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Ohio Supporting Technology Startups & Talent

For Immediate Release: April 19, 2022
Contact: Todd Walker Todd.Walker@development.ohio.gov

Today, the Ohio Third Frontier Commission approved $2.5 million in funding that will provide capital to technology startup companies in industries ranging from health care to military applications. The Commission also approved $3 million in funding for continued support of the Diversity & Inclusion Technology Internship Program to help companies fill their technology needs, build Ohio’s workforce, and grow the state’s inclusive tech economy.

“These new technologies and breakthroughs speak to the future of innovation in Ohio,” Governor Mike DeWine said. “These companies have the potential to improve health outcomes, strengthen our military, improve the energy supply, and enhance cybersecurity.”

“In addition to advancing cutting-edge technology, we are investing in young talent to ensure these companies have the skilled workforce necessary to continue growing and innovating here in Ohio,” said Lydia Mihalik, director of the Ohio Department of Development and chair of the Ohio Third Frontier Commission. “We are building Ohio’s inclusive tech economy while helping companies stay competitive by identifying and implementing new technology-driven solutions.”

Technology Validation and Start-up Awards

The Ohio Third Frontier Technology Validation and Start-up Fund provides grants to Ohio institutions of higher education and other nonprofit research institutions. The funding is to demonstrate that a technology is commercially viable through activities such as testing and prototyping. The goal is to license the technologies to companies.

Companies aiming to license institution-owned technologies can also receive funding to accelerate commercialization through activities such as market research and further prototyping. This helps companies either raise funds or get the licensed technology to the marketplace faster.

Cincinnati Children’s Hospital Medical Center, located in the city of Cincinnati (Hamilton County), was awarded $1,000,000 for Cincinnati Children’s Innovation Ventures Acceleration Program.

The Cleveland Clinic Foundation, located in the city of Cleveland (Cuyahoga County), was awarded
$1,000,000 for the Cleveland Clinic Technology Validation and Start-up Fund V.

The University of Akron Research Foundation, located in the city of Akron (Summit County), was awarded $100,000 for The University of Akron Research Foundation Spark Fund.

Collaborative Concepts LLC, located in the city of Dayton (Montgomery County), was awarded
$100,000 for the development and commercialization of a GPS training aid, which instructs air crews on alternative forms of navigation when a GPS system is compromised.

Desulf-TEK LLC, located in the city of Columbus (Franklin County), was awarded $99,795.94 for the development and commercialization of a mobile fuel desulfurizer to remove sulfur impurities from diesel and JP-8 fuels, saving time and cost.

HyperPath Solutions, located in the city of Kingston (Ross County), was awarded $100,000 for the development and commercialization of a web-based pathology review platform, providing image management and workflow assistance.

Ignyte Assurance Platform, located in the city of Miamisburg (Montgomery County), was awarded
$100,000 for the development and commercialization of an automated process for cybersecurity compliance scanning and analysis on operating systems and applications.

Diversity & Inclusion Technology Internship Program

The Ohio Third Frontier Diversity & Inclusion Technology Internship Program helps companies fill their technology needs by matching them with diverse college students across all areas of study, ranging from marketing and design, to engineering, mathematics, and software development. The internships also help grow Ohio’s inclusive tech economy, bringing new ideas, experiences, and perspectives from some of the state’s smartest young talent.

The program has a track record of success, with interns helping companies create mobile apps; build out websites; develop social media platforms to connect with new customers; conduct market research, data analysis, and product design; develop new AR and VR technologies; and implement new software to modernize accounting and operations and enhance cybersecurity.

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