The startup ecosystem in Columbus is demanding national attention from entrepreneurs, investors, and professionals everywhere. Why?
Columbus is 40% less expensive than Chicago and 60% less expensive than New York, according to Venture Ohio. What’s more, Central Ohio startups are growing at an unusually quick pace. Earlier this year, the Kauffman Foundation discovered that, “More new businesses in Columbus grow to employ 50 or more people in their first 10 years than any major metropolitan area in the United States.”
It’s no wonder that Ohio’s capital city ranked 24th on the number of cities invested in during 2015, beating out Cincinnati, Cleveland and Indianapolis. Columbus also had the ninth highest metropolitan statistical area (MSA) year-over-year percent change in the number of companies receiving venture capital funding in 2015. A leading example of the city’s success is Drive Capital. The local private investment firm raised roughly $454MM in funding since inception in 2013, with a focus on financing and building Midwest startups.
Read the rest of the article from the Columbus Chamber of Commerce here.