Jon Pinney, the managing partner of the Kohrmann, Jackson & Krantz law firm, on Wednesday, Feb. 27, told the audience at the annual meeting of the North Coast Angel Fund (NCAF) that Blockland Cleveland, the effort to make Cleveland one of the top homes for technology entrepreneurship led by auto dealer and tech entrepreneur Bernie Moreno, is close to finding a home for a tech innovation incubator.
Although the Blockland Cleveland movement has been tied to the emerging blockchain technology, Moreno told the NCAF members that Blockland Cleveland’s tech hub would welcome all types of technology startups, not just those based on blockchain technology, which is a decentralized digital technology that cannot be edited or deleted by anyone but its owner, but that can be available to a large group of people or organizations.
The discussion with Moreno and Pinney, held at Corporate College East, was part of a program that reviewed NCAF’s 2018 results and looked to the future of the organization, a venture capital firm specializing in pre-seed, startup and early-stage investments. NCAF seeks to invest in technology companies based in Northeast Ohio that focus on life sciences, advanced materials, electronics and controls and information technology. The firm typically invests in companies based in Ohio with a focus on Northeast Ohio.
Managing director Todd Federman called 2018 an “inflection point” for the 12-year-old, for-profit investment firm and that he could report on several “companies that have demonstrated meaningful commercial success.”