State Funding Now Available to Support Technology Commercialization Growth

(COLUMBUS, Ohio) - The Ohio Department of Development today announced the opening of a new round of grant funding that advances technology commercialization across the state.

The Ohio Third Frontier, an initiative of the Department of Development, is seeking Request for Proposals (RFP) for phase 1 and phase 2 projects through the Technology Validation and Start-up Fund (TVSF).

The program aims to boost the state's economy through commercializing technologies invented by and developed at higher education institutions, nonprofit research institutions, and federal labs, as well as supporting startups with the licensing of their products.

"Ohio has always been a 'change-the-world' state where the boldest ideas are created," said Lydia Mihalik, director of the Department of Development and chair of the Ohio Third Frontier Commission. "We're not only standing by the institutions that support technological advancement and championing startups through this program-we're building pathways for Ohio's brightest minds to thrive here in the heart of innovation."

Phase 1 awards are intended for Ohio research institutions to help with the cost of viability testing and prototypes for new technologies. Awards can help demonstrate the commercial viability of a technology and help prepare a proof-of-concept for commercialization. Grants range from $200,000 to $1 million and require the institution to match the grant amount. Another funding option is for $100,000 requests that require the institution to hire an intern as part of the project instead of the cost-share match.

Phase 2 Start-up Fund awards are up to $200,000 for each project and target companies ready to move from Ohio research institutions to the marketplace. Awards support startups and young companies with the licensing and validation of products and technologies to help them move forward with the commercialization of their product.

Prospective applicants may submit written questions on the RFP through Jan. 31. Proposals are due by 4 p.m. Feb. 7. Awards are expected to be announced in April 2025.

Since 2012, the Ohio Third Frontier has awarded more than 300 TVSF grants worth nearly $57 million. The Department of Development recently announced $1.4 million in funding to support seven Ohio companies looking to expand their commercialization and research efforts in medical, military, and scientific technologies.

Companies receiving awards have gone on to have commercial success based on TVSF-supported technologies and often receive additional investments from Ohio Third Frontier's Pre-Seed Funds.

Awards focus on technology and tech-enabled products in advanced manufacturing, materials, biomedical and life sciences, energy, sensors, and software and information technology. To learn more and apply, visit the program webpage at Development.Ohio.gov/TVSF.

The Ohio Third Frontier works with innovative startup companies across the state, making Ohio the destination for technology entrepreneurs.

The Ohio Department of Development empowers communities to succeed by investing in Ohio's people, places, and businesses. Learn more about our work at development.ohio.gov.