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Investment

Ohio startup accelerators and venture funds plan to invest over $100M in early-stage blockchain startups

JumpStart, an Ohio-based accelerator, along with six other venture funds, plans to invest over $100M into blockchain startups based in Ohio, according to CEO Ray Leach. Leach also said that additional investment teams plan to invest as much as $200M over the next three years for blockchain startups that take advantage of Ohio's "Opportunity Zones." These zones provide tax incentivizes for businesses that invest in poor neighborhoods.

Ohio has recently begun ramping up its support for blockchain and crypto businesses. Last week, the state announced that it would allow businesses to pay their taxes with bitcoin — becoming the first U.S. state to offer that option. Ohio's state treasurer, Josh Mandel, has also expressed his support for the industry, stating in an interview with The Block that he wants to show "the rest of the country that Ohio is the national leader in embracing blockchain." (Source: Cleveland.com)