You fell for the click-bait in the title…excellent. I have your attention for the next five seconds. I’m going to throw out a number: $700 million. Still have your attention? Good. $700 million is my estimate of the cash Ohio-based startups are looking to find, but can’t find because there are not enough investors and not enough capital sloshing around in the system. So what? Here’s the so what: those are startups that would be creating jobs, inventing new stuff, taking new products to market and…wait for it…returning s#&t loads of cash to investors….
This year, I made the trek out to San Diego to attend my first Angel Capital Association (ACA) Summit. Here is a brief recap of some of the main themes of events, workshops, and keynotes I was able to attend.
First some background on ACA and the Angel Investor Class:
The ACA is an industry trade group of individual angel investors, angel funds, and family offices that help promote angel investing through education, best practices, certification, and public policy. They have been around for about 10 years and are one of the most influential groups around early stage and seed stage investing in startups.
One of the things that angels strive to do is to better their local economy by helping to create sustainable business by providing very early stage investment into companies. Through their backing of entrepreneurs in starting companies, angels are one of the primary sources for creating new job creation in the country….
Its official, the Ohio Third Frontier has about two years of money to hand out and that’s not good for organizations that have spend a vast majority of their efforts in building programs and hiring staff for the sole purpose of looking good for the Third Frontier RFPs. The incubator apocalypse, or ‘bator-ocalyspe, might be right around the corner for Ohio. But, is that really a bad thing to see the seven regional technology incubation hubs reduce their scope because of their funding getting cut by up to 50%?