Main Street Ventures, a longtime booster of Cincinnati’s tech scene, is launching a new pitch competition and program this fall aimed exclusively at college students in the region.
Launch It: Cincy will open to undergraduate students in Cincinnati, Northern Kentucky and Greater Dayton regions starting Sept. 1 and comes with a prize package valued at about $28,000. The funds will cover housing, living expenses and more for winning teams to stay in Cincinnati during the summer of 2022 to build their business ideas.
Main Street Ventures said the program will offer an opportunity to bridge the gap between university-offered entrepreneurship programs and the StartupCincy ecosystem. The idea is to keep talent local.
Teams will be evaluated through an online application and live pitch. The prize package, besides housing, covers office space, curriculum, attorney and accounting hours, mentor meetings and more.
Supporting up-and-coming businesses will not only create more community in Cincinnati, Main Street Ventures said, but will allow young entrepreneurs to potentially make an impact beyond the city.
"This program is a catalyst to attract and retain more young talent in our region and help grow our entrepreneurial community,” Mark Lacker, professor in the Miami University Institute for Entrepreneurship, said in a release. “Students who have experienced StartupCincy are excited about working here after graduation, and this new program will engage more students in our region."
Applications are due Oct. 8. Finalists will be announced Oct. 15 with a pitch night Nov. 4. The program is scheduled to run May 24-Aug. 13, 2022.
Main Street Ventures, founded in 1999, supports emerging businesses, with a particular focus on women and minority entrepreneurs, through grants and other initiatives. The organization was a 2020 “Inno on Fire” nominee for social impact.
Since 2018, Main Street Ventures has distributed more than $1.35 million to local startups and organizations – 84% of those grants were awarded to underrepresented founders. The funding has created 260 jobs, and recipients have raised $6.1 million in follow-up funding.
