Cincinnati startups have strong growth, annual revenue.

Cincinnati was one of eight “Heartland” cities surveyed by Powderkeg, which launched the U.S. Tech Census, a research initiative aimed at understanding the challenges and opportunities within emerging tech hubs between the coasts.

More than 100 entrepreneurs, investors, and tech professionals were surveyed, and among their findings, it was determined that diversity and inclusion are missing in Silicon Valley, which is one of the reasons tech hubs are popping up in other places. Employees like creating a company culture from the ground up.

All cities showed growth rates worthy of venture capital dollars, and the 33 Cincinnati Service as a startup (SaaS) startups surveyed show a median growth rate of 100 percent in annual revenue with a mean of 110 percent.

“We’re starting to see some executive boomerangs,” says Charlie Key, CEO of Cincinnati-based Losant. “These people are going out to the coasts, getting experience, and then coming back. There are people here that can create products and businesses that can compete anywhere in the world.”

To read more about the cities studied and the initiative, click here.

Read more articles by Soapbox Staff.

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