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Blockchain is still a hot topic, Ohio based technology funds prepare $100 million for startup incubation

Even though the bear market has been hitting Cryptocurrencies and ICOs lately, Blockchain seems to be a hot topic still between investment funds. Ohio based technology funds have agreed to make millions of dollars available for blockchain related startups as announced by JumpStart CEO recently.

JumpStart, a company that’s aim is to foster entrepreneurs and the tech ecosystem, has teamed up with six other funds from Ohio and agreed to invest $100 million into new technology related startups. The funds are mostly interested in blockchain related technology and its use in areas where immutability and transparency is crucial. Ray Leach, CEO of JumpStart, also hinted at an additional $200 million being prepared for investments over the course of the next 3 years.

Ohio us currently pushing local economic development with so called “Opportunity Zones”, these provide tax incentives for investors and startups. Lt. Governor-elect Jon Husted has been providing a longer insight into Ohio’s plans during the Blockland Solutions Conference, where he pointed out that the government is planning to become more tech-savvy and wants to digitize processes and create new job opportunities.

“If you would like government to be more involved in our lives, it’s a good thing for you because if government works better they have more confidence in it. If you’re one of those people that thinks you want government less in your life, that’s good too. It will be disruptive in a way, in a constructive way, that will help create efficiencies, save money,” John Husted stated in the original article, while adding: “We want to be the state in the Midwest that everybody turns to.”

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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