Columbus City Council to Consider $250,000 Grant for Rev1 Ventures
The proposed funding provides local matching dollars for an $18.7 million state startup initiative, though city records note an expired vendor certification must be resolved before passage.
Under Columbus City Council legislation, the Director of the Department of Development is authorized to enter into a $250,000 grant agreement with Rev1 Ventures to support its role in administering the Entrepreneurial Signature Program. Columbus City Council is scheduled to consider the measure on its consent agenda on Monday, Nov. 2, following the proposal's introduction on Oct. 26.
City records designate the measure as Ordinance 2798-2026 with consent status under the Economic Development & Small and Minority Business Committee. Residents tracking municipal proceedings can reference Ordinance 2798-2026 on the council calendar.
According to legislative documents, Rev1 Ventures secured an $18.7 million regional award from the State of Ohio for the Entrepreneurial Signature Program to accelerate the creation and growth of new technology companies in Central Ohio. The state program includes early-stage capital to meet the needs for pre-seed capital for startup technology companies and required a 1-to-2 funding match as a condition of the initiative.
The legislation draws on $250,000 available in the Neighborhood Economic Development Fund to finance the award. Rather than reimbursing expenses after the fact, the city will disburse the grant on a predetermined advance schedule.
Columbus has contributed matching and administrative funds to the regional startup initiative since 2007, according to municipal legislative records. The city provided $188,000 annually from 2007 through 2010 as its local match, then increased contributions to $500,000 annually from 2011 through 2014 for administrative costs. Columbus contributed $450,000 annually from 2015 through 2017, and has provided $250,000 each year from 2018 through 2025.
In the contract compliance section of the legislation, city records note that the vendor's contract compliance number 011852 expired on 07/08/2026, and state that the vendor will be contract compliant prior to the passage of this ordinance.
Rev1 Ventures, formerly known as TechColumbus, is a seed-stage venture development organization that combines investment capital and strategic services to help entrepreneurs build products and companies. On Sept. 15, Rev1 Ventures announced that Jennifer Hankins was named chief executive officer and president following a national search. Hankins succeeded Tom Walker, who transitioned to executive chairman of the board.
Previously, Pique Media reported on executive leadership changes at Rev1 Ventures on Sept. 24 and examined council's review of a $1 million grant to One Columbus from the Neighborhood Economic Development Fund on Oct. 23.
How we know this
The sources and records behind this story, with the facts they support.
Supporting evidence (9)
Under Columbus City Council legislation, the Director of the Department of Development is authorized to enter into a $250,000 grant agreement with Rev1 Ventures to support its role in administering the Entrepreneurial Signature Program.
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BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS: SECTION 1. That the Director of the Department of Development is hereby authorized to enter into a grant agreement with Rev1 Ventures, a not-for-profit entity, in an amount up to $250,000.00 for the purpose of supporting its role as the region’s Lead Applicant Agency, responsible for administering the Entrepreneurial Signature Program grant funding, and is authorized to advance funds per a schedule to be included in the agreement.
City records designate the measure as Ordinance 2798-2026 with consent status under the Economic Development & Small and Minority Business Committee.
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{Body=Economic Development & Small and Minority Business Committee, Content type=Legislation, Document coverage=API text and document metadata; linked PDF bytes are not retained, File=2798-2026, Legislation type=Ordinance, Municipality=columbus, Status=Consent, Text version=1}
According to legislative documents, Rev1 Ventures secured an $18.7 million regional award from the State of Ohio for the Entrepreneurial Signature Program to accelerate the creation and growth of new technology companies in Central Ohio.
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Rev1 Ventures led a successful regional proposal to the State of Ohio to secure $18.7 million for the Entrepreneurial Signature Program (ESP) which accelerated the creation and growth of new technology companies in Central Ohio.
The state program includes early-stage capital to meet the needs for pre-seed capital for startup technology companies and required a 1-to-2 funding match as a condition of the initiative.
Read supporting passage
The ESP Program includes early-stage capital to meet the needs for pre-seed capital for Ohio start-up technology companies. A 1-to-2 funding match was required as a condition of the ESP Program.
The legislation draws on $250,000 available in the Neighborhood Economic Development Fund to finance the award.
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FISCAL IMPACT: Funding in an amount up to $250,000.00 for this agreement is available within the Neighborhood Economic Development fund.
Rather than reimbursing expenses after the fact, the city will disburse the grant on a predetermined advance schedule.
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Funding will be advanced to the agency on a predetermined schedule.
Columbus has contributed matching and administrative funds to the regional startup initiative since 2007, according to municipal legislative records.
Read supporting passage
The City of Columbus provided $188,000.00 in 2007, 2008, 2009 and 2010 as their portion of the match. In 2011, 2012, 2013 and 2014, the City of Columbus provided $500,000.00 respectively, towards this initiative in the form of administrative costs associated with the program. In 2015, 2016, and 2017, the City of Columbus contributed $450,000.00 to the program. In 2018, 2019, 2020, 2021, 2022, 2023, 2024, and 2025, the City of Columbus contributed $250,000.00 to the program. The City wishes to contribute $250,000.00 in 2026.
In the contract compliance section of the legislation, city records note that the vendor's contract compliance number 011852 expired on 07/08/2026, and state that the vendor will be contract compliant prior to the passage of this ordinance.
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CONTRACT COMPLIANCE: The vendor’s contract compliance number 011852 and expired on 07/08/2026. The vendor will be contract compliant prior to the passage of this ordinance.
Rev1 Ventures, formerly known as TechColumbus, is a seed-stage venture development organization that combines investment capital and strategic services to help entrepreneurs build products and companies.
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Rev1 Ventures, formerly known as TechColumbus, is a seed stage venture development organization that combines investment capital and strategic services to help entrepreneurs build products that people want and companies that succeed.
Rev1 Ventures Names Jennifer Hankins as New CEO & President
Supporting evidence (1)
On Sept. 15, Rev1 Ventures announced that Jennifer Hankins was named chief executive officer and president following a national search.
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COLUMBUS, Ohio, Sept. 15, 2026 /PRNewswire/ -- Rev1 Ventures, the Midwest venture studio that partners with innovators in SaaS/AI, deep tech and life sciences, today announced that Jennifer Hankins has been named its new Chief Executive Officer and President following a national search for a leader to build on Rev1's track record of supporting entrepreneurs, strengthening the innovation ecosystem and driving economic impact across Ohio.
Rev1 Ventures Names Jennifer Hankins Chief Executive Officer and President
Supporting evidence (2)
Hankins succeeded Tom Walker, who transitioned to executive chairman of the board.
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Hankins succeeds Tom Walker, who transitioned to executive chairman of the board.
Previously, Pique Media reported on executive leadership changes at Rev1 Ventures on Sept. 24 and examined council's review of a $1 million grant to One Columbus from the Neighborhood Economic Development Fund on Oct. 23.
Read supporting passage
Rev1 Ventures Names Jennifer Hankins Chief Executive Officer and President
Columbus City Council Considers $1 Million Economic Development Grant to One Columbus
Supporting evidence (1)
Previously, Pique Media reported on executive leadership changes at Rev1 Ventures on Sept. 24 and examined council's review of a $1 million grant to One Columbus from the Neighborhood Economic Development Fund on Oct. 23.
Read supporting passage
Columbus City Council Considers $1 Million Economic Development Grant to One Columbus