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May 14, 2024 | Tom Ballard

Ohio Third Frontier Commission approves $2.65 million in grants

Two research institutions will receive grant funding to support further validation of early stage technologies.

The Ohio Third Frontier Commission has approved $2.65 million in grants to support the research and licensing of new technologies.

Two research institutions will receive grant funding to support further validation of early stage technologies, and 12 companies will receive grant funding to support further development and commercialization of licensed technologies.

The “Ohio Third Frontier Technology Validation and Start-up Fund” 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.

“The funding approved by the Ohio Third Frontier Commission today will help create innovative and momentous improvements in healthcare, education, and communication industries,” said Lydia Mihalik, Director of the Department of Development. “These technologies have the potential to change lives and alter the future of their industries for the better.”

The research institutions receiving grants were:

  • The University of Akron Research Foundation was awarded $100,000 to support the University of Akron Research Foundation Spark Fund, which will help validate novel technologies for commercialization purposes and provide structured programs to move ideas from concept to reality. The funding will support multiple projects under the grant.
  • The Research Institute at Nationwide Children’s Hospital was awarded $200,000 to support its Technology Development Fund. The fund is designed to advance inventions and intellectual property along the commercialization pathway to make early inventions more attractive and less risky to potential licensing and/or business partners.

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