Six Ohio VC Firms Will Invest $100M in Blockchain Startups

[PRIBO247]

* This weekend kicked off the Blockland Solutions
conference in Cleveland, Ohio.

* During the conference, JumpStart CEO Ray Leach
announced that him and five other companies will be
investing $100 million into early-stage blockchain
companies.

Announced yesterday, six Cleveland technology funds will be
investing $100 million in blockchain startups. These
accelerators aim to entice early-stage blockchain companies to
come to Ohio to develop blockchain solutions for business,
government, and more applications.

Leading the way are JumpStart and FlashStarts, both venture
capital accelerators based in Ohio. Informally announced on
Cleveland.com , this $100 million investment also comes with
$200 million in possible tax cuts for companies that partake in
Ohio’s “Opportunity Zones” tax exemptions. There will also be
$6 million available for blockchain companies by another local
venture fund, FlashStarts.

This bullish news was made public by JumpStart CEO Ray Leach
this weekend at the opening events of the Blockland Solutions
conference. This sold out four-day event hopes to position Ohio
as a trend-setter in the blockchain industry. The event featured
Joseph Lubin, co-founder of Ethereum, who gave a talk about
how blockchain can improve digital identities.

Ohio Lt. Governor Jon Husted also appeared at the conference
yesterday, and had some good things to say about blockchain
companies. He reviewed the InnovateOhio program, which is a
plan announced earlier this year that aims to modernize Ohio.
Through public and private sector partnerships, the InnovateOhio
program aims to use blockchain technology to create secure
digital records for things like car titles, insurance cards, license
plates, and more.

As Husted said in a speech, “We want to be the state in the
Midwest that everybody turns to.”
He continues to outline his approach for shaping Ohio:

"If you would like government to be more
involved in our lives, it’s a good thing for you
because if government works better they have
more confidence in it. If you’re one of those
people that thinks you want government less
in your life, that’s good too. It will be
disruptive in a way, in a constructive way,
that will help create efficiencies, [and] save
money."

Source : https://www.cryptoglobe.com