Entrepreneurial Programs : Buzz

Cincinnati-based enterprise social network startup Batterii, which describes itself as a co-creation software platform, has closed a $2.5 million seed round let by public-private seed stage investor CincyTech – which contributed $500,000 to the round. Other investors include Batterii CEO Kevin C. Cummins, Los Angeles-based investor Ken Salkin, and undisclosed individuals.

As well as offering enterprise collaboration tools such as real-time chat, activity tracking, tagging search and so on — it describes one of its software tools as “like Pinterest with a purpose”  – Batterii also offers in-person brainstorming sessions as a service to clients.

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Euclid Avenue was the spark in Cleveland, as a bus rapid-transit system ignited development along the important Downtown artery once lined with so many mansions it was known as Millionaires’ Row.

The rebirth of downtown Cincinnati started with Fountain Square and in Over-the-Rhine, a historic neighborhood filled with stately but crumbling homes.

In Columbus, the Arena District rose on the blighted site of a long-closed prison. This started a wave of development that has spread south, to the river and the land formerly occupied by the failed City Center mall.

Now, after many years and a combined investment of about $10 billion, Ohio’s three largest cities are enjoying downtown booms that have added residents, jobs, economic impact and vibrancy.

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For more information on the TechColumbus innovation awards, click here.

Two studies released Thursday show the Youngstown Business Incubator has a far-reaching economic impact, which it believes will bolster an already strong reputation and attract more startup companies.

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Those who relocated from the Mahoning Valley years ago and returned for the holidays might not recognize the city they left.

Today Youngstown is in the midst of an economic renaissance, officials boast, and the Youngstown Business Incubator, Youngstown State University and the Oh Wow! Roger and Gloria Jones Children’s Center for Science and Technology demonstrate why.

“We want to introduce people who have left Youngstown to the New Youngstown, the new high-tech Youngstown," said Mike Hripko, director of technology-based economic development at the YSU College of Science, Technology, Engineering and Mathematics, or STEM, as he welcomed visitors to the YBI.

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Innovation and entrepreneurship are the engines of economic growth. For decades now, cities and communities across the United States have tried to infuse themselves with those two properties by emulating Silicon Valley, a never-ending quest to become the next Silicon Somewhere.

Brad Feld’s terrific new book, Startup Communities, takes us inside the real ecologies of innovation and entrepreneurship. Feld, co-founder of venture capital firm Foundry Group, serves on the boards of numerous high-tech companies. He recently chatted with Cities about his new book.

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A national study on high-tech jobs released Thursday shows that Ohio is quickly establishing itself as a hub of high-tech job activity. The Buckeye State is home to three of the top 25 cities for tech job growth -- more than any other state.

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This fall, entrepreneurs and investors from all over the country gathered in downtown Cleveland for the National Association of Seed and Venture Funds (NASVF) annual conference. During a "fireside chat," AOL founder and Startup America Chair Steve Case touched on his belief that a "broader entrepreneurial ecosystem" with many hubs of innovation is possible. "Many years ago, you couldn't launch a startup in some areas, and now you can," he said. "Costs are down, and the ability to get talent is up."

The Midwest is working hard to make Case's vision a reality sooner rather than later.

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Twelve years ago, the Queen City Angels were five guys who would meet at restaurants to talk about investing in local startups and who, group chairman Tony Shipley jokes, hadn’t gotten the memo that the dot-com bubble was about to burst.

Now three funds and 54 diverse companies later, the validation-stage and seed-stage investing group – the first of its kind in Ohio – has survived the dot-com bust and two recessions. Its 49 members have invested $33 million of their own money into regional startups, which has been leveraged into additional capital in excess of $200 million from other investors, and created 254 jobs.

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Information technology is perhaps one of the most under appreciated fields in the Dayton region, at least by the public.

IT companies in the Dayton region seem to be booming, as seen by increases in salaries, hiring and new investments.

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A new report from JobsOhio shows the state’s economic development efforts continue to help spur job creation and capital investments by businesses.

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"Boulder wasn’t the result of a government effort," writes columnist Vivek Wadhwa. "Rather, it grew organically and resulted from the efforts of a handful of entrepreneurs who got together and decided to foster entrepreneurship in the region."

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