Two local entrepreneurs are building on the momentum of the city's recent state designation as the consumer marketing
Hub of Innovation and Opportunity with the launch of a new startup accelerator.
Dubbed The Brandery, it's the region's first startup company accelerator that will offer funding, mentoring and partnerships around local consumer marketing businesses. The Brandery's founders are Cincinnati digital marketing executive David Knox and serial entrepreneur J.B. Kropp, vice president of channel development at social media branding firm
Vitrue.
"The power of The Brandery is the collaboration between people and companies in our community," said Knox, brand manager of global branded entertainment at Procter & Gamble. "Entrepreneurs will benefit from a wide range of talented people in consumer marketing here as well as globally."
The Brandery is looking for tech-based, consumer businesses including Internet, media and entertainment companies. Companies can begin applying for the accelerator program immediately at
Brandery.org. Deadline for submissions for this first session is Aug. 11, 2010. Five companies will be selected for the first session which will begin in late August.
Each applicant selected for a 12-week program will receive a $20,000 grant in exchange for equity in the company. Each company also will receive brand identity guidance from leading agencies including LPK, Resource Interactive, Barefoot Proximity, Empower MediaMarketing and Ample.
CincyTech, a public-private venture development group, is funding those $20,000 grants through its Imagining Grant funds aimed at growing companies through the investment stage.
"Our hope is to create a whole new pipeline of startup companies that focus on consumer marketing, to complement our portfolio of companies in information technology, bioscience and advanced manufacturing," said CincyTech President Bob Coy. "Our mission is to grow jobs in thriving industries."
In addition to CincyTech and the five creative agencies, support is coming from the Haile/U.S. Bank Foundation and Xavier University’s Williams College of Business, which donated money for operating capital for The Brandery. The Brandery also is endorsed and supported by the Cincinnati USA Regional Chamber, Queen City Angels, Hamilton County Development Corp., and other local entrepreneurial organizations.
The launch of the Brandery follows Gov. Ted Strickland's July 12 announcement that the city would be the state's Hub of Innovation and Opportunity in Consumer Marketing. Along with that designation came a $250,000 state grant that will fund a hub director and an incubator that will assist startups and create new business and jobs in the consumer marketing industry.
Writer: Feoshia Henderson
Sources: CincyTech, David Knox, co-founder The Brandery
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