In September, we partnered with JumpStart Inc. for Ohio VC Fest ‘25. This was the third consecutive year of the partnership and it was undoubtedly our most successful yet. What started in 2022 as a joint pilot led by JumpStart Ventures has evolved into Ohio’s premier venture capital summit, attracting founders and investors from around the world.
This year, the event drew over 800 registered attendees and participation spanned 38 states, 10 countries and 164 cities, underscoring the event’s growing national and global reach.
The two-day summit opened with a powerful keynote from best-selling author Amy Jo Martin, challenging us to ask, “Why not now?” and closed with Vivek Ramaswamy, who reminded us, “Don’t be afraid to fail.” Between those bookends were hundreds of curated one-on-one meetings, insightful founder presentations, and panel discussions centered around the impact and opportunities of AI.
Throughout the conference, one question continuously resurfaced: Is AI just hype? According to PitchBook, in the first half of 2025, roughly 65 percent of VC dollars flowed into 35 percent of tech startups with an AI angle. Flip that, and you see the remaining 35 percent of capital spread across 65 percent of startups. Across all stages, AI-driven companies are commanding higher valuations round after round.
The venture ecosystem seems to be all in on AI. Whether this trend will last remains to be seen. History tells us that, like every tech cycle and phenomenon, there will be winners and losers. Some startups will raise billions of dollars and fail, while others will do really well. In many ways, that’s not much different from today’s landscape.
At JumpStart Ventures, we’re betting on the winners that will be able to combine AI’s power with deep industry knowledge and strong networks to build scalable, innovative solutions to real world problems. And that brings us to the role Ohio can play.
As an investor who has evaluated and backed hundreds of startups, I believe Ohio can play a leading role in the AI race. However, there is one caveat. For Ohio to lead, our institutions and corporations must embrace partnerships with startups, accept that MVPs aren’t perfect, and be prepared for some failures along the way.
Ohio’s proximity to legacy industries like health care, logistics, distribution and manufacturing provide a real advantage. These are key areas for AI-driven transformation and they’re right in our backyard. Imagine connecting hundreds of manufacturers with software startups digitizing work instructions or modernizing ERP/MRP systems with AI. Picture Ohio-based health care systems piloting solutions for prior authorization, staffing, and credentialing with Health IT startups. These aren’t hypothetical, they’re startups in our portfolio who are actively selling their solutions to customers throughout the country.
Over the last three years, Ohio VC Fest has shown us what’s possible when founders, investors and industry leaders come together. Now, it’s time for Ohio corporations to collaborate with Ohio startups. ●
Hardik Desai is Managing Partner, NEXT Fund Manager, at JumpStart Ventures
