The Launch Dayton partner organization of WSARC was awarded a $200,000 Technology Validation and Startup Fund grant from Ohio Third Frontier in July to launch this new initiative, WSARC said. The effort is also backed by $330,000 from the Economic Development Administration’s i6 program.
WSARC’s Launch Dayton efforts are also supported by the Entrepreneurial Services Provider program, administered locally by The Entrepreneurs Center in Dayton.
“WSARC is thrilled to create the region’s newest startup fund to push the region’s innovation to market,” Dennis Andersh, WSARC chief executive, said in the announcement.
Governed by strict regulatory standards, medical technology can take longer than other industries to push products to markets.
While the Dayton region is rich in R&D institutions, entrepreneurs who want to get those technologies out of the labs and into the healthcare system often lack necessary resources to build and test prototypes, WSARC said.
“The MedTech Launch Fund will provide gap funding to help regional medtech entrepreneurs build the prototypes they need to seek angel and pre-seed investment,” the research corporation said.
Apply for the first round of funding at https://gust.com/programs/medtech-launch-fund.