnered considerable national attention after providing Lisnr, a company that has invented an ultrasonic technology for transmitting data through sound, with Stage A capital. Lisnr came to fruition aboard the 2012 StartupBus, a competition where participants launch a company in 72 hours on a bus headed to Austin, Texas for the South by Southwest Festival. Since Lisnr came to fruition, they have since received $10 million in Series B funding from Intel Capital and garnered accolades from CNBC’s Disruptor 50 list, Cannes Lions International Festival for Creativity, and Fast Company’s Innovation by Design Awards.
-CincyTech garnered considerable national attention after providing Lisnr, a company that has invented an ultrasonic technology for transmitting data through sound, with Stage A capital. Lisnr came to fruition aboard the 2012 StartupBus, a competition where participants launch a company in 72 hours on a bus headed to Austin, Texas for the South by Southwest Festival. Since Lisnr came to fruition, they have since received $10 million in Series B funding from Intel Capital and garnered accolades from CNBC’s Disruptor 50 list, Cannes Lions International Festival for Creativity, and Fast Company’s Innovation by Design Awards.  Not to be overlooked, Queen City Angels provided the initial stage funding for Assurex Health. Now ten years old, Assurex grew out of research at Cincinnati Children’s Hospital Medical Center and the Mayo Clinic. Its singular product is the GeneSight Test, which analyzes twelve genes that influence mental health and psychoactive drugs that treat a spectrum of mental-health disorders. Myriad Genetics purchased Assurex Health in April for $225 million with another $185 million to come when performance-met stipulations are met.   StartupCincy, a public-private partnership that provides seed stage funding for Cincinnati startups, maintains an exhaustive list of upcoming network, education, accelerator and developer event in the city. It’s beloved by Cincinnati accelerators, seed stage investors, and entrepreneurs in the city.
+Not to be overlooked, Queen City Angels provided the initial stage funding for Assurex Health. Now ten years old, Assurex grew out of research at Cincinnati Children’s Hospital Medical Center and the Mayo Clinic. Its singular product is the GeneSight Test, which analyzes twelve genes that influence mental health and psychoactive drugs that treat a spectrum of mental-health disorders. Myriad Genetics purchased Assurex Health in April 2016 for $225 million with another $185 million to come when performance-met stipulations are met.
-Venture Capital
+The largest barrier to Cincinnati’s emergence as an entrepreneurial ecosystem is the absence of venture capital entering the system. Two indicators of the health of an ecosystem are the number of first rounds and the amount of venture capital entering a system. The number of Cincinnati first rounds has been increasing. In 2012, there was an average of one first round per year. In 2014, Cincinnati experienced its larges number of first rounds ever, with nine. It appears the the ecosystem is leveling out at an average of five first rounds per year. It’s generally held that a stable ecosystem closes around thirty to thirty-five deals a year. Cincinnati falls far below this.  The second component of a healthy ecosystem is the VC entering the system. Despite an increase in first rounds, the seed, early stage, and later stage VC entering Cincinnati, current VC levels are not indicative of a successful ecosystem. Cincinnati VC peaked in 2002 at $343 million. The closest the ecosystem came to meeting 2002 VC levels was $235 million in 2014. The average VC entering the system is $139 million per year. Compared to VC levels of emerging ecosystems like Austin, Texas or Denver, Colorado, Cincinnati’s VC is weak and not supportive of an ecosystem.
-No data—most recent VC data is from 2014 and has a three-year rolling average of $55 million. Falls far behind Austin, who is the leader with a three-year rolling average of $1.33 billion.
+Untapped Potential
-Untapped Potential
+For an ecosystem that really only started in 2010 with the establishment of the Brandery, Cincinnati is beginning to establish some of the resources it will need in order to emerge as an entrepreneurial ecosystem. However, VC and the number of first rounds needs to increase to help grow the ecosystem.

@@ Line 89: / Line 89: @@
 Venture Capital
-No data—most recent VC data is from 2014 and has a three-year rolling average of $55 million. Falls far behind Austin, who is the leader with a three-year rolling average of $1.33 billion.   Untapped Potential
+No data—most recent VC data is from 2014 and has a three-year rolling average of $55 million. Falls far behind Austin, who is the leader with a three-year rolling average of $1.33 billion.
 Compared to Austin’s average number of 29.3 patents per 10,000 employees, Cincinnati has an average of 5.8. However, Cincinnati only sits behind Austin, Raleigh, Minneapolis and Detroit in average number of patents. According to _____, The University of Cincinnati has more invention disclosures per research dollar than MIT, but fewer patents due to the lack of resources According to ____, the University of Cincinnati has more invention disclosures per research dollar than MIT, but fewer patents due to lack of resources.   It’s generally held that a stable ecosystem closes around thirty to thirty-five deals a year. Cincinnati falls far below this. For an ecosystem that really only started in 2010 with the establishment of the Brandery, Cincinnati is beginning to establish some of the resources it will need in order to emerge as an entrepreneurial ecosystem.

← Older revision		Revision as of 17:27, 14 February 2017
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	Cincinnati VC Regular Data:		Cincinnati VC Regular Data:
		+
		+	==VC Stage Definitions==
		+	Regular VC: Seed, Early Stage, Later Stage
		+
		+	Other Venture Related: Acquisition, Acquisition for Expansion, Bridge Loan, Expansion
		+
		+	Exclude: LBO, Other, PIPE, Recap, Secondary Buyout, VC Partnership
		+

	==Session Details==		==Session Details==

@@ Line 19: / Line 19: @@
 Variables:
 {|  class="wikitable sortable" style="border: 1px solid darkgray; bgcolor: #f9f9f9"
-| '''Variable''' || '''Table'''
+| '''Variable''' |
 |-
 |Company Name

@@ Line 20: / Line 20: @@
 {|  class="wikitable sortable" style="border: 1px solid darkgray; bgcolor: #f9f9f9"
 | '''Variable''' || '''Table'''
- Company Name
+|-
- Company City
+|Company Name
- Company Street AddressLine 1
+|-
- Company State
+|Company City
- Company Founding Date
+|-
- Date Company Received Last Investment
+|Company Street AddressLine 1
- Total Known Amt Invested in Company 000
+|-
- Date Company Received First Investment
+|Company State
- Round Dates
+|-
- Company Stage Level 3 at each Round Date
+|Company Founding Date
- Round AmtDisclosed 000
+|-
- Round AmtEstimated 000
+|Date Company Received Last Investment
- Round Numbers
+|-
- Number of Investors eaRound
+|Total Known Amt Invested in Company 000
+|-

@@ Line 1: / Line 1: @@
-I. Introduction
+Cincinnati VC Regular Data:
-Cincinnati is in the unique position of being able to determine the narrative that will shape its entrepreneurial ecosystem. The ten Fortune 500 companies that call Cincinnati home have the potential to ignite the tech startup ecosystem should they choose.
+==Session Details==
-Known as one of the top branding, marketing and design hubs of the United States
+==List of Variables==
-II. Brief History of Entrepreneurship
+Unedited Blog Post:
-III. Resources in Cincinnati
+Introduction
-Startups in Silicon Valley or New York don’t receive the same support from large firms that early-stage companies in Cincinnati do
+The ten Fortune 500 companies that call Cincinnati provide a unique advantage for the emerging ecosystem. They have the potential to ignite the ecosystem, providing a unique narrative to a city known not for high tech development, but for branding, marketing and design. In 2015 Cincinnati jumped from 35th place to 16th out of 40 metropolitan areas for biggest positive shifts in rank across entrepreneurship in the city, state, and national levels. Several areas of the ecosystem are on a good trajectory, but many lack sufficient capabilities and resources that are likely inhibiting Cincinnati’s ecosystem development.
-Accelerators span the tristate OH-KY-IN MSA, Brandery, UpTech, Ocean (Oakley)
+History of Entrepreneurship
-Seed Stage Investors—CincyTech, Connetic Ventures (KY) and Queen City Angels
+The local and state governments have been the ignitors for the Cincinnati ecosystem. Grant programs have historically provided the Cincinnati Children’s Hospital Medical Center, University of Cincinnati, and the Cincinnati Regional Chamber with funding for high tech projects. Companies such as Kroger, P&G and Macy’s have long called Cincinnati home but have been largely nonexistent in the ecosystem.
-IV. Centrifuse
+The past few years have seen a remarkable increase in resources available for Cincinnati. Accelerators now span the tristate of Ohio, Kentucky, and Indiana. The Brandery, located in Cincinnati and founded in 2010, was inspired by the success of accelerators such as Capital Factory and TechStars. The Brandery offers a three-month program for seed stage companies that utilizes the already existing strengths of Cincinnati; branding, marketing, and design. Companies receive $50,000 in seed funding in return for 6% equity stake in the startup, office space, branding identity, legal support and more. The Brandery has been ranked a top ten accelerator in the nation.
-Pairs start-ups with potential customers and corporations to start-ups
+UpTech is a Greater-Cincinnati tech accelerator program for data-driven startups created in 2012. Startups go through a six-month accelerator program and receive up to $50,000 during the program. The third and newest accelerator in Cincinnati is Ocean, a three-year-old accelerator with a five-month program that provides mentorship, monetary support in the form of a $50,000 note, branding, and legal advice.
-Manages a $55 million VC fund of funds and built a 38,000 square foot campus and co-working space in Cincinnati where The Brandery is located
+ Seed stage investors such as CincyTech and Queen City Angels provide the ecosystem with capital. CincyTech’s mission is to strengthen the regional economy through the creation and expansion of technology companies in Southwest Ohio. CincyTech is investing out of its fourth and largest fund, a $30.75 million seed stage fund bigger than its first three funds combined. Queen City Angels is the region’s longest running angel group and is currently investing out of its largest fund of $10 million.
-Invests in Allos Ventures, Sigma Prime Venture, Upfront Ventures, Mercury Fund and more
+CincyTech garnered considerable national attention after providing Lisnr, a company that has invented an ultrasonic technology for transmitting data through sound, with Stage A capital. Lisnr came to fruition aboard the 2012 StartupBus, a competition where participants launch a company in 72 hours on a bus headed to Austin, Texas for the South by Southwest Festival. Since Lisnr came to fruition, they have since received $10 million in Series B funding from Intel Capital and garnered accolades from CNBC’s Disruptor 50 list, Cannes Lions International Festival for Creativity, and Fast Company’s Innovation by Design Awards.  Not to be overlooked, Queen City Angels provided the initial stage funding for Assurex Health. Now ten years old, Assurex grew out of research at Cincinnati Children’s Hospital Medical Center and the Mayo Clinic. Its singular product is the GeneSight Test, which analyzes twelve genes that influence mental health and psychoactive drugs that treat a spectrum of mental-health disorders. Myriad Genetics purchased Assurex Health in April for $225 million with another $185 million to come when performance-met stipulations are met.   StartupCincy, a public-private partnership that provides seed stage funding for Cincinnati startups, maintains an exhaustive list of upcoming network, education, accelerator and developer event in the city. It’s beloved by Cincinnati accelerators, seed stage investors, and entrepreneurs in the city.
-Big companies invest in Centrifuse—Duke Energy, American Financial Group, W&S Financial Group Distributors, Kroger, Castellini, the Greater Cincinnati Foundation, Cincinnati Children’s,
+One of Cincinnati’s most unique elements of its ecosystem is Cintrifuse. Established in 2012 with a goal to create a sustainable technology driven economy for the Cincinnati metropolitan area, Centrifuse manages a fund of funds. This fund of funds gives corporate investors access to over four-hundred startups and creates a network of venture capital funds that invest in Cincinnati startups. Centrifuse pairs start-ups with potential customers and corporations to start-ups. Big companies like Kroger, USBank, the Greater Cincinnati Foundation and Duke Energy invest in Centrifuse because they depend on Cintrifuse’s help to source innovation for their businesses and grow the region’s startup ecosystem. In turn, Cintrifuse invests in VC firms such as Allos Ventures, Mercury Fund, and Sigma Prime Ventures.  Cintrifuse also provides co-working space and entrepreneur education.
-Companies like P&G, Krogrer, and Western & Southern depend on Cintrifuse to help them source innovation for their businesses and grow the region’s startup ecosystem
+Venture Capital
-Goal is to create a sustainable tech-based economy for the Greater Cincinnati Region
+No data—most recent VC data is from 2014 and has a three-year rolling average of $55 million. Falls far behind Austin, who is the leader with a three-year rolling average of $1.33 billion.   Untapped Potential
+Compared to Austin’s average number of 29.3 patents per 10,000 employees, Cincinnati has an average of 5.8. However, Cincinnati only sits behind Austin, Raleigh, Minneapolis and Detroit in average number of patents. According to _____, The University of Cincinnati has more invention disclosures per research dollar than MIT, but fewer patents due to the lack of resources According to ____, the University of Cincinnati has more invention disclosures per research dollar than MIT, but fewer patents due to lack of resources.   It’s generally held that a stable ecosystem closes around thirty to thirty-five deals a year. Cincinnati falls far below this. For an ecosystem that really only started in 2010 with the establishment of the Brandery, Cincinnati is beginning to establish some of the resources it will need in order to emerge as an entrepreneurial ecosystem.

← Older revision		Revision as of 17:44, 30 January 2017
Line 1:		Line 1:
		+	I. Introduction
		+
		+	Cincinnati is in the unique position of being able to determine the narrative that will shape its entrepreneurial ecosystem. The ten Fortune 500 companies that call Cincinnati home have the potential to ignite the tech startup ecosystem should they choose.
		+
		+	Known as one of the top branding, marketing and design hubs of the United States
		+
		+	America’s Midwestern states are the fifth largest economy in the world
		+
		+	Cincinnati jumped from 35th place to 16th out of 40 metropolitan areas for biggest positive shifts in rank across entrepreneurship in the city, state, and national levels
		+
		+
		+	Brief History of Entrepreneurship
		+
		+
		+	Resources in Cincinnati
		+
		+	Startups in Silicon Valley or New York don’t receive the same support from large firms that early-stage companies in Cincinnati do
		+
		+	University of Cincinnati (more invention disclosures per research dollar than MIT, but fewer patents due to lack of resources)
		+
		+	Accelerators span the tristate OH-KY-IN MSA, Brandery, UpTech, Ocean (Oakley)
		+
		+	Seed Stage Investors—CincyTech, Connetic Ventures (KY) and Queen City Angels
		+
		+	StartupCincy—maintains an exhaustive list of upcoming network, education, accelerator, and develop events in the city
		+
		+
		+	Centrifuse
		+
		+	Pairs start-ups with potential customers and corporations to start-ups
		+
		+	Manages a $55 million VC fund of funds and built a 38,000 square foot campus and co-working space in Cincinnati where The Brandery is located
		+
		+
		+	Invests in Allos Ventures, Sigma Prime Venture, Upfront Ventures, Mercury Fund and more
		+
		+	Big companies invest in Centrifuse—Duke Energy, American Financial Group, W&S Financial Group Distributors, Kroger, Castellini, the Greater Cincinnati Foundation, Cincinnati Children’s,
		+
		+	University of Cincinnati, USBank
		+
		+	Companies like P&G, Krogrer, and Western & Southern depend on Cintrifuse to help them source innovation for their businesses and grow the region’s startup ecosystem
		+
		+	Goal is to create a sustainable tech-based economy for the Greater Cincinnati Region
		+
		+
		+	Venture Capital
		+
		+	Total US VC availability decreased by 9% in 2015, but VC availability in Ohio increased 22% to $296 million
		+
		+	SDC VC data under Projects-->Ecosystem-->CincinnatiData1
		+
		+	Barriers
		+
		+	Ecosystem orchestration
		+
		+
		+
		+
		+
	{{BlogPost		{{BlogPost
	\|Title=Cincinnati Ecosystem		\|Title=Cincinnati Ecosystem