Web Content Viewer
Actions

Ohio Supports Technology Entrepreneurs

For Immediate Release: 
Date: October 18, 2022 
Contact:   Todd Walker     Todd.Walker@development.ohio.gov

 

Third Frontier Provides Funds to Accelerate Innovation

 

Today, the Ohio Third Frontier Commission approved $3.6 million in grants to help entrepreneurs develop innovative products and move them toward the marketplace.

“Ohio’s research institutions and entrepreneurs are on the cutting edge of technological advancements, and my administration is proud to support this important work,” Governor Mike DeWine said. “We are investing in promising research and innovation to build our economy and improve the quality of life for Ohioans.”

“Innovation is in Ohio’s DNA, and these grants will enable entrepreneurs to push innovative ideas forward,” said Lydia Mihalik, director of the Ohio Department of Development and chair of the Ohio Third Frontier Commission. “These technology startups are building the companies and jobs of tomorrow.”

Technology Validation and Start-up Awards

The Ohio Third Frontier Technology Validation and Start-up Fund provides grants to Ohio research institutions to select, support and advance certain technology projects toward commercialization. The fund also provides grants to Ohio companies aiming to license institution-owned technologies to accelerate commercialization through activities such as market research and further prototyping. This helps companies raise funds and get the licensed technology to the marketplace faster.

Bon Secours Mercy Health Foundation, located in the city of Toledo (Lucas County), was awarded $250,000 for the Technology Validation Fund #3.

Case Western Reserve University, located in the city of Cleveland (Cuyahoga County), was awarded $1,000,000 for the Technology Validation Start-up Fund – Pool of Funds.

The Ohio State University, located in the city of Columbus (Franklin County), was awarded $1,000,000 for the Accelerator Awards.

University Hospitals Health System Inc., located in the city of Cleveland (Cuyahoga County), was awarded $500,000 for the University Hospitals Ventures Fund.

Band Connect, located in the city of Cincinnati (Hamilton County), was awarded $150,000 for the development and commercialization of a product to address patient adherence to at-home physical therapy assignments by providing sensor-enabled exercise equipment to collect and transfer exercise data to software to tailor exercise regimens to improve recovery.

Bowerbags LLC, located in the city of Dayton (Montgomery County), was awarded $100,000 for the development and commercialization of a modular carrying solution for the military and first responders to help them reduce injuries caused by heavy weight loads carried on the job.

Hyphen Innovations, located in the city of Beavercreek (Greene County), was awarded $100,000 for the development and commercialization of a simplified 3D printing of complex parts with a development process that requires fewer manufacturing procedures and less structural validation for dynamic systems.

MC1R Ventures LLC, located in the city of Cincinnati (Hamilton County), was awarded $150,000 for the development and commercialization of peptides that stimulate pigmentation without any sun exposure (sunless tanning) by increasing production of the natural pigment melanin and its even dispersion in the skin.

Nichefire Inc., located in the city of Cincinnati (Hamilton County), was awarded $100,000 for the development and commercialization of a business-to-business software application that extracts qualitative and quantitative data pertaining to emerging consumer, economic, political, and societal trends.

StormImpact Inc., located in the city of Dublin (Franklin County), was awarded $100,000 for the development and commercialization of software technology machine learning models and storm data dashboards that provide advanced intelligence for electric utilities predicting weather-related power outages, equipment damage, and how many customers will lose power. Technology will enable proactive storm preparation, resource planning, and a reduction in power outages.

Zvelt Therapeutics, located in the city of Cleveland (Cuyahoga County), was awarded $150,000 for the development and commercialization of a platform technology that utilizes an adeno-associated viral gene therapy platform that simultaneously enables de-targeting of the liver, thus avoiding liver toxicity, and enables gene expression in adipose tissue. Technology will focus on rare metabolic syndromes with high disease burdens, such as patients with leptin deficiency.

Sign up for TechOhio to see why Ohio Third Frontier is at the foundation of Ohio’s technology economy, making Ohio the most innovative, creative, and entrepreneurial state in the Midwest. Hear stories of Ohio entrepreneurs, breakthrough technologies, and cutting-edge research. See how partnerships with proven brands and industries, a community of support, and the lifestyle you want make Ohio the place to build companies. Follow TechOhio on Facebook, LinkedIn, Twitter, and Instagram (@TechOhioGov).