Central Ohio Receives $2.5M from Third Frontier to Continue Support of Innovation in the Region

TechColumbus and Ohio TechAngels have been awarded $2.5 million from the Ohio Third Frontier Success and Pre-Seed Fund program which will be used to continue providing critical pre-seed capital and business coaching services to nurture the growth of early stage technology-based companies in Central Ohio. 

Ohio TechAngels was awarded $1.6 million to launch the Ohio TechAngels Fund III project.  OTAF III will enable continued funding for Ohio’s most promising technology companies, and through participation of fund members, provide the mentoring necessary to help these companies perform to their potential, thus creating jobs in Ohio and attracting follow-on capital. 

TechColumbus will receive $900,000 for its Pre-See Fund II project which will provide pre-seed capital to late imagining, incubating and early demonstrating phase technology-based startups in the 15-county Central Ohio region, thus bridging the period between limited founder resources run out and angel investors and venture capitalists are willing to invest. 

Five other organizations across the state also received awards.  Total awards were $8 million.

For more details, see the press release from the ODOD.