Rev1 2018 Startup Impact Report Highlights $2B Impact
The Rev1 Ventures 2018 Startup Impact Report, published today, reports that Columbus is truly becoming an important hub in the United States for innovation and startup growth.
In 2013, we asked, “What If?” What if Columbus could become a nationally recognized startup hub that:
- Connects our region’s assets;
- Funds and scales young companies;
- Connects founders with customers and investors, and
- Fosters inclusive innovation.
We set an aggressive goal of $2B in economic impact to the Columbus region from capital attracted, revenue generated, and exits from our clients by 2018. I’m pleased to tell you that we have exceeded that bold goal.
In 2018, we achieved numerous milestones including:
- Funded our 100th startup;
- Invested a record $13.1MM in 36 companies;
- Achieved 50% portfolio diversity for investments in companies with a woman or minority founder or inventor, and
- Our portfolio achieved $181.5MM in exits.
Since we set our strategy and formed strategic innovation funds with The Ohio State University, Nationwide Children’s Hospital, and OhioHealth, we’ve made more than 60 investments in 37 spinouts from these world-acclaimed research institutions. We deepened engagement with corporate partners, including Smucker, State Auto, and Safelite AutoGlass.
It is the collective power of these strategic partnerships, plus connections and collaboration with a broad group of community partners, corporations, cities, counties and the state, and especially Ohio Third Frontier, which allows us to accomplish so much.
We appreciate our partners’ support and the accomplishments of our region’s amazing innovators and entrepreneurs.
Rev1 remains committed to continuing to serve as a true public/private partnership, expanding capital, attracting diverse talent, and deepening corporate connections in our region.