Ohio sees, cultivates venture capital growth

By Gary Hunt, CAE, OSCPA communication director

Falon_DonohueThe coasts get most of the attention – and most of the money – when it comes to venture capital. But there are an increasing number of opportunities in the Midwest, and a relatively new Ohio organization is helping investors make the most of them.

Falon Donohue, CEO of VentureOhio, said investors are discovering opportunities in the state thanks to things such as access to consumers and growth-minded business and community leaders.

“Technology changes our world that we live in so quickly, and what was happening on the coasts in the dot com era and up until very recently was a concentration of talent, of capital, of resources,” Donohue said. “But we’re starting to see those resources distributed more equally and a shift toward the importance of access to your customer.”

Donohue, who joined us on the latest episode of our podcast, The State of Business with the Ohio Society of CPAs, said as the impact of technology grows, every company in some ways becomes a technology company. That includes legacy Ohio businesses in sectors like insurance and agriculture.

“Entrepreneurs today are disrupting very difficult industries with old gatekeepers, and those industries are concentrated in places like Ohio,” Donohue said.

Listen to the rest of the episode now to learn what CPAs need to know about Ohio’s venture capital ecosystem.

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