Two Northeast Ohio research foundations were approved Tuesday for a collective $1.1 million in technology validation grant funding from the Ohio Third Frontier Commission.
Cleveland Clinic Foundation was awarded a $1 million grant for its Cleveland Clinic Technology Validation and Start-up Fund V, the Ohio Department of Development said in a statement.
In addition, University of Akron Research Foundation was awarded a $100,000 grant for its Spark Fund.
In all, the commission awarded $2.5 million in technology validation and startup capital grants aimed at helping Ohio startup companies in industries ranging from health care to military applications demonstrate that their technologies are commercially viable, the Ohio Development Department said.
"These new technologies and breakthroughs speak to the future of innovation in Ohio," Gov. Mike DeWine said in the statement.
"These companies have the potential to improve health outcomes, strengthen our military, improve the energy supply and enhance cybersecurity," DeWine said.
The Ohio Third Frontier Commission also approved $3 million in funding to support the state's Diversity & Inclusion Technology Internship Program, which helps companies fill their needs for technology workers and grow the state’s inclusive tech economy, the development department said.
