The University of Cincinnati’s 1819 Innovation Hub has inked a new tenant that will help launch the region’s startups to new heights.
UC announced in a news release that Main Street Ventures has become the latest tenant at the 1819 Innovation Hub, the central nerve center of Cincinnati’s Innovation District.
Main Street Ventures moved into the building in January.
The move signals a collaboration between Main Street Ventures and UC to usher in new possibilities for growth, creativity and success for Cincinnati’s startup community.
Main Street Ventures – which awards grants to early-stage companies that are often too young for traditional venture capital or bank financing – will still maintain a presence in Over-the-Rhine, Executive Director Sean Parker told the Business Courier. However, it’s important for people to think of Main Street Ventures outside of the neighborhood, too.
“Moving into a space that is both physically and figuratively on the forefront of making connections and inspiring younger generations, this is a great fit for MSV as we continue raising money to support new and innovative business ideas,” Parker said in a release.
UC sees the collaboration as a way to further reshape the entrepreneurial landscape of Greater Cincinnati. Main Street Ventures aims to level the playing field of entrepreneurship. It has distributed more than $3.5 million in equity-free funding to more than 160 companies across the Greater Cincinnati region. More than 75% percent of those companies are led by underrepresented founders.
Ryan Hays, UC executive vice president and chief innovation and strategy officer, called Main Street Ventures a “trailblazer.”
“Their commitment to serving underrepresented entrepreneurs ranks second to none,” Hays said in the release. “We are honored and excited to welcome them to 1819 and the Cincinnati Innovation District."
Main Street Ventures joins a variety of local powerhouses at 1819, including Procter & Gamble, Kroger, Fifth Third Bank and Western & Southern. The latest addition to the hub – aside from Main Street Ventures – is engineering firm Heapy.
In its latest round of grants, announced in December 2023, Main Street awarded funding to 6 ‘N The Mornin’ and Brewed & Frothy Coffee, among others. More than $264,500 was distributed during that round.
In 2023, the group awarded more than $1.1 million in grants to 64 companies.
