Officials said the funds will be invested in promising Dayton-area technology businesses at the early stages of development and commercialization. In turn, these companies are expected to create jobs and generate economic growth for the region.
The state’s contribution stipulates a 100-percent cash match from local organizations and “angel” investors. Officials said the Accelerant team has already raised $6.5 million in private investment from Dayton investors, which is more than double the state’s requirement.
Accelerant is a private-public, seed-stage venture group whose mission is to strengthen the region’s economy by directing talent and capital into scalable technology companies in western Ohio.
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