The Ohio Third Frontier Commission recently approved two Dayton region startups to receive a section of technology funding amid other companies across the state. Funding comes from the 30th round of the Technology Validation and Start-up Fund (TVSF).
On Tuesday the commission approved 11 Ohio companies to receive a combined $3.6 million in TVSF grants. Funding helps entrepreneurs develop innovative products and move them toward the marketplace.
“Ohio’s research institutions and entrepreneurs are on the cutting edge of technological advancements, and my administration is proud to support this important work,” said Ohio Gov. Mike DeWine. “We are investing in promising research and innovation to build our economy and improve the quality of life for Ohioans.”
In this TVSF funding round, 17 applicants requested a total of $4.35 million in grant funding. Twelve were recommended for approval with all being approved except one, tabled for later discussion.
Here is a rundown of Dayton’s allocation, accounting for only 5.5% of the total dole out:
- Bowerbags LLC ($100,000) – The Dayton startup will use funding for the development and commercialization of a modular carrying solution for the military and first responders to help them reduce injuries caused by heavy weight loads carried on the job. The company said the need is ever rising with more women entering the first responder and military fields. Eventually, the startup may move into more recreational usage such as backpacking capabilities.
- Hyphen Innovations ($100,000) – The Beavercreek startup will use funding for the development and commercialization of a simplified 3D printing of complex parts with a development process that requires fewer manufacturing procedures and less structural validation for dynamic systems.
The Air Force Research Laboratory was the licensing institution for both startups. The lab's third applicant did not receive funding. A University of Dayton applicant was also denied funding in this round.
Both Bowerbags LLC and Hyphen Innovations applied for Phase 2 TVSF grants alongside five others, which typically maxes at $100,000 with no cost share from the institution. The remaining four startups, approved for grants, applied for Phase 1 funding which provides awards up to $1 million but must be matched with cash cost share from the institution.
“Innovation is in Ohio’s DNA, and these grants will enable entrepreneurs to push innovative ideas forward. These technology startups are building the companies and jobs of tomorrow,” said Lydia Mihalik, director of the Ohio Department of Development and chair of the Ohio Third Frontier Commission.
![Mihalik, Lydia[2]](https://media.bizj.us/view/img/11215439/mihalik-lydia2*540xx2250-3000-75-0.jpg)
The 31st TVSF funding round will open for applications on Oct. 21 with award decisions to be announced in January 2023.
Previous regional TVSF grant recipient Battle Sight Technologies has seen great success in the last few years. The Dayton startup is a leading rapid product commercialization firm focused on dual use technologies supporting combat, first responder, emergency management and commercial personnel.
Here is a look at the two innovations Battle Sight has developed through TVSF grants:
- CrayTac – A writing appliance/tactical crayon designed to ensure effective communication in no-light or low-light conditions. This Phase 2 funded innovation was awarded a TVSF grant in 2018 and is now a fully commercialized product.
- ColdFIRE – A photoluminescent infrared ceramic powder incorporated into various form factors to provide covert signaling capabilities for location and rescue of isolated personnel and friend/foe identification. This Phase 2 funded innovation was awarded a TVSF grant in 2021 and is currently moving toward production and commercialization.
The Ohio Third Frontier Technology Validation and Start-up Fund (TVSF) provides grants to Ohio research institutions to select, support and advance certain technology projects toward commercialization.
The TVSF fund also provides grants to Ohio companies aiming to license institution-owned technologies to accelerate commercialization through activities such as market research and further prototyping. This helps companies raise funds and get the licensed technology to the marketplace faster.
