Updated Wed, Oct 24, 2012 11:23 am
TechGROWTH Ohio, Ohio University's Third Frontier firm, will soon be able to do some considerable investment work in Southeastern Ohio thanks to a new $3 million award they will be receiving from the state of Ohio.
TechGROWTH is a part of the state's Third Frontier program, a funding competition for firms investing in innovation around the state.
Executive Director Lynn Gellermann praised the initiative, calling it "the footprint of the Third Frontier program in Ohio."
According to an OU news release, TechGROWTH has invested in 10 companies in its 20-county service area, providing smaller "Growth Grants" to area start-ups.
The group helped to establish the East Central Ohio Tech Angel Fund (ECOTAF), a rurally-focused investment group in the area.
"TechGROWTH's capacity to guide investors and entrepreneurs through the early stages of company formation creates viable investment opportunities for our Angel fund and individual members," said Athens ECOTAF member Chris Gerig.
The group was originally organized by Ohio University's Voinovich School of Leadership in Partnership with the Edison Biotechnology Institute, Adena Ventures, and Ohio State University's South Centers.