Akron’s capital idea: More seed money now will grow more jobs later
Akron hopes to lure another group of biomedical and technology-related companies to the city with $1.75 million in new private equity funds. Akron BioInvestments Fund I, established in 2012, helped build 13 businesses and products that concentrate on everything from surgical glue and image-guided surgery to online therapy for children with special needs and DNA […]
CincyTech predicts 600 new jobs with $30M fund
CincyTech has formed its fourth and largest fund to date, one that will provide about $30.75 million to invest in as many as 25 homegrown startups in the digital and life sciences fields. The Cincinnati-based accelerator projects the CincyTech Fund IV LLC will create at least 600 jobs in Southwest Ohio over the next five years. New hires would earn on average about $80,000 […]
Three Ohio State University spinoffs, two applied research projects land support from Ohio Third Frontier
Three Ohio State University spinoff companies and two research projects were awarded a combined $400,000 from the Ohio Third Frontier Commission out of a total $12.5 million awarded Thursday.
Xavier X-Lab demonstrates key support program success factors
No fund, but Xavier X-LAB demonstrates a systematic approach to early stage concept development through an “internal accelerator/competition” program. From our experience, this program implements three key fundamentals of successful, university-led, gap programs: 1.Engages Innovation Community: An ideal gap program incorporates an extended network of technical, business, and investment professionals into the process. These individuals […]
Few Awards Lead to Frustrations at Third Frontier Fund, Others Point to Recent Program Changes
Many of the people in charge of the Ohio Third Frontier program aren’t happy. Several members of the Third Frontier Commission and Advisory Board expressed deep frustration over the relatively meager number of awards that the technology-focused economic development program has made during fiscal year 2012, which ends on June 30.
Nanofiber lands $500K from TechColumbus
TechColumbus announced Tuesday it has stepped up its commitment to incubator tenant Nanofiber Solutions LLC with a $500,000 loan that will convert to equity, the largest to date from the current $2 million round of state-backed Pre-Seed Fund investments.