Economic Development

Ryan to Lead Venture Capitalists on Heartland Tour

YOUNGSTOWN, Ohio – U.S. Rep. Tim Ryan, D-13 Ohio, will lead a delegation of venture capitalists on a tour of heartland cities to learn what it will take to get more investment flowing to companies here, the congressman’s office announced today.

Kicking off Wednesday in Youngstown, the group will travel next to Akron, Detroit, Flint, Mich., and South Bend. Ind.

Joining Ryan on the tour will be U.S. Rep. Ro Khanna, D-17 Calif.

The group will meet with local business people, elected officials and incubators in each city with the goal of having venture capitalists learn about the startup activity and investment opportunities outside the coasts.

Together, these venture capitalist’s firms make more than $14 billion in investments, but have little experience investing in companies outside a few major cities.

Companies these investors have backed include SpaceX, Airbnb, Uber, Alibaba, Spotify, Facebook, Flexport, Zendesk, Twitter and Snap, according to Ryan’s office.

The tour’s first stop will be at the Youngstown Business Incubator’s Tech Block Building 5 Wednesday morning, followed by a news conference at the Butler Institute of American Art. The delegation will meet with elected officials and businesses during what is described as a “nonpartisan trip.”

After departing Youngstown, the delegation will travel to the Bounce Innovation Hub in Akron.

Published by The Business Journal, Youngstown, Ohio.