Ohio Third Frontier is looking to fund grant proposals from innovators who want to commercialize their technologies.
The economic development initiative is accepting proposals for Phase 1 and 2 technology validation and startup fund grants until 2 p.m. on Feb. 9. Awards likely will be announced April, according to the Ohio Department of Development.
Ohio Third Frontier aims to boost the state’s economy by helping to commercialize technologies invented by and developed at higher education institutions, nonprofit research institutions and federal labs. The tech-based initiative also helps startups license technologies they can use to make products or offer services.
"At the heart of economic growth lies innovation," Lydia Mihalik, director of the Ohio Department of Development and chair of the Ohio Third Frontier Commission, said in a statement. "Through these investments, we’re fueling the journey of technology products" in Ohio, Mihalik said.
Phase 1 awards are intended for Ohio research institutions to help with the cost of viability testing and prototypes for new technologies. Grants range from $200,000 to $1 million and require the institution to match the grant amount.
Ohio Third Frontier also offers a $100,000 funding option that requires an institution to hire an intern as part of its project instead of matching the grant.
Phase 2 startup fund awards of up to $200,000 are made to companies ready to commercialize technologies from Ohio research institutions and move them to the marketplace.
Since 2012, Ohio Third Frontier has awarded more than 300 technology validation and startup fund grants worth more than $46 million, the development department said. To learn more or apply, visit the program's webpage.
