The Ohio Third Frontier Commission approved $76.85 million to help entrepreneurs develop innovative products and grow technology startup companies, including up to $26.5 million to Cleveland’s JumpStart Inc. and up to $14 million to Columbus-based Rev 1 Ventures Inc.
The Ohio Third Frontier Entrepreneurial Services Provider Program provides resources around the state to help entrepreneurs get their ideas to the marketplace, through mentorship; access to investors and capital; business support; assistance developing intellectual property and marketing/sales strategies; recruiting talent; incubators; and accelerators guiding teams through business “boot camp.”
Other statewide partners that received grants were Cincinnati’s CincyTech LLC, Toledo’s JumpStart Inc., Athens’s Ohio University TechGROWTH Ohio and Dayton’s The Entrepreneurs Center Inc.
In addition, the Ohio Third Frontier Technology Validation and Start-up Fund provides grants to Ohio institutions of higher education and nonprofit research institutions with the ultimate goal of licensing technologies to companies. Through that program, OhioHealth Research and Innovation Institute, in Columbus, was awarded $250,000 for the OhioHealth Innovation Development Fund.
Companies aiming to license institution-owned technologies can also receive funding to accelerate commercialization. Recipients are:
- Akron PolyEnergy Inc., in Akron, was awarded $100,000 for the development and commercialization of a polymer electrolyte that can be used in lithium ion batteries for electric vehicles to improve safety and performance.
- Capture Collective, in Columbus, was awarded $150,000 for the development and commercialization of a rapid-response testing kit for emergency and first responders to help identify radiation exposure.
- Exotome LLC, in Shaker Heights, was awarded $150,000 for the development and commercialization of therapeutics to improve image-guided surgery for prostate cancer.
- IR Medtek, in Gahanna, was awarded $150,000 for the development and commercialization of a new infrared probe that can quickly and accurately diagnose cancerous tumors.
- Matsaki Technologies Inc., in Columbus, was awarded $100,000 for the development and commercialization of an infrared sensor system that can detect natural gas leaks.
- NeuroTherapia Inc., in Cleveland, was awarded $150,000 for the development and commercialization of a new drug to target and prevent inflammation in the brain often found in patients with Alzheimer’s and other neurological diseases.
- RooSense LLC, in Akron, was awarded $100,000 for the development and commercialization of a wearable fabric that monitors hydration levels during exercise or training.
