Cincy Inno: Queen City Angels, Alloy Growth Lab, OhioX partner to launch OhioXcelerate
By Liz Engel
Two of the region’s top startup groups are helping launch a new statewide initiative that will pair entrepreneurs with top business mentors, and this summer three founders in Ohio will be selected to pitch their ideas for a chance at a more than $6,000 in prizes.
Alloy Growth Lab, a Norwood-based incubator and startup catalyst; Queen City Angels, a Cincinnati-based capital investment group; and OhioX, a Columbus-based tech-focused nonprofit membership group, launched OhioXcelerate, an event aimed at providing entrepreneurs with mentorship and subject matter expertise in various aspects of business, including fundraising, sales, marketing and customer discovery.
Organizers are billing it as a “game-changing” and “once-in-a-lifetime opportunity” for startups in Ohio.
OhioXcelerate’s first virtual event, scheduled for Wednesday, June 21 from 9 a.m.-12:30 p.m., will include 10-minute pitches from the participants, who will then rotate between three breakout rooms, each led by mentors and focused on a different aspect of business.
The winner will receive a services package valued at more than $6,000.
Applications – for both mentors and participants – are open until May 1.
“This program is an ‘all-hands-on-deck’ approach to connecting startups with value-add resources throughout Ohio – whether it be funders, customers, mentors or partners,” Antony Seppi, vice president of Alloy Growth Lab, said in a release.
"We believe with the right mentorship and expertise, these startups will be able to achieve their full potential and make a significant impact on the local economy.”
For the program’s first installment, three applicants will be selected to participate, including one from Alloy's “Morning Mentoring” program, its long-running free entrepreneurial coaching program that matches startups and young companies with entrepreneurs and business professionals.
Following the pitches, mentors fill out a scorecard and feedback form.
The winner will receive a services package to support their business endeavors, including:
$2,500 in-kind prize money from Ulmer Venture Law for legal advice on topics like fundraising, trademarks, compensation and more
A Cohatch co-working membership, valued at $3,240
A one-year membership to OhioX
A six-month membership to Alloy Growth Lab.
An Alloy spokesperson said OhioXcelerate is planned to be a regular event. The next session will be in fall 2023 or early 2024.
OhioXcelerate is specifically geared toward tech-enabled and innovation-driven startups with a focus on venture-fundable and scalable enterprises. Chris Berry, president and CEO of OhioX, encouraged all entrepreneurs to apply.
"We believe that OhioXcelerate will be a game-changer for startups in Ohio,” he said.
OhioX launched in December 2019 and the organization now includes more than 100 members spanning Fortune 50 companies, startups, tech-focused businesses, universities, research institutions and more.
OhioX hosts events – including a recent “Tech @ Night" in Cincinnati in January – works with businesses to recruit tech talent; and provides education, research, thought leadership and advocacy efforts, working with local, state and federal policymakers to promote industry in the state.
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