There’s never been a better time to start a company in Ohio – especially a technology company. That’s the bottom line of a study done for VentureOhio, a group of venture capitalists. But VentureOhio chairman John McIlwraith of Allos Ventures of Cincinnati says there’s a problem with funding start-up entrepreneurs in Ohio.
“There’s about $520 million in need and about $260 million in capital available, and that capital is going to be deployed not just in Ohio but throughout the Midwest and potentially across the country," says McIlwraith.
Venture capitalists say a rising tide lifts all boats, and that some of the most successful companies in recent memory were start-ups just a few decades ago.
While the first ever VentureOhio report touts over $149 million was invested into 129 mostly high tech companies last year, other studies have shown that non-skilled and less educated workers in Ohio are still struggling in this economic recovery.