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Ohio Third Frontier Commission Awards Money to NE Ohio Biomed Companies

Thursday, June 24, 2010

Excerpt of story provided by Crain's Cleveland Business
Written by Chuck Soder

The big winners during the Ohio Third Frontier Commission's Wednesday meeting were biomedical companies, particularly those focused on imaging, as well as venture development group JumpStart Inc. and interns across the state.

The commission awarded about $7 million to biomedical companies in Northeast Ohio and another $1.2 million to JumpStart. The group also voted to increase the size of its internship program to about $3 million for the fiscal year starting July 1, which is about double what the program received in past years, said Norm Chagnon, executive director of the Third Frontier Commission...

...JumpStart, which assists and invests in young technology companies, received two awards. The Cleveland nonprofit will use a $865,000 grant to provide entrepreneurial services to startups in Northeast Ohio, working with several area incubators, and it will receive $300,000 for operations expenses, including the hiring of two “entrepreneurs in residence” who specialize in advanced energy.

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