Innovations with ties to The Ohio State University will get a financial boost from the new Technology Concept Fund, LLC. The million-dollar fund includes investments from Ohio State and Ohio Third Frontier. The Technology Concept Fund will be managed by TechColumbus.
“The Technology Concept Fund will provide critical investment capital at the earliest stage and is specifically for Ohio State innovations,” said Tom Walker, TechColumbus CEO. “This fund will be an accelerator for investors and entrepreneurs who have formed companies around technologies licensed from Ohio State.”
Tech 'for the good of society'
Companies eligible for investment will have a fully executed license or an option to license the technology from Ohio State and will be clients of TechColumbus. Industry focus includes advanced materials, alternative energy, information technology and life sciences.
“The researchers at Ohio State are discovering and developing technologies that can have a significant impact on the world around us,” said Tim Wright, vice president of technology commercialization for Ohio State. “This fund will provide the essential capital support needed to advance these technologies to the next stage and ultimately move them to the market for the good of society.”