The Technology Concept Fund, LLC is a $1 million non-profit investment fund made possible through joint investment from The Ohio State University and Ohio Third Frontier.

The Technology Concept Fund provides critical investment capital at the earliest stage and specifically addressed technologies developed at Ohio State. TechColumbus manages the fund.

This risk capital can help entrepreneurs validate their ideas and technologies. Capital may be used for customer and market assessments, prototyping, and proof-of-concept. Funds may also be used to incorporate the business and to protect new technologies.

Typical Concept Fund investments take the form of convertible notes with a valuation cap that represent an underlying ownership stake in the business. Concept investments range from $25,000 to $100,000, supplemented by funds from the entrepreneur and co-investment partner(s), which TechColumbus may help to identify.

Investing in the earliest stage deals, the Technology Concept Fund is an accelerator and momentum builder. Technology Concept Fund is the first in a continuum of technology investment funds managed by TechColumbus.

We deploy the full complement of TechColumbus’ Acceleration Services and Expert Connections before and after funding to ensure the best opportunity for our portfolio companies  to achieve the critical milestones to prepare such startups for the next stage of funding.

Funding Parameters

TechColumbus will consider startups commercializing technology from Ohio State University. Companies will have a developed business concept within the software IT, life sciences, advanced materials, energy, or technology sectors.

Startups will have fully executed technology as licensed or option-to-license technology through the Technology Transfer Office of Ohio State University. In addition*, startups will:

  • Be a TechColumbus engaged client.
  • Operate in the 15-county region of Central Ohio at the time of funding.
  • Be led by a founding team of at least two founders with complimentary skill sets (i.e. business skills and technology skills).
  • Have plans for rapid growth that drives toward a future exit strategy.
  • Secure a co-investment from an angel fund, venture capital investor, founder, or other investor.
  • Use funds for product development, sales and marketing initiatives, and/or investing in management and partnership opportunities, based on an agreed budge matched to critical milestones.
*These are general expectations; at its discretion TechColumbus may waive one or more of these items.

Funding Process

TechColumbus and Ohio State’s Technology Commercialization Office (TCO) are working proactively to identify opportunities for the Technology Concept Fund.

The due diligence process includes collaboratively seeking input on every investment opportunity from multiple sources.

We have a strong pipeline of companies and are positioned to invest in more.

If you would like to learn more, reach out to us via the Get Started page.