A big day for startups in Cincy - Cincinnati.com

Cintrifuse's annual meeting took place Wednesday at at 1311 Vine St..(Photo: The Enquirer/Fatima Hussein)Buy Photo

OVER-THE-RHINE - Assembled in front of some of the country's top venture capitalists, the startup community in Cincinnati showcased its best and brightest, in hopes of garnering more outside investment into the area.

Both the Brandery and Cintrifuse held annual events, outlining what they have achieved over the past year.

Cintrifuse held its annual meeting Wednesday at its new space at 1311 Vine St., in front of a group of roughly 200 people, including investors in the accelerator, area business leaders and potential angel investors.

The organization connects the region's high-potential, venture-backable startups to advice, talent, funding, and customers.

"We want to get people, especially our big companies, invested in what we are doing here," said Wendy Lea, CEO of Cintrifuse, who will have completed one full year on the job next month.

Lea said as of current, Cintrifuse has a $58 million dollar fund, backed by 11 venture capital funds and other private organizations. Now, 71 percent of the fund is currently in use to help back a portion of the 155 startups that are clients to the organization.

"What we need right now are more investors, and part of this event has to do with inviting people to put money in the companies we have here."

"We have so many wealthy people in this community who are open to giving to the museum or the symphony – we want to figure out ways to get them to invest," she continued.

Attendees focused on the profitability of startups here.

Blair Garrou, managing director of Mercury Fund, a Houston-based startup venture capital fund, said his group has invested $75 million in total in Cincinnati startups for the past 11 years.

"We're feeling excited about Cincinnati and the startups we're seeing here today," Garrou said. "I see more investment in the future."

Earlier in the day, the Brandery held its sixth annual Demo Day, presenting the latest startup class' work to investors and area business leaders.

The 10 startup companies, including Oros, which developed hyper-insulated outerwear, and Wyzerr, which uses neuroscience to learn from mobile game usage for consumer brands.

Tony Alexander, general manager of the Brandery, said he thought the event was a success.

"I am confident each of the startups will find funding," he said, adding that the average investment in a startup that comes out of the Brandery runs from $500,000 to $1 million.

The Brandery, which operates at 1411 Vine St., works with select startup companies each year and provides them with mentoring, business development assistance, co-working space, access to potential business opportunities and in-kind services.

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