The state of Ohio is a fast-growing hub for healthcare startups. According to Business Facilities (2021), Ohio ranks #6 nationally in healthcare jobs, and Cleveland ranks #1 in large healthcare hubs. The Cleveland Clinic is a leading firm in healthcare research areas, consistently as the #2 best hospitals overall both nationally and globally.
But, are any angel investors in Ohio actively investing in early-stage startups?
Of course! Ohio is home to hundreds of active angel investors who fund healthcare startups. Let us help you with a list of the state's most active startup investors.
Get To Know The Top 6 Angel Investors in Ohio Who Invest in Healthcare Startups
| Investor | Focused Sectors | Notable Investments | Investment Range |
|---|---|---|---|
| Jerry Frantz | Health Care, AI, Cyber Security, SaaS, Risk Management, Cloud Data Services, Real-Time, FinTech | Bezlio, Monarch Teaching Technologies, CardioInsight | $100,000 to $500,000 |
| Tim Gosline | Communications Infrastructure, IT, Electronics, SaaS, Commercial Real Estate, Marketing Automation | The Marena Group, Clintar, Compana, Transporeon | $100,000 to $500,000 |
| Brad Roberts | Communications Infrastructure, Organic Food, Wearables, mHealth, SaaS, Enterprise Software | Area Wide Protective, Naturally Slim, INVIVO | $200,000 to $1M |
| Daniel Luketic | Cloud Data Services, Health Care, AI, Medical Device, FinTech | Minimally Invasive Devices, Wisr, Assurex Health | Around $250,000 |
| Harry Shimp | Health Care, Medical | NeuroControl Corporation | $20,000 to $200,000 |
| Michael Gerbasi | Advanced Materials, Agriculture, Biotechnology, Health Care, Network Security, Financial Services | MycoTechnology, Federos, Heavy Equipment Colleges | $150,000 to $400,000 |
Jerry Frantz
- Focused Sectors: Health Care, Medical, Medical Device, Women Founded, Artificial Intelligence, Business Intelligence, Compliance, Cyber Security, Enterprise Software, Risk Management, SaaS, Security, Cloud Data Services, Hospital, Logistics, Supply Chain Management, Employment, Management Consulting, Service Industry
- Present In: Ohio
- Notable Investments: Bezlio, Monarch Teaching Technologies, Let's Gift It, EmployStream, ReadySet Surgical, CardioInsight Technologies, OrthoHelix Surgical Designs.
Jerry Frantz is a famous angel investor with a lot of experience in funding tech-driven and healthcare startups. He started funding businesses in 2010 and currently has invested in over 50 startups, becoming one of the most active private investors in the state.
When investing in startups, Jerry prioritizes startups that are presenting solutions in the health tech niche. The investment range of Jerry Frantz is between $100,000 and $500,000, depending upon the company.
Tim Gosline
- Focused Sectors: Communications Infrastructure, Information Services, Information Technology, Landscaping, Commercial, Consulting, Resorts, Restaurants, Software, Training, Food and Beverage, Manufacturing, Organic Food, Electronics, Product Design, Wearables, Apps,
- Present In:
- Notable Investments: The Marena Group, Clintar Commercial Outdoor Services, Connexient, Compana, Transporeon
Tim Gosline is an experienced angel investor with a strong venture capital and private equity background. He invests in early-stage startups, particularly at the seed and Series A stages. He values startups that demonstrate market traction and a robust product-market fit.
Before becoming an angel investor, Tim worked at Sequoia Capital, where he served as a Senior Associate, and Accel Partners, where he worked as a Principal.
Gosline has been investing in startups since 2015 and has funded over 25 companies. His investment range is typically between $100,000 and $500,000.
Brad Roberts
- Focused Sectors: Communications Infrastructure, Information Services, Information Technology, Landscaping, Commercial, Consulting, Resorts, Restaurants, Software, Training, Food and Beverage, Manufacturing, Organic Food, Electronics, Product Design, Wearables, Apps,
- Present In: Ohio
- Notable Investments:
- Area Wide Protective, Alcohol Monitoring Systems, Naturally Slim, INVIVO Communications Inc., Swedish Education Group:
Brad Roberts is a seasoned angel investor known for his strategic investments in early-stage tech startups. He typically focuses on companies with a strong technological edge, innovative solutions, and founders who demonstrate resilience and a clear vision for growth.
Before becoming an angel investor, Brad worked at Andreessen Horowitz, where he served as a Venture Partner, and Insight Partners, where he was a Senior Associate.
His investment range is between $200,000 and $1 million.
Daniel Luketic
- Focused Sectors: Cloud Data Services, Health Care, Hospital, Logistics, Medical Device, Supply Chain Management, Artificial Intelligence, Business Intelligence, Internet, Market Research, Messaging, Project Management, Social Media, Software, Medical, Women Founded, Employment, Management Consulting, Service Industry, Information and Communications Technology (ICT), Information Technology, Information Services, Personal Finance, Apps, Financial Services, FinTech, Payments
- Present In: Cleveland and Columbus
- Notable Investments: Minimally invasive devices, Wisr, DecisionDesk, 7SIGNAL, Assurex Health, Prevacept Infection Control.
Investing in early-stage startups for over 8 years, Daniel Luketic is an experienced angel investor. Daniel looks for companies that exhibit strong leadership, disruptive potential, and a well-defined market strategy. He loves funding startups that can generate a decent ROI and have scalable products at market-competitive prices.
He also makes his investments through social media platforms, having an investment range of around $250,000.
Harry Shimp
- Focused Sectors: Health Care, Medical
- Present In: Ohio
- Notable Investments: NeuroControl Corporation
Harry Shimp is a seasoned angel investor with a diverse background in business leadership and investment. He currently serves as the CEO of Carlow Consulting, where he advises companies on business strategy and growth.
As an angel investor, Shimp focuses on early-stage startups. He invests in startups that are led by experienced founders and can easily generate 3-6x ROI within the first 24 months of investment.
Once Harry Shimp has invested in a business, he also gives the founders free access to his consulting services and helps the business throughout different stages.
Harry has been actively investing in startups since 2014 and has funded over 15 companies. His investment range falls between $20,000 and $200,000.
Michael Gerbasi
- Focused Sectors: Advanced Materials, Agriculture, Biotechnology, Food and Beverage, Organic Food, Dental, Health Care, Network Security, Information Services, Information Technology, Software, Telecommunications, EdTech, Education, Higher Education, Training, Vocational Education, Banking, Crowdfunding, Financial Services
- Present In: Ohio
- Notable Investments: MycoTechnology, The American Eagle Mortgage Co., LLC, Federos, NexTech Partners, Heavy Equipment Colleges of America, Cap City Dental Lab
Michael Gerbasi, Managing Partner of MG Partners, is an angel investor with a strong focus on tech and healthcare sectors. Known for backing companies with disruptive technologies, Gerbasi seeks startups with scalable models and solid leadership.
Gerbasi is known for funding startups that have a solid business model, strong leadership teams, and clear paths to scaling.
Currently, Michael serves as the Managing Partner of MG Partners, a private investment firm he founded, where he leads investments and mentors startup teams.
Since 2013, Gerbasi has been actively funding startups and has invested in over 20 companies. His investment range is between $150,000 and $400,000.
How To Make Your Startup Look Investible
Securing investment for a startup can be challenging, as investors prioritize ventures with growth potential and a credible foundation.
Let us quote 5 secret tips to make your startup more appealing to investors:
1. Build a Strong Team
Investors prioritize teams over ideas. They want to invest in a team of dedicated individuals who have the motivation to push their early-stage startup toward that unicorn status.
2. Market Validation
Before you talk about exits, explain the demand for your product. Market validation can include customer feedback, early sales, or pilot programs. This proof of demand shows investors that your startup has real potential.
3. Solid Financials
Prove your financial statements (income statements, cash flow projections, etc.) are well-organized and show a path to profitability. Investors want transparency and a realistic understanding of how their investment will be used to achieve growth milestones.
4. Unique Value Proposition
Investors love startups with a unique competitive edge. Always articulate your startup’s unique value proposition, what problem it solves, how your solution is better than others, and why this advantage is sustainable over time.
5. Clear Business Plan
Your business plan should include your mission, vision, target market, competitive analysis, revenue model, and financial projections. It should provide a detailed roadmap for how your startup will grow, including specific steps to scale and the timelines for achieving key milestones.
Wrap-Up:
In a nutshell, Ohio is a thriving hub for angel investors, with cities like Columbus, Cleveland, and Cincinnati playing key roles in attracting investor attention.
The state’s vibrant startup ecosystem, bolstered by healthcare innovations, fintech, and manufacturing, has made it a prime destination for investments.