CINCINNATI - Cincinnati grabbed some national attention on CNBC's Squawk Box on Monday morning, as Tim Schigel, fund of funds manager for Cintrifuse, talked up with innovation ecosystem he is trying to build in the Tri-State.
"While Detroit and other cities have failed to adapt, Cincinnati has successfully reinvented itself as a hub for innovation," said Joe Kernen, co-host of the CNBC morning show, which interviewed Schigel at 6:40 a.m. Monday.
Schigel talked about his own California-based startup, Share This, before moving on to Cintrifuse. The web-sharing platform, which now appears on 2.5 million websites, makes money by connecting advertisers to an audience.
"We help the publishers understand what contents get shared and we help advertisers find audiences across the web that are sharing on topics that they're concerned about," Schigel said.
Next, he talked about its $51 million fund of funds that is investing in other venture capital firms with the goal of getting investors from all over the country to fund more Cincinnati companies. He was able to define the basic value proposition for those potential investors.
"The region is known for consumer insights," he explained. "This world is driven by those consumer insights and those are happening in what we call the middle coast."
Schigel also delivered a Cincinnati Reds baseball cap and Joey Votto bobblehead to Kernen, who chided co-host Andrew Sorkin for his lack of Cincinnati knowledge.
"I know very little about Cincinnati," said the New York Times columnist. "I have been to Cincinnati once."