TechColumbus, TechAngel fund win 3rd Frontier grants - Business First of Columbus

TechColumbus, TechAngel fund win 3rd Frontier grants - Business First of Columbus

An $11 million round of Third Frontier funding means more than $1 million in the hands of two Central Ohio venture capital funds.

The Ohio Third Frontier Commission this week approved grants through its Pre-Seed Fund Initiative and Entrepreneurial Signature Program to six organizations in the state, most of which are in northeast Ohio. The funding, which requires final approval from the state Controlling Board, is aimed at helping Ohio technology startups with early-stage capital.

Third Frontier dollars headed to Central Ohio are going to:

• The TechColumbus incubator, which was awarded a $500,000 grant for its Pre-Seed Fund III. That fund funnels capital to early- and late-stage technology startups in Franklin and 14 nearby counties.

• Ohio TechAngel Fund III LLC, cleared for $825,000 for Ohio companies in the late incubation and demonstration phase. The fund has told the state it’s focusing investments particularly on health-care and information technology companies.

The Third Frontier program has created or commercialized more than 600 companies and attracted nearly $5 billion in private investment since its launch in 2002.

Read more: TechColumbus, TechAngel fund win 3rd Frontier grants - Business First of Columbus