The University of Cincinnati's 1819 Innovation Hub will have a new tenant in the form of regionally focused startup investor CincyTech, the organization announced today.
The 2007-born entity has invested in almost 80 startups, like Genetesis and Abre, and announced in November 2017 that the cumulative regional impact of its portfolio has surpassed $1 billion.
“CincyTech invests in innovation at the earliest stage, for the purpose of building world-class technology growth companies right here in southwest Ohio. We seek out the region’s best opportunities, and we are always looking for what’s next,” said CincyTech CEO Mike Venerable in a statement. “UC is a world-class research institution where ideas and intellectual property abound. UC’s innovation agenda and the 1819 Innovation Hub align perfectly with our mission.”
Currently, CincyTech resides in Union Hall and has plans to complete the move in early 2019.
“Progress in our startup community is evident by its expanding geography and footprint. We started downtown, moved to Union Hall — the front door of StartupCincy — as [Over-the-Rhine] grew," Venerable said. "Union Hall helped to make OTR a destination for startup activity. We will free up space in Union Hall for new entrepreneurial energy as we move to what I expect to be the next high-growth node for innovation in the region.”
CincyTech isn't alone in its excitement about the development; University of Cincinnati leadership expressed their enthusiasm for the forthcoming partnership.
“For the last decade, CincyTech has helped to build a density of impactful, next generation technology and life science companies that are helping to transform the regional economy and culture," said University of Cincinnati Chief Innovation Officer David J. Adams. "CincyTech has been an anchor in the development of southwest Ohio’s entrepreneurial ecosystem. They will be an ideal partner in the 1819 Innovation Hub as we continue expansion of the innovation ecosystem."
This is a developing story. More information will be reported when it becomes available.
