The Ohio Third Frontier Commission recently approved $5.34 million to help move new technologies and innovative products into the marketplace.
One company receiving an award is based here in Delaware County.
“Advancing these new ideas and solutions continues Ohio’s great history of innovation,” said Lydia L. Mihalik, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission. “Innovation is in our DNA, and these are the technologies and companies that will keep Ohio moving forward.”
The Ohio Third Frontier Technology Validation and Start-up Fund (TVSF) provides grants to Ohio institutions of higher education and other nonprofit research institutions. The funding is for testing and prototyping to demonstrate that technologies are commercially viable, with the goal of validating and licensing them to companies.
Companies aiming to license institution-owned technologies can also receive funding to accelerate commercialization through activities such as market research and further prototyping. This helps companies either raise funds or get the licensed technology to the marketplace faster.
OuMuam, LLC, located in Powell, was awarded $100,000 for the development and commercialization of a narrow pipeline inspection robotics system.
Source: Ohio Development Services Agency; Image by Bruno /Germany from Pixabay
