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Frequently Asked Questions What is the profile of CincyTech’s target companies?
What services does CincyTech provide?
How does CincyTech make the investment decision?
Does a company have to pay CincyTech for its services?
Do you help with the patent or trademark processes?
Can a company receive business development assistance without pursuing funding?
How long does the investing process take?
Does CincyTech focus on any particular types of businesses?
Does CincyTech provide grants?
Who owns CincyTech? If your question is not listed here, please
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us and we will answer your question personally! - What is the profile of CincyTech’s target companies?
CincyTech's target startups are early-stage, companies headquartered in or willing to move to Southwest Ohio (Brown, Butler, Clermont, Clinton, Hamilton, Highland, or Warren counties) that have strong potential to become high-growth businesses. CincyTech considers a company to be early stage if it has $0 to $5million in current revenues and fewer than 30 employees. High-growth means that the company can reach $30 to $50 million in revenues within five to seven years.
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- What services does CincyTech provide?
CincyTech provides management assistance, advising and consulting to startup companies. Those companies who meet the investment criteria may be eligible to receive an equity investment from CincyTech Seed Fund I. CincyTech will also help companies approach and obtain investments outside of the CincyTech Seed Fund I.
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- How does CincyTech make the investment decision?
We review all business plans that are submitted in our process and select those companies that have the capability to become an investable high-growth company. Based on a rigorous due diligence process, CincyTech’s investment committee will make the decision to either invest in the company or not.
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- Does a company have to pay CincyTech for its services?
As a general rule, no. However in some instances, a client that is not an investment candidate and requests a substantial amount of time from an Executive In Residence will be asked to compensate CincyTech in an amount to be negotiated on a company by company basis.
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- Do you help with the patent or trademark processes?
If your business successfully transitions through the ADVISE, ACCELERATE, and CAPITALIZE process and receives a financial investment from CincyTech, a portion of that investment may be used to further develop or secure intellectual property, commonly through patent protection or to register crucial trademarks or service marks.
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- Can a company receive business development assistance and not funding?
Yes, if your company is asked to present to CincyTech you will benefit from our intensive ADVISE process whereby a CincyTech Investment Associate works with you to refine your business plan and presentation to make it more "investor ready." This assistance can be extremely beneficial to companies whether or not they progress toward receiving an investment.
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- How long does the investing process take?
As with any investor you will approach, CincyTech’s process decision time frame can vary from one investment to the next. In general, from receipt of a potential company's Executive Summary to a decision to fund takes eight to ten weeks. After a decision has been made, due diligence can take an additional two to six months.
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- Does CincyTech focus on any particular types of businesses?
Yes. - Information Technology (IT)
- Biosciences and biotechnology
- Advanced Manufacturing and Materials
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- Does CincyTech provide grants?
Yes. CincyTech has a limited amount of funding available for Signature Area Imagining Grants. These grants provide funding to help developers of early stage technologies make the transition from the research institutions into the commercialization pipeline through new company formation. For more information, view the Imagining Grant section of the webstie.
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CincyTech is a partnership between the Cincinnati USA Regional Chamber, Cincinnati Children’s Hospital Medical Center, and the University of Cincinnati. It operates as an independent organization, however, with its own executive committee.
In 2006, these organizations and companies raised $7.5 million in matching capital required for CincyTech to apply for and be named the Southwest Ohio Entrepreneurial Signature Program operator:
* BIO/Start
* Butler County
* The Castellini Foundation
* The Cincinnati USA Regional Chamber
* Cincinnati Children’s Hospital Medical Center
* The City of Blue Ash
* The City of Mason
* Clermont County
* Fort Washington Investment Advisors
* Hamilton County Development Corporation
* Health Foundation of Greater Cincinnati
* National City Bank
* TechSolve
* Thompson Hine
* University of Cincinnati
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