Ohio Third Frontier Brings New Ideas to Market

Written by Innovate New Albany@InnovateNA13 years ago

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The Ohio Third Frontier, a bipartisan, technology-based economic development initiative led by the state of Ohio has attracted more than $5.9 billion in investments since its inception in 2002. In late July, the initiative granted more than $13 million in awards to provide direct financial support for organizations seeking to bring new or adapted products to market or which address technical and commercialization barriers.

With a mission to create new technology-based products, companies, industries and jobs in Ohio, the initiative has a successful track record—providing a nearly 9:1 return on its investments and creating more than 68,000 direct and indirect jobs for Ohioans.

According to their website, The Ohio Third Frontier is focused on making contributions in the following areas:

•  Dramatically increasing the availability of early-stage equity investment capital;
• Improving the entrepreneurial environment for technology based companies;
• Improving research and development collaborations between Ohio’s research universities and institutions and for-profit companies;
• Driving employment growth in Ohio’s technology sector;
• Contributing to the diversity and competitiveness of Ohio’s existing manufacturers; and,
• Attracting non-Ohio companies into the state.

To get more information on the initiative, visit www.ohiothirdfrontier.com.

Innovate New Albany, the city’s incubator for technology startups, entrepreneurs and small businesses, features 16,000 square feet of space within the New Albany Business Park’s Signature Office Building, 8000 Walton Parkway.