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Accelerators from Ohio to Invest $100 Mln into DLT Firms

Mon, 12/03/2018 - 15:40
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Yuri Molchan
Two accelerator companies in Ohio, US, reportedly intend to allocate over $100 mln for funding blockchain startups
Accelerators from Ohio to Invest $100 Mln into DLT Firms
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The news website reports that JumpStart, a nonprofit organization that financially supports startups, plans to provide $100 mln to DLT companies working in their early stages and focusing on cases to do with government or business. Six other commercial accelerators are going to join it.

Inflow of cash for blockchain firms

Among those other six companies that intend to partake in this funding of DLT companies is FlashStarts, based in the city of Cleveland in Ohio. Reportedly, it is going to offer around $6 mln to support young DLT companies at the stage of pre-seed investment.

These intentions were announced at a blockchain-dedicated conference in Ohio in a speech by Ray Leach, Jumpstart’s CEO.

Venture Capital Firms Rush into Blockchain, Investing Way More Than in 2017: Diar Study

He mentioned that other VC companies in Ohio are intending to provide a whole $200 mln for DLT startups within the coming few years. This news has not received official public confirmation, though.

Ohio on the blockchain adoption map

The aforementioned US state is turning into one of the biggest states supporting blockchain. Last week, Ohio became the first ever state that allows its citizens to pay taxes in Bitcoin. From now on, local companies and sellers can pay a number of taxes, starting with the tax on tobacco sales and finishing with the tax on public utilities, using virtual assets.

In the summer, local lawmakers decided to turn their state into a blockchain hub in the future.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at