“Cincinnati has 'skin in the game.'" — Cintrifuse CEO Pete Blackshaw
- Local FinTech growth
- Grab your headphones
- Grants for Black women-owned businesses
- Insight into the innovation ecosystem
- Lowering healthcare costs for SMBs
- Healthcare commercialization at NKU
- Cincy doctors develop a drug for aPAP
- Vogt Awards Demo Day — Oct. 15
- Know your City!
- Around the region
September 29, 2020
FinTech Frontier connects the dots for financial entrepreneurs
Image by David Mark from Pixabay
FinTech Frontier is hoping to connect the dots between Cincinnati’s large financial institutions and FinTech startups around the country. With the goal of providing a space for financial entrepreneurs to find the tools they need to build, the Cintrifuse-backed catalyst is holding events every other week through the end of October.
The first, held Sept. 17, covered machine learning and artificial intelligence in the financial industry. The panel, moderated by Brian Brackeen, General Partner at Lightship Capital, zoomed in from around the country. The panel consisted of: Chris Zock, Managing Director of Sandbox Insurtech Fund; Jennifer Choo, Partner and Head of Investments at Portag3; Roger Park, EY Americas Innovation Leader; and TX Zhuo, General Partner of Fika Ventures.
Among the topics discussed, the panel spent time on financial regulations, data, and AI. According to Park, it is crucial for startups to pay attention to regulations and regulators.
“Don’t ignore financial regulation and think it’s going to go away,” Park said, when it comes to financial technology. When a company starts growing and garners attention, you don’t want to find out what you’ve been doing is illegal.
Being a connector of big companies and startups, Cintrifuse is looking to help those in FinTech grow their fledgling businesses, while creating a symbiotic relationship. The panelists all chimed in on what startups can do to help fuel this relationship.
Choo explained that it’s important for startups to understand that they can learn something from a corporation. While corporations might move slowly, they have access to resources that are hard to come by at small businesses.
“Startups can help larger organizations by providing new solutions and opening up new distribution channels,” Zhuo said.
Cintrifuse CEO Pete Blackshaw opened and closed the panel. He noted that while Cincinnati has made large strides most venture capital is still being spent on the coasts, with the goal to get more money into the Midwest.
The next event for FinTech Frontier will be held on Oct. 1 and will cover Main Street Imagination. Midwest Activation will follow on Oct. 15. These events will culminate in a pitch competition with finalists competing on Oct. 29. There are $60,000 in prizes and, Blackshaw said, it shows that Cincinnati has “skin in the game.” The pitch competition is accepting applications through Oct. 15.
Cincinnati Future is happy to announce a new "edu-tainment" option from our parent publishers at Flyover Future: Flyover Future Presents: Innovators podcast.
Flyover Future, along with Cincinnati Future and other local publications keep up with hundreds of top innovators making huge impacts on our quality of life in the Midwest and beyond. We see amazing research being turned into world-changing technologies and Fortune 500 companies investing in the future like never before. And, we never cease to be amazed by the creativity we are privileged to see each and every day. Now, we want you to hear their stories directly.
Ben Reno-Weber, entrepreneur and director of the Future of Work Initiative in and Brian Eichenberger, producer and podcast extraordinaire will co-host season one.
You will hear from innovators pushing boundaries — whether that’s starting a company from scratch, a billion dollar company re-imagining its business, or a new way to leverage data. Speaking of data, in Season 1 we will be discussing how data and AI are driving innovation across Flyover Country. Join us and our sponsor, the Future of Work Initiative powered by Microsoft, for an exciting and insightful first season.
Episode 1: Judy Nichols, CEO of Breakpoint Technology
Predicting cardiac arrest, discovering why ER admissions increase for one town when it rains, and optimizing supply chain — thank you data revolution!
Frontline data worker turned CEO Judy Nichols of Breakpoint Technology is our guest in the inaugural episode of Flyover Future Presents: Innovators podcast. We talk with Judy about how harnessing data fundamentals and fostering a data culture through change management will transform our future.
You can listen this episodes on Apple Podcasts, Spotify, Google, or wherever else you get your podcasts.
Fifth Third provides grants to help businesses owned by women of color
The Fifth Third Foundation has announced that it will provide $1.2 million to launch a new program called Innovation meets Main Street: Boosting Black Women-Owned Businesses—and Cincinnati is one of seven markets benefiting from the program. Fifth Third is awarding grants to the Local Initiatives Support Corporation (LISC) and the Association of Enterprise Opportunity (AEO).
LISC received $1 million, which will go toward funding small businesses ($630,000) and investing in the Fearless Fund ($250,000), a VC firm that invests in businesses owned by women of color. The remaining funding will be used to deliver technical assistance.
AEO received $200,000, earmarked for providing business owners with access to Mainstreet RISE, which offers capital and services for underserved entrepreneurs.
Gain insight into the Cincinnati innovation ecosystem
Learn more about the people and organizations shaping the economic future of our city with Cincinnati Future's innovation radar. There are over 225 company profiles. Is your company one of them? Explore the innovation radar to find out.
Is data and AI on your radar? Here are a few local companies on our radar:
Share the Innovation Radar!
Lowering healthcare costs for SMBs
Mercy Health-Cincinnati and St. Elizabeth Healthcare—two of Cincy’s biggest health care providers—are joining forces to lower local healthcare costs for small to midsize businesses (SMBs). They have formed DirectHealth Connect, making it possible for SMBs to work with the systems directly instead of going through an insurance provider.
The new partnership was formed with the help of Boise-based Health2Business, which has established similar collaborations across the U.S.
Mercy Health-Cincinnati president Dave Fikse said the program has arrived as healthcare systems are trying to reduce costs incurred from the pandemic.
NKU launches healthcare commercialization program
Cincy doctors discover drug for rare lung disease
A team of researchers led by Cincinnati Children’s Hospital scientist Bruce Trapnell has developed a drug for a rare lung disease that has stymied researchers for decades. The disease, called autoimmune pulmonary alveolar proteinosis, or aPAP, strikes an estimated 2,000 to 8,000 people in the U.S. The disease causes the lungs to fill up with a surfactant that must be washed out in an invasive procedure done under general anesthesia.
Instead, doctors hope patients can inhale the new drug once daily to keep their lungs clear of the pulmonary waste. Scientists from 34 institutions in 18 countries participated in the clinical trial. After additional studies, the researchers will seek FDA approval.
Attend the virtual Vogt Awards Demo Day on Oct. 15
Register now for the virtual Vogt Awards Demo Day on Thursday, Oct. 15.
Meet the six 2020 early-stage companies selected to each receive a $25,000 grant, participation in a 10-week lean startup program, coaching from scalable startup CEOs, industry mentorship, and strategic introductions. With the announcement of these winners, the Community Foundation of Louisville is honored to have supported 84 companies with $3.5 million in Vogt Award grants throughout the program's 20-year history. You don’t want to miss this celebration, register here.
Have you checked your "Cincy-Q" recently?
- Our city is home to how many Fortune 500 companies?
- The historic Hilton Cincinnati Netherland Plaza is an example of what kind of architecture and design?
- Cincy’s abandoned subway system consists of how many miles of track and how many stations?
Click here to see answers.
We hope you enjoy these headlines from the latest issue of Flyover Future, chronicling innovation throughout the Midwest. If you'd like to subscribe to Flyover Future, click here.
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