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As reported by local news outlet Cleveland.com, several investment fund firms based in Ohio, including local accelerator and venture fund JumpStart, are to be pooling their resources and investing USD 100 million into blockchain startups that give focus to utilizing the tech for business or government purposes.
According to JumpStart CEO Ray Leach, who made the announcement on Sunday, 2 December, there is to be an additional USD 200 million poured in over the next three years by the funding teams. Ohio is home to “Opportunity Zones”, areas with tax incentives for investors to encourage economic growth in underdeveloped and poorer neighborhoods, something of which the fund hopes to leverage over this course. In order to receive funding, a company must take advantage of one of these zones.
