Two area companies were among six tech startups to receive a share of $225,000 in the round of investments announced by Innovation Fund Northeast Ohio.
The startups will use the money to test technologies and prove business models, according to an Innovation Fund news release.
O2 RegenTech of Akron, a medical device company focused on easy-to-use wound care solutions, received $100,000 — the largest investment awarded this round by the fund, which is administered by Lorain County Community College’s technology incubator.
O2 RegenTech’s technology is protected by pending patents licensed from the University of Akron. Its first product is an oxygen-releasing, moist, antimicrobial dressing to promote chronic wound healing.
The five other recipients each received $25,000 awards, including Akron-Canton based Vlipsy.
The company created a search engine for short video clips that help users express themselves in text messaging and on social media through quotes and scenes from movies, television shows and other internet videos.
With the recent investments, the Innovation Fund has awarded nearly $12 million to 183 companies since it launched in 2007.
“After a decade, we are still impressed by the companies starting in Northeast Ohio that have really big ideas,” said Dennis Cocco, director of the fund and co-director of technology incubator.