Each year, up to 12 of the most promising ideas originating in the Central region will be awarded a technology grant of up to $50,000 each. Each applicant will be asked to fill out an executive summary of his/her idea for consideration. 

Raw ideas are often research intensive, and investigators and entrepreneurs lack funding to investigate commercial potential during the earliest commercialization stage, the imagining stage.  Knowledge of commercial potential could result in a change in or expansion or redirection of research plans or parallel activities to include commercially important avenues, including startup formation and licensing to established companies.

TechGenesis grant funding will are available to researchers, inventors, and entrepreneurs from universities, research hospitals, and community sources.

Technology grants will be focused primarily (but not exclusively) in the areas of IT and Healthcare Innovations, and will provide resources to specifically address the commercial applicability and potential of an idea. These grants will help to increase fundable deal flow, drawing more innovators into the commercialization process and providing a source of deal flow for the region’s pre-seed funds.

Technology Grant Parameters

Grant funding must be used for commercialization activities that assist inventors and TechColumbus in evaluating the probable success of a related tech startup, and forming it.  Funds must be used for validation activities that lead to the next step in the commercialization path, such as alternate market(s) identification or definition, market research, prototyping, IP analysis and/or development, and regulatory research.

The grantee should also have a defendable plan detailing next funding opportunities at the completion of the grant.  Such follow-on funding activities can include other funding sources (TechColumbus Pre-Seed Fund, Ohio TechAngels) or other sources of capital.

Grant Funding Process

The Deal Flow Assessment Committee will make TechGenesis funding decision 4 times per year.

The top six ESP clients will be invited to submit a more detailed application, which is based upon a scaled-down business plan.  These six applicants will then present to the Deal Flow Assessment Committee, which will award 2 – 3 grants per quarter.

Following an award, an agreement will be negotiated between TechColumbus and the grantee detailing uses of the grant, milestones, and expected outcomes.  A TechColumbus project manager will work with each grantee to monitor the grant’s progress and provide advice and access to other resources to assist the grantee to reach the agreed upon objectives.

Grant Application

TechGenesis technology  grants will be awarded four times per year by the TechColumbus Deal Flow Assessment Committee.  Companies and clients interested in engaging in the process should complete an application, including an executive summary, on the TechColumbus website. Note, however, that especially at this early stage, “I don’t know” is an acceptable answer to the some of the questions posed.