CincyTech's $250,000 investment in a Chicago start-up has drawn the company to Ohio, the second such announced move in the last month.
Samplesaint, which has developed a system that allows consumers to redeem coupons online using their mobile phones, will move to Cincinnati this spring, according to a release from
CincyTech. The company's Cincinnati operations will include a research and development lab as well as data analysis operation.
CincyTech says Samplesaint's technology allows coupons to be scanned through a checkout system using any mobile device. The company also has developed a data base that connects with a retailer's point of service system, thus allowing coupons to be identified, redeemed and their expiration dates confirmed.
Samplesaint could not be reached immediately to elaborate on plans, but CEO Lawrence Griffith says in a statement March 14 that Cincinnati was attractive as a consumer marketing center.
"With companies such as Procter, Kroger, Macy's and dunnhumby, it is a hub of expertise about the consumer mindset. Samplesait looks forward to finding its place in that ecosystem."
CincyTech's president, Bob Coy notes in the release that the market for mobile couponing is predicted to rise to more than $6 billion within the next three years and says the rise in mobile phone use positions Samplesaint for growth.
CincyTech is a public-private venture development organization that invests in high-tech startups in the Cincinnati area. Earlier this month it announced that a similar $250,000 investment will bring Chicago-based
turboBOTZ to the Cincinnati, also this spring. turboBOTZ and Samplesaint represent CincyTech's 20th and 21st portfolio companies, respectively.
Source: CincyTech