A Note From The Ohio Development Services Agency and the Ohio Third Frontier
As a major financial sponsor of the Northeast Ohio entrepreneurial ecosystem, the Ohio Development Services Agency and the Ohio Third Frontier would like to welcome you to the network and share our background.
The Ohio Third Frontier is a $2.1 billion initiative launched in 2002 to grow Ohio’s innovation economy and create high-paying technology jobs. Its focus is on supporting young technology companies like yours with exceptional growth potential. The Ohio Third Frontier currently offers the following programs:
- Entrepreneurial Signature Program, which supports a network of resources around the state for young technology companies. Examples of resources available include:
- Mentorship by seasoned entrepreneurs and industry professionals
- Access to investors
- Help with business planning and investment pitch preparation
- Business support including legal, tax and accounting services
- Assistance developing intellectual property and marketing/sales strategies
- Help recruiting talent
- Access to state-of-the-art incubator workspaces
- Three-month business accelerators
- Pre-Seed Fund Capitalization Program, which provides capital to the top Ohio early-stage funds that invest in promising Ohio technology companies. Investments typically start at $250,000. A related Seed+ program is anticipated to launch in 2015 to support investments in early-stage companies later in their development.
- Commercial Acceleration Loan Fund, which provides loans in the range of $500,000 to $2,500,000 to help growing companies that have professional investment backing address the technical and cost barriers to commercializing a new product.
- Technology Validation & Start-Up Fund, which includes $100,000 grants to help start-up companies commercialize technologies developed by Ohio universities and other research institutions.
Your ongoing success is a key priority of the Ohio Third Frontier. To follow your advances and understand your needs moving forward, you will periodically be reporting on progress and key metrics. Since 2009, the companies supported by the Entrepreneurial Signature Program and the Pre-Seed Fund Capitalization Program have created over 4000 jobs, generated over $1.5 billion in product sales and raised over $1.3 billion in professional investment capital.
Please follow us on TechOhio for stories of entrepreneurial successes. We may reach out to tell your story, and we also welcome your story ideas!
We wish you every success in your exciting entrepreneurial journey, and in continuing to make Ohio a thriving, vibrant entrepreneurial state!