How Cintrifuse is jump starting technology start-ups
A Cincinnati business-led initiative is quietly giving life to an increasing number of technology start-up companies, improving their chances of becoming financially successful.
Cintrifuse, the regional effort to support and promote the innovation community, brings entrepreneurs and investors together. Beginning this summer it will house those companies, along with CincyTech and The Brandery, in a brand new space in Over-the-Rhine.
Wendy Lea is the CEO of Cintrifuse. She describes Cintrifuse as "an innovation hub with the center being entrepreneurs who have new ideas that they want to test out with customers and ultimately get funding."
Where Cintrifuse gets its money:
- Cincinnati companies and organizations invested in the $57 million fund of funds (P&G, Kroger, Western & Southern, Cincinnati Children's)
- City of Cincinnati -$4.5 million grant to fund new OTR campus
Cintrifuse says it has over 139 member startups in its ranks, has influenced over $30 million investment in Cincinnati startups, has relationships with over 30 corporations in town who want access to innovation, and invested in 5 venture capital firms across the United States increasing the reach of #StartupCincy.
Here are some of the new companies Cintrifuse has helped:
There are three components to Cintrifuse. They include The Fund of Funds, (allows exposure to funds outside the Greater Cincinnati region) the OTR building (a place to collect and collaborate) and Cintrifuse .
Lea says the next step is to encourage more talent to be discovered and nurtured in this region.