The Third Frontier is the state’s $2.3 billion initiative to boost Ohio’s economy through investments in innovation and technology.
The Dayton Daily News reported in June 2012 that the Third Frontier was planning to install new programs as part of a shift in strategy that includes a greater emphasis on loans and short-term results.
The new programs:
- The Commercial Acceleration Loan Fund offers Ohio technology companies loans to assist in developing products and services where they may otherwise have difficulty securing funding because of risks associated with developing those technologies. Loan amounts range from $500,000 to $2.5 million.
- The Technology and Commercialization Center program invests in new technologies with the goal of creating companies and jobs while helping businesses attract capital. Centers will commercialize research from universities, medical centers or nonprofit institutions. The program offers up to $25 million to create a center with the expectation that it will be self-sustaining after four years.
- The Technology Asset Grant supports shared infrastructure projects needed to develop new technologies. Program funding can go toward facilities and/or equipment when at least two Ohio companies or a federal procurement agency believes it is critical to commercialize technology. The program offers up to $5 million per project for up to three years.
Officials said requests for proposals were issued in May and can be submitted at any time to the Third Frontier.
In Other News
1
Kettering to get Chilli’s Wings & Fish restaurant, two other businesses...
2
Elsa’s chain closes one of its Dayton-area restaurants
3
Green Farm Juicery opens in West Chester: Owners say the overall...
4
Helicopters and pyrotechnics: Expect noise as 178th trains this weekend
5
New local practice among growing trend of independent doctors who don’t...
About the Author