In 2024, the Entrepreneurs’ Center (EC) helped 18 Ohio-based startups secure a total of $3.6 million in non-dilutive funding through the Ohio Third Frontier’s (OTF) Technology Validation and Start-up Fund (TVSF). This achievement highlights the EC’s commitment to supporting the commercialization of innovative technologies and empowering startups to bring groundbreaking ideas to market.
The Technology Validation and Start-up Fund (TVSF), launched in 2012, is designed to accelerate the commercialization of technologies developed by universities and research institutions. This program provides $200,000 reimbursable grants to startups that license these technologies and further develop them for market entry.
“2024 was a real growth year for us,” said Paul Jackson, EC’s VP of Strategic Programs. “Historically, the state averages 16 TVSF awards per year. In 2024 alone, EC supported 18 successful applications—an accomplishment that not only exceeds the average but also accounts for more than half of the total awards for the year.”
In 2024, the EC’s awardees include:
- January: The Science and Engineering Corps (The Corps) and Sensate Biosystems.
- April: Argos Advanced Solutions, CapV, Kalix, Lyceum, and Nabu Optical Systems.
- July: Advanced & Innovative Multifunctional Materials (AIMM), LLKD, Raider Technologies, and Shark Rescue Systems.
- October: Bowerbags, Dayton Photonics, Ignyte, BrandRank.AI, DEB Technologies, Astute Signals, and Galvanix.
Additionally, the EC assisted 11 more companies in submitting applications this past November, and the results for those awards will be announced in January 2025. Since 2021, EC has supported a full 40% of all TVSF awards in the State.
For years, the Dayton region has faced challenges in fostering a robust venture capital ecosystem. In response, the EC has developed significant expertise in leveraging alternative funding sources like TVSF to support local entrepreneurs. This skill set has become a hallmark of the EC’s approach and a driving force behind its success.
Looking ahead, the EC is optimistic about 2025. Building on the momentum from 2024, the team anticipates an even more impactful year of securing funding to advance lab-developed technologies into the marketplace. “Last year’s success demonstrates the strength of our programs and partnerships,” said Jackson. “We’re confident that 2025 will bring even greater success, further solidifying the Dayton region’s role as a hub for innovation and commercialization.”
The EC works with innovative entrepreneurs across Ohio to identify and pursue opportunities like TVSF. If you’ve identified a promising technology at a university, federal research lab, or non-profit research institute, the EC can help. With our expertise and guidance, you could access up to $200,000 in funding to propel your venture forward.
To learn more about how the EC can support your entrepreneurial journey, contact Paul Jackson ([email protected])
About Entrepreneurs’ Center
The Entrepreneurs’ Center (EC) is a modern venture development organization that powers progress and prosperity through entrepreneurship. Annually, the EC works with over 1,000 entrepreneurs to start and grow companies, create jobs, generate revenue, and attract investment. The EC empowers main street and technology businesses through complimentary professional services, including business planning, mentoring, training, networking, commercialization, and capital investment. The EC’s talented and experienced team of advisors, entrepreneurs-in-residence, and staff design and facilitate diverse, world-class business acceleration programs on behalf of corporations, higher education institutions, and government agencies, including the U.S. Department of Defense from their headquarters at The Hub Powered by PNC Bank in the historic Dayton Arcade. Learn more at EC Innovates.
About Ohio Third Frontier
Managed by the Ohio Department of Development, Ohio Third Frontier (OTF) is an internationally recognized $2.1 billion economic development initiative supporting technology entrepreneurship and growing jobs across the state of Ohio, positively changing the trajectory of its economy. Through a statewide robust network of resources, entrepreneurs with compelling business models for near-term market opportunities based on technology and tech-enabled products and services have access to the technology, business assistance, capital, and talent to turn great ideas into thriving companies. OTF is driving this expanding, vibrant community of high-growth technology companies and making Ohio a top destination for tech entrepreneurs. Learn more at Ohio Third Frontier.