New Albany Again Offers Support to TechColumbus

New Albany Village Council on Oct. 19 passed a resolution to give TechColumbus $100,000 a year for the next two years for its "entrepreneurial signature program."

Council voted unanimously, with member Colleen Briscoe absent.

TechColumbus is applying for a grant through the Ohio Department of Development's Third Frontier program to continue its TechStart program, which provides companies with "start-up mentoring and consulting, business plan development, a strong pathway to capital investment, marketing assistance, and affordable, high-end office, meeting, and lab facilities," according to TechColumbus' website. The Third Frontier program is a voter-approved economic development initiative that provides money to technological industries.

Jennifer Chrysler, New Albany's community development director, said the village and the city of Dublin previously gave TechColumbus $250,000 for three years for its "entrepreneurial signature program." Their efforts supported the entire northeast quadrant of the region, providing assistance to 150 companies and funds for 14 starting companies, she said.

Chrysler said the village is contributing less money this time because of the economy and several new partners supporting TechColumbus. But she also praised the work of TechColumbus and said the village wants to continue the partnership.

TechColumbus must raise $3.5-million to match dollar for dollar the $3.5-million grant for which it is applying. The organization is looking for support from various municipalities and private investors, according to Will Indest, vice president of venture development for TechColumbus.

TechColumbus planned to submit its application for the grant by Oct. 22, Indest said.