OHIO — Ohio has a plan to help tech start-ups turn their ideas into reality, according to a spokesperson from the Ohio Department of Development.
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Ohio Third Frontier’s Technology Validation and Start-up Fund (TVSF) is now accepting applications for potential funding.
TVSF hopes to improve Ohio’s economy by commercializing technologies that are invented by and developed in-state.
“This program takes groundbreaking research and creates tangible products, we are turning the dreams of Ohio’s entrepreneurs into market-ready products that shape the future, here in the heart of innovation,” Director of the Ohio Department of Development and chair of the Ohio Third Frontier Commission Lydia Mihalik said.
Those with projects wanting to apply for the funding should be focused on technologies in advanced manufacturing, advanced materials, biomedical and life sciences, energy, software, and information technology, the spokesperson said.
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The technologies need to be in the prototype stage and have intellectual property protection to be considered.
Those who apply and are awarded could receive up to $200,000 for each project, which is an increase from previous funding rounds.
Proposals are due by 2 p.m., Friday, Nov. 3 and awards for this round are expected to be distributed in January 2024.