Four Northeast Ohio organizations are expected to receive $500,000 in Ohio Third Frontier funding to help them take institution-owned technologies to market.
The local funding was included in technology validation and startup grants of nearly $4 million for eight Ohio organizations, according to the Ohio Department of Development. The grants are aimed at helping companies raise capital and get licensed technology to the marketplace faster, the department said.
The Ohio Third Frontier Commission also approved $3 million in funding for the state's Diversity & Inclusion Technology Internship Program, which helps companies fill technology workforce gaps by matching them with college students across all areas of study, the department said.
Local technology validation and startup awards are going to:
- Enspire DBS Therapy Inc. in Cleveland is set to receive $150,000 to support the commercialization of a technology that delivers deep brain stimulation to improve arm function in stroke patients.
- Mobius Care Inc., also in Cleveland, was awarded $150,000 to commercialize a new class of oral, gut-specific agents that treat inflammatory bowel disease.
- University of Akron in Akron, Ohio, was awarded $100,000 to support its University of Akron Research Foundation Spark Fund, which helps validate technologies for commercialization.
- ZSense Systems LLC in Akron was approved for a $100,000 grant to commercialize sensors that monitor the oil systems in heavy-duty trucks and mining machinery to asses machine health, and predict and identify failures.
