Cintrifuse has selected the five startups that will participate in its first Venture Velocity cohort, a new program tailored specifically for Cincinnati-based founders.
The companies span a variety of industries from hard tech to insurtech to artificial intelligence. The class will meet for eight weeks starting July 16 at Over-the-Rhine’s Union Hall, and participants have access to up to $250,000 in equity investment, including an initial $100,000 in funding from Cintrifuse Capital, the recently rebranded investment arm of the startup support group.
The Cintrifuse team founded Venture Velocity earlier this year to fill a void in the ecosystem for early-stage capital and mentorship. The organization hopes to run the cohort multiple times per year following its inaugural class.
“This program represents a significant milestone for Cintrifuse and the Cincinnati startup ecosystem,” J.B. Kropp, CEO of Cintrifuse and managing director of Cintrifuse Capital, said in a news release. “By providing these founders with the tools, mentorship and capital to accelerate their growth, we are fostering the next generation of innovators and entrepreneurs who will drive our region's economic growth and technological advancement."
The cohort includes:
- Ellequate: Founder, Nicole Armstrong (CEO): Ellequate, formerly Queen City Certified, drives improvements in employee experience and organizational health with a data-driven platform and third-party certification for workplace equity, helping small and midsize employers attract and retain talent. Armstrong, a 2020 Business Courier “Forty Under 40” honoree, took Queen City Certified through Flywheel Social Enterprise’s ElevateEquity accelerator, a program focused on creating a more equitable economy in the Greater Cincinnati region, and has received funding from Miami University’s Social Impact Fund, a socially focused, seed-stage investment fund led by undergraduate students.
- Holm: Founder, Sharod Holmes (CEO): Holm.site is a new way for modern entrepreneurs and creative professionals to establish their online presence through a mobile-first website building platform. Holmes last year participated in Gener8tor Cincinnati’s investment accelerator.
- Obai: Founder, Kam Seabrook (CEO): Obai processes insurance claims after catastrophic storms with an approach that leverages technology.
- Lyceum AI: Founders: Glenn Platt (CEO), Russ Hamer: Lyceum AI is an in-class AI teaching assistant built by teachers for teachers. It engages students personally with teacher-informed insights and helps teachers manage their class time. Lyceum AI in April received a grant from the Ohio Third Frontier Commission to help commercialize its web-based platform.
- Airtrek Robotics: Founders: Chris Lee (CEO), Huzefa Dossaji (chief technical officer), Jon Taylor (chief operating officer): Airtrek Robotics makes airport ramp operations safer using autonomous robots. Airtrek Robotics graduated from the University of Cincinnati’s Venture Lab pre-accelerator in November 2023.
Venture Velocity borrows from and is considered a more condensed version of the Brandery, Kropp told me, a nationally ranked accelerator that, in its heyday, put Cincinnati on the map as a startup hub both nationally and beyond.
The cohort will cover a variety of topics, including sales, branding, hiring, target markets, building teams and more. The founders will walk away with an enhanced pitch deck; access to the Cintrifuse network; exposure to venture-backed founders, customers and professional services and more.
The main goal is to get founders investor ready.
Cintrifuse Capital will invest $100,000 in exchange for 6% equity upon acceptance and completion of the program. Cohort members will also be eligible for an additional $150,000 in matching investment funds upon completion. To unlock the latter, founders need to raise an equivalent amount of outside funding.
"We have big dreams for Ellequate, and joining the Venture Velocity program is an exciting milestone in our journey,” Armstrong said in a statement. “The guidance and expertise from the Cintrifuse team will equip us to confidently engage with funders and secure the investments we need. … I have no doubt this opportunity will help us achieve our mission of building workplaces that work for everyone."
Venture Velocity wraps Sept. 6.
