ANGELS ADVANCE TECHNOLOGY
Ohio TechAngel Fund to provide commercialization capital

FOR IMMEDIATE RELEASE
April 7, 2004

Columbus, OH -- State Development Director Bruce Johnson today applauded the formation of the Ohio TechAngel Fund, LLC as an integral part of advancing Ohio’s technology-based industries. The private Fund was formed March 31, 2004 to provide investment capital for the commercialization of innovations in life sciences, information technology, physical sciences and novel service models in Ohio.

"The future of our economy is dependent on commercializing the innovative ideas coming about as a result of research in Ohio," said Johnson. "Funds like Ohio TechAngel provide key dollars to turn ideas into reality."

With 50 private equity investors, often called business “angels,” Ohio TechAngel is central Ohio’s first angel fund and the largest in the upper Midwest. In addition to providing the capital for the $1,300,000 fund, the angels provide mentoring for management and are a statewide networking resource.

The Fund manager is the Technology Commercialization Company LLC, an Ohio limited liability company, the managing member of which is TCC Holdings, Inc., a wholly owned subsidiary of the Science and Technology Campus Corporation, also known as Scitech. Scitech’s mission is to assist in the commercialization of technology developed in the Central Ohio area, and to develop the OSU West Campus Research Park.

In addition to Scitech, the Fund has four business development partners: The Business Technology Center, the business incubator on the OSU West Campus; the Columbus Venture Network (CVN), an affiliate of the Greater Columbus Chamber of Commerce; OMERIS, a non-profit organization designed to build and accelerate bioscience industry, research, and education in Ohio; and Columbus Technology Council, a non-profit organization of technology-based companies in the central Ohio region. A large benefit of the Fund’s structure is the business management expertise that will be available to recipients through the Fund’s five partners and its members, according to John O. Huston, a Fund member.

“Angel capital is the catapult which truly launches young companies,” said Huston. “Our Fund will help Ohio’s most promising entrepreneurs take-off and then grow many high paying, high tech jobs as they gain altitude.”

Entrepreneurs interested in learning more about the Fund should contact Mike Bowers at CVN, (614) 225-6938.