Following suit with cities like Atlanta and New Orleans, the state of Ohio has launched a new $10 million fund to provide seed level investment for women-and-minority-owned entrepreneurs.
Focus Fund, an effort of JumpStart and the State of Ohio, has committed to investing in roughly 20 companies in less than three years. Their main focus will be providing capital for early stage businesses with five employees or less.
The catch however is that the entrepreneur must relocate to Ohio to obtain the funding. While there is no requirement on length of time the business must stay, the state hopes that this helps to fuel innovation and business development within Ohio.
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