Ohio has a message for women- and minority-led startups: Transfer to the Buckeye State and you’ve got an actual shot at getting funding.
Main the cost is Cleveland-based JumpStart, a nonprofit that invests in younger tech corporations.
“A part of our focus is to speed up alternative for ladies and minority entrepreneurs in Ohio,” stated JumpStart CEO Ray Leach. It now desires to increase that mission nationally.
JumpStart has launched a $10 million seed fund that may solely spend money on girls and minority-led tech startups.
The Focus Fund will spend money on about 20 firms in lower than three years — ideally younger firms with 5 staff or much less. JumpStart may also take fairness within the startups, though it will not disclose how a lot.
Every startup will get $500,000 in funding. The catch: Entrepreneurs should transfer their headquarters to Ohio to attain the cash.