UC opens 1819's Venture Lab to partner universities

“Working together, we can move ideas faster than what any of us could do individually,” says UC Chief Innovation Officer David J. Adams. “Universities are the strongest generators of startups. As a unified group, we can attract even more prosperity to this region and move at the speed that the knowledge economy demands. The 1819 Innovation Hub is the nexus that brings all of these efforts together.”

The seven-week Venture Lab program connects innovative startup founders with talent and entrepreneurial expertise, speeding up the process of getting ideas to market. Venture Lab will play a critical role in maximizing the strengths of each of the institution while also providing a swift track for future startups to thrive.

The Venture Lab generated a record 400% increase in startups spun out of UC intellectual property in its first year,  and 1,000% increase to date. More than a dozen Venture Lab graduate startups — and counting — have attracted funding. Since July 2019, Venture Lab has connected companies with more than $1.4 million funding from grants and UC investment. 

"As Wright State continues to grow its innovative culture, we are extremely excited to be able to partner with the University of Cincinnati’s pre-accelerator program. This program is available for faculty, staff and students, and can help these budding entrepreneurs better understand the potential opportunities for start-ups and future commercialization," said Wright State University President Susan Edwards. "Additionally, the access to Entrepreneurs-in-Residence (EIRs) from a number of backgrounds helps Wright State participants increase their networks for mentorship and funding. We look forward to supporting our entrepreneurs as they work to create business here in the Dayton area."

“Partnering has always been a key to success for the University of Dayton, especially with respect to innovation, which is part of Dayton’s DNA,” said University of Dayton President Eric F. Spina. “As such, we are excited to join our regional universities in building an entrepreneurial ecosystem to commercialize more of Ohio’s inventions by companies in Ohio.”