Startup investor L Marks expands into US to foster innovation in the Midwest
London-based startup accelerator L Marks has announced its US expansion, just a month after launching operations in Japan.
The early stage investor has established a new operations centre in Columbus, Ohio in a bid o pursue innovative tech startups in the US marktet.
The area is home to many US corporate headquarters in sectors in which L Marks is interested in.
Examples include retail companies like Abercrombie & Fitch, Victoria’s Secret and Wendy’s, automotive companies like Honda and Safelite, and utility companies such as American Electric Power.
The decision to move to the Midwest was also made because the area is allegedly becoming a major technology hub as it wins market shares from the East Coast and West Coast.
Daniel Saunders, chief executive of L Marks, said: “North America is a hugely exciting market for us with some of the strongest corporate brands in the world and a large network of innovative technology startups. Whilst most companies don’t look beyond the East and West coasts, at L Marks we like to think more laterally and in the Midwest we have a region with a huge cluster of major corporates and a booming scene crying out for the innovation expertise that we offer.
“Columbus lies at the crossroads of America and it has spawned business leaders for decades. It is a hugely exciting place from which to launch our US operations,” he added.
L Marks also supports the Columbus 2020 initiative in the area; a mission to generate opportunity and build capacity for economic growth across 11 Central Ohio countries.
President and CEO of Columbus 2020, Kenny McDonald, said: “We are excited L Marks chose the Columbus Region for its new operations centre and the site for the BMW Collaboration Lab. The Columbus Region is realizing its potential as a technology and innovation center and we look forward to their growth in our market.
This US expansion comes alongside the launch of the BMW Financial Services US Collaboration Lab 2018; as part of a partnership which was announced earlier this year.