Can entrepreneurs succeed in Cincinnati? The naysayers are quick to say we are not the East or West Coast and won’t be able to compete. Why not? Times are changing, and maybe NOT being on the East or West Coast is actually our competitive advantage. Consider. . .

Has anyone looked at cost of living on the East or West Coast lately? For most of us, moving to the coasts would require drastic downsizing of our houses to buy something several times the selling price of our Cincinnati homes. Not to mention the other high costs of labor and living.

Cincinnati is known for having a strong work ethic and a highly stable work force. Amylin Pharmaceuticals recently cited that as one of the reasons that they chose the Cincinnati region to expand their business. People who enjoy living in Cincinnati tend to stay and work hard.

Location, location, location. . . Cincinnati is within less than a day’s drive to many major industry hubs. And while we know airfares are high, we have the benefit of more direct domestic and international flights than all of the other airports in the tri-state area combined. In Cincinnati, we can do business anywhere we want.

Cincinnati is home to two major research institutions. These research institutions enter into industry collaborations and partnerships, provide expertise across a wide range of disciplines, train needed workforce, and serve as an important source of new innovation. Cutting edge technologies, such as robotics used by the space program, as well as the operating room, a Fingerpen for writer’s cramp, a thermal measurement device for predicting ulcers in the diabetic foot, the Integrated Watchdog Agent for Machine Diagnostics, technologies for treating obesity, fuel cell technology, the Solar House and the world’s longest nanotube are but a very few of the innovations currently under development that offer commercialization opportunities. In addition, there are many unique facilities, a few of which include the Live Well Collaborative, High Throughput Screening and Compound Library for Drug Discovery, PACE Project for Product and Process Visualization, Advanced Materials Characterization Center, and  Center for Intelligent Maintenance Systems. These and others support innovation and collaboration with industry.

What if you have an idea for a start-up company and you need assistance or additional resources? Cincinnati is still a good place to be as there are numerous resources to help you succeed. CincyTech’s Entrepreneur Signature Program provides services and funding for technology-based companies. In addition, places like the Hamilton County Business Center, BioStart and the Cincinnati Business Incubator have excellent track records for helping and housing start-up companies. New, early stage sources of funding are available, such as the CincyTech’s Seed Fund, the Southern Ohio Creates Companies Fund and Blue Chip Ventures. In addition, Queen City Angels and other established venture funds such as Triathlon Medical Ventures, Charter Life Sciences Ventures, Blue Chip, Fort Washington Partners, Riverside and others are actively looking for investment opportunities. There are programs in entrepreneurship at UC, Xavier, NKU and Miami, all available for those interested in pursuing a degree or needing advising.