A new nonprofit organization in Cincinnatti, Ohio, called the Brandery will serve as a business incubator to help entrepreneurs who are forming an LLC in the consumer marketing field.
The center was created by David Knox, the brand manager of global branded entertainment for Proctor & Gamble. It will give a $20,000 grant to five entrepreneurs in its inaugural class this fall. After three months of mentoring, all of the participants will have a chance to pitch their business concepts to angel investors and venture capitalists.
“The power of the Brandery is the collaboration between people and companies in our community,” Knox said. “Entrepreneurs will benefit from a wide range of talented people in consumer marketing here, as well as globally.”
All of the grants will come from CincyTech, a venture development company that focuses on investing in high-tech startup companies.
The city is also looking to use startup companies to help revitalize its failing downtown office district, the Cincinnati Enquirer reports. Officials told the paper that startups have kept away from the area because of perceived high rents, but the influx of new office space has served to drive down rent.
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