May 15, 2018
This morning announced the acquisition of , a (privately held) Cincinnati-based strategy and innovation group with a portfolio of early-stage investments and interests spanning high-tech sectors. The acquisition includes all of the interests, IP, and assets.
With the acquisition, Venture Smarter will launch , adding a new business unit to the growing company that focuses on ‘working together to build smart cities, regions, and industries.’ Labs will work with businesses, investors, agencies, and universities to enable impact and innovation leveraging advanced technologies.
Venture Smarter’s investment in innovation will further accelerate its pursuits to develop the smart city market. It plans to leverage partnerships in government, industry, and research to do that in a unique way.
Rhonda Binda, CGO of Venture Smarter said, “Venture Smarter helps leaders across agencies and sectors research, develop, fund, and deploy smart strategies and technologies to help create better places to live, work, and visit. This acquisition will help us better support innovators working on projects that share that vision.”
Venture Smarter CEO Zack Huhn said, “'Labs' will focus on innovation projects and commercialization. Labs will invest time, dollars, and resources to help innovative companies in the ‘smart technology space’ go to market, handle government and public relations, and navigate growth and funding hurdles.”
Venture Smarter CSO Mitchell Kominsky elaborated, “‘Labs’ will work with early stage companies as a Chief Strategy Officer, and with investors and funds as a Venture Partner. Labs’ current portfolio of member companies and partners ranges from logistics and transportation technologies to artificial intelligence and quantum computing. We want to build the future, and enable creative innovation across sectors along the way.”
A brand launch with more information about Venture Smarter Labs and its inaugural portfolio of companies and partners will be scheduled for later this year. Venture Smarter Labs will make announcements about “Fund 1” in 2019 ahead of making a series of direct investments in the space.
Venture Smarter’s acquisition comes less than three weeks after the company for winners of the 2018 Smart Infrastructure Challenge, which is a program that is a part of the Regional Smart Cities Initiatives. The challenge comes on the heels of the company helping to aid the launch of the , first made public in February as a part of the 115th Congress in the United States House of Representatives. Locally, Venture Smarter is known for driving forward the Cincinnati-based conversations around advanced and autonomous transportation, and helped to launch as a public-private-partnership with efforts that first sprouted in summer 2016.
Venture Smarter originally launched in Cincinnati, OH, and now has operations in Washington, DC; New York, NY; and Amsterdam, NE. The company expects to hire 23 people in Ohio, Kentucky, and Indiana in the next two years with plans of building out a new office space that will also be home to ‘Labs.’
Jamie Sordo, [email protected], +1 513 335 3208
About Venture Smarter:
Venture Smarter boasts leaders coming from The White House, State Department, The United States Senate, Congress, and leading technology companies and associations. With the acquisition, Venture Smarter is adding ‘Innovation’ as a fourth business unit, joining Strategy, Technology, and Public-Private-Partnerships. The company’s customers range from Oracle and Cisco to Cincinnati Bell and AAA, and its strategic partners range from federal agencies to local governments and universities.
Labs will expand Venture Smarter’s ability to make an impact and work with partners in the innovation space. Labs will eventually launch a Venture Fund and Maker’s Space, likely in or around Cincinnati, OH.
About Venture Strategy Partners:
Founded in 2015, Venture Strategy Partners took a nontraditional approach to supporting early stage innovations and advanced technologies, investing in and earning a vested interest in five early stage and high growth startups - all based in the United States.
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