Startup Impact

Rev1 Ventures | 2023 Impact Report

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The 2023 Startup Impact Report presents a summary of the continuing accomplishments of Central Ohio’s entrepreneurs, innovators, and investors. The companies we have supported over the last 10 years, surpassed $5B in total economic impact in Ohio, $3B in our region alone. Certainly, a milestone worth celebrating.

Our work is entirely focused on building and supporting a pipeline of new early-stage technology businesses led by intrepid entrepreneurs. Through our venture studio, we delivered the services that help these young companies achieve the milestones that enable them to start and scale up. Over 1,000 entrepreneurs have graduated from our Concept to Customer bootcamp, a three-day market validation program.

Success for these entrepreneurs also requires access to a local continuum of capital. An important measure of our performance is the number of companies at each stage that raise capital. Although venture dollars and deals were down overall worldwide, Rev1 and our strategic partners continued to advance the innovation economy of Ohio by investing in the future. Of the $390MM raised by the entrepreneurs we supported last year, 34 companies raised pre-seed capital: 16 raised seed capital, and 19 recorded early-stage capital.

We appreciate the ever-present support of the Columbus region at large. Many of these public and private sector organizations are represented in this report. Of special note is the launch of Rev1’s $30MM Catalyst Fund III, our largest fund to date and the third life sciences fund with The Ohio State University (OSU) and Nationwide Children’s Hospital (NCH), a cornerstone of our 10-year strategy to grow Ohio’s life science industry by spinning out technology from these world-class research institutions.

We are excited to extend a special welcome to our new chair, Sue Zazon, President, Central Ohio Region, Huntington Bank and look forward to a great year to come.




2023 Startup Impact


Revenue | Capital | Exits


All Time Impact from 2013 – 2023


Client Revenue Generated


Client Capital Attracted


Companies Funded


Jobs Created & Retained


Avg. Salary among Clients


Client Satisfaction Score
(70+ is considered excellent)

*2023 Startup Impact metric includes capital attracted and exits from all Rev1 funds.


We help startups pressure test their customers and market before they build a business, fostering a higher likelihood of success. 


Companies Supported Through Studio Services
Entrepreneur Completed our early Customer Validation Bootcamp
New Companies Welcomed to Our Studio

Bringing the next discovery, cure, and groundbreaking healthcare technologies to market. 

Spinouts Supported 
State/Federal Grants Awarded
Revenue Generated
An advanced materials company creating carbon nanoparticles to overcome energy challenges in batteries and fuel cells.
Learn more about pH Matter, LLC
A device and IT platform to deliver therapeutic sounds to neonates to promote optimal development of cognition and language skills.
Learn more about Thrive Neuromedical
Agile Ultrasonics has invented a new, efficient approach to laminating composite materials.
Learn more about Agile Ultrasonics
Invirsa's lead compound, INV-102, combats viral conjunctivitis (viral pinkeye) by enhancing the body's own ability to fight the disease.
Learn more about Invirsa
Developing a therapy and vaccine to treat and prevent pneumonia.
Learn more about Clarametyx Biosciences

We Invested $6.4MM in 17 Companies 

Some of our 2023 investments are highlighted below, see our full portfolio here.

Armatus Bio, based in Columbus Ohio, is an emerging biotechnology company.
Learn more about Armatus Bio
Developing precision-based therapeutics for stroke.
Learn more about Basking Biosciences
Make better business decisions with the power of AI
Learn more about Conversight
SureImpact, a customizable, cloud-based software platform that allows mission-driven organizations to easily manage their unique social impact.
Learn more about SureImpact
Developing a novel soft bifocal contact lens.
Learn more about Lentechs
Introducing the next generation mobility safety starting with Driver™, the app that turns your phone into an AI-powered dash cam.
Learn more about Driver
A brand new 503B outsourcing facility. Bringing Safety, Transparency, Availability and Quality to compounded medications.
Learn more about STAQ Pharma
Industry Classification is Critical
Learn more about Relativity6
Engineering the future of precision genetic medicines today.
Learn more about Neucore Bio

Supporting Entrepreneur Growth 

We’re proud to have supported a variety of startups, including enterprise SaaS technology creating efficiencies in insurance and real estate, advanced technologies in green energy and life science disruptors with novel therapeutics for genetic diseases with no current cure.


Companies Raised $1MM+


Companies Raised $250K+ 


Follow-on and Co-investors

$30MM to Further Life Sciences Growth



Catalyst III Fund, our boldest fund yet allocates $30 million for technologies and innovations from The Ohio State University (OSU) and Nationwide Children’s Hospital (NCH), shining a spotlight on the vibrant, cutting-edge opportunities in the territories of gene and cell therapy, neuroscience, biofilms, ocular health, and a range of therapeutic technologies.


The Power of Innovation and Impact

We are committed to fostering creativity, collaboration and drive change through opportunities and new solutions for the current and ever-changing market. Our partnerships with the right band of innovation leaders and providers are the catalyst for ideas turning into reality to help entrepreneurs at every stage.


  • 149 Trained Corporate Innovators
  • 1099 Assessed Technologies
  • 228 Startups Connected to Corporate Innovators
  • 19 Pilots & Contracts
The Ohio State University
Learn more about The Ohio State University

We continue to foster equitable access to and utilization of the resources for starting and growing a tech-based business.

Client Diversity
Diversity of Funded Companies
Companies Supported through Aventi Business Accelerator

Our Innovation Internship Program continued to connect young talent to startups. 

  • 125 Interns Placed
  • 56% Diversity
  • 28 Startups
  • 17 Universities

Read More



Our innovation center is proving to be the best place in Central Ohio for founders, start a company and accelerate growth. 


Learn More


Resident Companies

51% diversity among Resident Leadership


Resident Employees


Capital Raised by Resident

2023 Inflows

2023 Outflows

2023 Investments

Our work takes a community-wide effort.

We are proud to have the support of over 60 partners in economic development, strategic innovation, donated and discounted services, and venture fund investors including critical support from the Ohio Third Frontier.

Thank you to all of our partners for your continued support, we couldn’t do it without you.

Learn More About Our Partners

Expanding Capacity Through Vetted Service Providers

  • $555K Discounted Vetted Services Delivered
  • 100 Service Engagements
  • 75 Startups Supported


Addison-McHenry Group LLC
Learn more about Addison-McHenry Group LLC

Board of Directors

Stephanie Fortener
SaaS Capital

Managing Director

Kim Garland
State Auto Labs

SVP Commercial Lines and Managing Director

David Meuse
Stonehenge Partners

Rev1 Chairman Emeritus

Mike Papadakis
The Ohio State University

SVP and Chief Financial Officer

Tim Robinson
Nationwide Children's Hospital

Chief Executive Officer

Andy Rose
Worthington Industries


Kim Zavislak

Columbus Office Managing Partner

Sue Zazon
Huntington Bank

President, Central Ohio Region

Tom Walker
Rev1 Ventures

President & Chief Executive Officer

Shaun Young

SVP Operations

Matthew Orr
The Crane Group

Vice President

Terrence O’Donnell
Dickinson Wright

Member and Government Relations Group Chair

David Dennis
Cardinal Health

Vice President of Strategy and Business Development