Startup meets BigCo - the Confluence of Innovation in Cincinnati S14 Ep9
When civic and business leaders have a meeting of the minds, amazing things can happen. Cincinnati is home to several major corporations and health care organizations. The demand is high for tech innovation. This midwestern city has created a unique approach to draw in the best talent. Cintrifuse is the confluence of innovation in Cincinnati.
Cintrifuse exists through public private partnership. Its purpose is threefold. It’s a startup accelerator and venture capital fund. It’s also the go to source for large companies seeking innovative solutions to their tech problems. CEO Wendy Lea comes to Cincinnati from Silicon Valley as an expert in digital innovation.
[shareable cite="Wendy Lea, CEO Cintrifuse"]To build a sustainable economy, you have to have supply and demand. We're unique in that we have two portfolios of supply for startups and we have an amazing set of large companies with strong appetite for technology innovation.[/shareable]
West Coast to Midwest
Arriving in the Cincinnati area, it surprised Wendy to find six major healthcare systems in the region. In addition, there are 140 major companies including Proctor & Gamble that call this area home. The local government sought economic growth. The need for cutting edge tech innovation and economic growth brought all these players together. The perspective from the various communities is distinct from what Wendy’s observed in Silicon Valley. These communities work closely together to tackle regional issues. Their collaborative effort formed Cintrifuse.
Startup versus BigCo
Contrary to what one might think, this is not a face off between startup and big companies. Large companies seek to draw the entrepreneurs, ideas and talent. They are the customers to the startups product or service offering.
Growing the Startup Community
Wendy has seen Cintrifuse’s portfolio of startups grow 40% year over year. What started with eleven startups on the Cintrifuse books has grown to 470 startups in the region. Some startups that come through Cintrifuse’s doors are located within the Cincinnati area. Others located elsewhere benefit from Cintrifuse venture capital funds. The benefits are mutual. The relationships developed allow Cintrifuse to connect startups with large companies seeking tech innovation.
To learn more about Cintrifuse, check out cintrifuse.com.
Check out The Innovators Network where you can listen to podcasts with Kym McNicholas on Innovation and Killer Innovations with Phil McKinney.
