It is often a startup’s dream to be funded by a big venture capital firm. However, larger venture capital firms often seek to fund startups that are further along the development cycle with a product that has proven its value within the market. But what about startups that are still early in their search for product market fit?
That’s where micro venture capital firms and funding come in.
For seed stage startups, micro VC funding is a great option. Micro VCs are smaller investment firms that fund seed-stage emerging growth companies. According to Early Growth Financials, the fund is typically under $50M, and invests between $25K - $500K in startup companies, unlike traditional venture capital firms that usually fund between $1M and $5M in the later stages. Micro VCs typically invest less broadly and more specifically within an industry or geography.
Why are micro VC firms imperative to the startup journey? Here’s 5 ways…
If you’re a tech startup or small organization in northeast Ohio and you’re interested in partnering with a micro venture capital firm, we can assist you. Our scalable micro venture capital model is created to support high-growth companies leveraging our industry expertise, network, and investment team.
Contact us today at email@example.com to learn more about our investment program and how we can help grow your vision.
Ohio’s technology space is exponentially growing. While it doesn’t resemble tech metropolis’ like Silicon Valley or Seattle, Ohio’s tech space is thriving and has an adaptable base for tech companies large and small. The state is known for some of the best cybersecurity initiatives in the country, has the foundational tech resources, and a large industry of people who have invested their careers in this space.
While the big tech cities have created generational success for booming IT communities, the costs to open, house, and sustain business continues to increase, and small businesses and startups tend to look elsewhere to build. That’s where Ohio comes into play – known for its industrial roots, Ohio has architecture and resources for new businesses to thrive. Companies can operate at lower costs compared to other tech-centered locations due to its lower cost of living and housing.
Ohio’s largest cities help lead the way. Cleveland, once primarily an industrial economy, is home to significant platforms including the world-renowned Cleveland Clinic. Also, it’s the only state that has two cities, Columbus and Cincinnati, named in Forbes’ Top 10 Rising Cities for Startups. According to Jobs Ohio, Ohio is home to more than 25 incubators and accelerators, 15 venture capital funds, 15 angel funds, and provides mentorships from Fortune 500 and 1000 companies – all which made this recognition possible.
There are many examples of Ohio’s startup success. For example, after raising more than $32M, cloud-based human capital software-as-a-service company, Onshift, projects more than 5% market share, accelerated growth, and continued acquisitions in 2020. TOA Technologies is another Cleveland-OH (Beachwood) based startup driving growth for Northeast OH.TOA Technologies is a cloud-based field service solution that optimizes customer service for enterprises by coordinating and managing activities between dispatchers, mobile employees and their customers. Since opening in in 2003, TOA achieved $99.8 M in funding, and was later acquired by Oracle in 2014.
Ohio also has the skill set to support startups – the state’s pipeline of students and employees who’ve centered their careers around technology is vast and continues to grow. Ohio averages 6,200 IT graduates each year, and 295,000 Ohioans already work in the industry. Programs like Per Scholas, Black Tech Columbus and Level D&I focus on bringing diversity to tech, seeking out more Black people, women, and other minority groups to pursue technology careers.
With 24 Fortune 500 companies and 54 Fortune 1000 companies, it’s safe to say that big companies seek Ohio out to plant their roots. Google, IBM, Amazon Web Services, and Facebook are several companies that sought out the Midwestern state, making it a hub for big data.
Ohio’s governmental programs, grants and loans also make it an attractive state for the IT community. Through the Ohio Development Services Agency, Ohio Third Frontier seeks to help the state build its IT community and resources. Several grants and loans are available to businesses, like the Technology Validation and Start-up Fund, which provides direct capital funding, and the Pre-Seed/Seed Plus Fund Capitalization Program that contributes funding for capital, talent, and services. More information on Ohio Third Frontier can be found here.
Even with the current recession, Ohio still stands out as a state for growing technology businesses large and small. By combining resources and expertise, the state makes it easy for companies during the decision-making process and sets companies up for long-term success. Ohio makes it possible for new companies by leveling the playing field, providing everybody, everywhere a shot at building a company and the American Dream.
When you're looking to switch billing companies, there is a lot to consider. It may seem like any choice is better than your current one, but that doesn't mean you should pick just any company. MedPilot can not only help you increase patient engagement and payments, but they make switching easier.
Here are three ways that MedPilot makes switching easier for you and your company:
MedPilot can quickly transfer patient files and information from your current EHR to our platform. Once we have your data, we work to ensure it is protected, secure, and encrypted. We also use patient demographic data and payment history to personalize communication with each patient to provide a higher engagement.
Leaning a new platform can be confusing or even intimidating for some of your patients. MedPilot's payment platform is easy to use and access for patients. Since MedPilot is all web-based, patients do not need to download an app and access it from a phone or computer. In addition to this, our platform explains patient bills, showing them what they owe you, and telling their charges. We also offer patients further assistance through our support team and digital help center to focus your time on your practice and patient care.
MedPilot can get your practice up and running in less than two weeks. We can integrate with any EHR or PM you may already use, and not only is it a fast process, but we also won't charge you until your account is up and running, automating customers' payment process.
Disrupting your current patient revenue cycle shouldn't feel so daunting. And it doesn't have to be. To learn more about MedPilot's process and the benefits that come with our service, visit our site and request a demo.