State Funding Available for Technology Startups

(COLUMBUS, Ohio) - The Ohio Department of Development today announced a new round of funding is now available for technology startup companies looking to advance their products into the global marketplace. The Ohio Third Frontier is seeking proposals for Phase 2 projects through the Technology Validation and Start-Up Fund.

"Innovation propels us forward, and programs like the Technology Validation and Start-Up Fund demonstrate how partnerships can accelerate growth," said Lydia Mihalik, director of the Department of Development and chair of the Ohio Third Frontier Commission. "By coming alongside startups and standing by the institutions that support technological advancement, the DeWine-Husted Administration is bolstering the marketplace and strengthening Ohio's economic future."

The Technology Validation and Start-Up Fund aims to boost the state's economy through commercializing technologies invented by and developed at higher education institutions, nonprofit research institutions, and federal labs, as well as supporting startups that license those technologies to develop and commercialize new products. The program targets companies ready to move technologies from Ohio research institutions to the marketplace.

Phase 2 Start-up Fund awards are up to $200,000 for each project. Awards focus on technology and tech-enabled products in advanced manufacturing, materials, biomedical and life sciences, energy, sensors, and software and information technology.

Prospective applicants may submit written questions to the Request For Proposals through Nov. 1. Proposals are due by 4 p.m. Nov. 8, with awards likely to be announced in January 2025.

Since 2012, Ohio Third Frontier has awarded more than 300 TVSF grants worth nearly $57 million. Companies awarded have gone on to have commercial success based on TVSF-supported technologies and often receive additional investments from Ohio Third Frontier's Pre-Seed Funds.

To learn more and apply, visit the program webpage at Development.Ohio.gov/TVSF.

Ohio Third Frontier works with innovative startup companies across the state, making Ohio the destination for technology entrepreneurs. The Ohio Department of Development empowers communities to succeed by investing in Ohio's people, places, and businesses. Learn more about our work at https://development.ohio.gov/.