Via the Cincinnati Enquirer

“With cash, talent and cutting edge technology in tow, the founders of Zipscene have taken a fledgling idea to 25 cities nationwide.

“Sameer Mungur and Jaydev Karande partner with media companies to deliver local entertainment information via Web, email and text message. Since earning a 2007 investment by CincyTech, they’ve grown to a few dozen employees with headquarters in Walnut Hills. But today’s tough economic climate puts their rapid growth in jeopardy.

“Zipscene is one of ten companies funded in part by CincyTech. With dollars from Ohio’s Third Frontier, CincyTech is a partnership of local corporations, research institutions and the Cincinnati USA Regional Chamber with the goal of commercializing entrepreneurial ideas.

“Its first two years have yielded results impressive to the local venture community - it’s reviewed 320 business plans, provided some level of mentoring to 60 of those entrepreneurs and pumped $2.5 million into the chosen ten. Co-investors like Blue Chip Venture Co. and Fort Washington Investment Advisors have invested another $26 million into those companies over the past two years. They added 75 jobs in the last six months of 2008, with average salaries of $77,000.”

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