Cincinnati ranks No. 10 on M25’s best Midwest startup cities

Cincinnati ranks No. 10 on M25’s best Midwest startup cities

Cincinnati’s surging startup ecosystem can’t seem to help the Queen City surpass its regional peers.

For the fourth year, Cincinnati ranked No. 10 on Chicago venture capital firm M25’s power ranking of Midwest startup cities.

Cincinnati received an overall score of 26.1. That’s 23.2 points off from the list’s No. 1 city, Chicago, but only 2.9 points off from Columbus.

M25 compiles its rankings based on three factors: startup environment (active startups, startup formation growth, number of exits and large outcomes), access to resources (how much local startups have raised from VCs, the number of local investors, incubators/accelerators, universities, government support and access to quality talent) and business climate (cost of living, labor costs and business-tax friendliness). Overall, there are 25 variables weighed into each city’s score.

Health care startup HerMD recently closed the largest fundraise of the year thus far, bringing in $18 million. CincyTech closed the first $12.3 million of a $100 million fund. And in September 2022, Standard Bariatrics was acquired by global medtech company Teleflex in a deal worth $300 million, including earnouts.

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