Flashstarts, Inc., a Cleveland, OH-based startup accelerator, has launched Cleveland200, a $5m micro-venture fund focused on high-growth startups.
Led by CEO Charles Stack, and COO Shannon Lyons, Flashstarts is focused on disruptive ideas in healthcare IT, enterprise SaaS, data & analytics, IoT, AI & machine learning, FinTech and other software innovations. The accelerator program and the Cleveland200 fund aim to provide startups with follow-on investment from an over $100m regional investment pool over the next 3 years launched within the Cleveland region via a group of seven seed stage funds.
Ohio Third Frontier Program’s committed funds are to be deployed between 2017 and 2019. With an average of $500k per investment, there will be about 200 seed stage companies that will receive funding.
Startup applications are open now at www.cleveland200.com, and teams will be selected on a rolling basis over the next three years.
Flashstarts will initially invest $25k – $50k in each company in its program in exchange for 4-8% equity.
FinSMEs
09/05/2017