Central Ohio Gains National Exposure as Hotbed for Technology Startups

A recent article in the Wall Street Journal explored the growing trend for technology startups to launch in communities such as Central and Northeast Ohio, as well as areas such as Kalamazoo, Michigan.  Such communities are offering increasing grant money and tax incentives to startups just as traditional venture-capital hotspots, such as the Silicon Valley and Boston, are experiencing a pullback in venture lending.  These communities are also bolstering their entrepreneurial cultures through programming and special services directed at the innovation economy.

The article cited Dublin-based Cardiox Corp. as an example of a company that might have previously been launched on the West Coast, but because of current economic conditions and programs in place within Central Ohio, is being headquartered here.  Cardiox founder, Phil Eggers, has previously founded five other medical technology companies which he subsequently moved to the West Coast for increased access to capital and resources.  However Eggers says he knew Ohio had stepped up its commitment to technology development and he was happy he didn’t have to “abandon his roots” to see his most recent company grow.  Cardiox received a commitment for $500,000 in funding from TechColumbus’ Regional Commercialization Fund and is also currently seeking other funding through state sources such as the Global Cardiovascular Innovation Center, a Third Frontier initiative to establish the state’s preeminence in cardiovascular technology.    

Read the full story as reported in the WSJ.