Ohio Technology Validation Start-Up Fund
The Ohio Third Frontier Technology Validation and Start-up Fund (TVSF) helps move technologies developed at eligible Ohio research institutions toward the market. The competitive program supports technology validation and the creation or growth of Ohio startups commercializing institution-owned technologies.
This is not a general small-business grant. Applicants must meet the requirements of one of the program’s two funding phases.
Program Overview
The Technology Validation and Start-up Fund is administered by the Ohio Department of Development through Ohio Third Frontier.
The program is designed to create economic growth by helping promising technologies move beyond the research environment and into Ohio startup companies.
Funding opportunities focus on technology and technology-enabled products in areas such as:
- Advanced manufacturing
- Advanced materials
- Biomedical and life sciences
- Energy
- Sensors
- Software and information technology
The program uses two separate funding mechanisms:
- Phase 1: Technology Validation supports eligible research institutions working to validate institution-owned technologies.
- Phase 2: Start-up Fund supports eligible Ohio companies commercializing technologies licensed from those institutions.
Each phase has its own eligibility requirements and application process. Award amounts, deadlines and allowable expenses are established in the request for proposals issued for each funding round.
Phase 1: Technology Validation
Phase 1 supports eligible Ohio research institutions working to generate the evidence needed to determine whether an institution-owned technology has commercial potential.
Potential validation activities may include:
- Viability testing
- Prototype development
- Independent technical validation
- Demonstration of a critical capability
- Assessment of potential failure points
- Work needed to prepare the technology for licensing
Phase 1 is intended for protected, unlicensed technologies that have progressed beyond basic research. The proposed work should address a defined validation need that could improve the technology’s commercial readiness or its ability to support an Ohio startup.
Individual researchers and startup companies do not apply directly for Phase 1 funding. Applications must be submitted and administered by an eligible Ohio institution.
Phase 2: Start-up Fund
Phase 2 supports eligible Ohio startups and young companies commercializing validated technology from an Ohio institution of higher education, nonprofit research institution or federal laboratory.
The company must be pursuing a licensing relationship with the institution that owns the technology. A general connection with a university is not sufficient. The proposed business must be built around institution-owned technology that meets the current program requirements.
Competitive applicants should be able to demonstrate:
- A protected technology with supporting technical evidence
- A defined market opportunity
- A credible business model
- An appropriate licensing pathway
- A capable management and technical team
- A practical project plan
- Meaningful commercialization milestones
- A plan for continued company growth in Ohio
Phase 2 funding is intended to help a company complete work that moves the licensed technology closer to the market. Allowable activities and company eligibility requirements vary by funding round.
Companies should review the current request for proposals before investing substantial time in an application.
For University of Toledo Researchers
University researchers interested in applying should begin by contacting Technology Transfer. The office can help determine whether the technology meets institutional and program requirements.
When appropriate, the Business Incubator can help evaluate the market opportunity, gather customer feedback and identify the commercial evidence needed to support future startup formation.
How the Business Incubator Helps
The University of Toledo Business Incubator helps eligible clients evaluate the opportunity and prepare the business case surrounding a Technology Validation and Start-up Fund application.
Support may include:
- Assessing whether the company and technology appear to fit the program
- Clarifying the customer problem and market opportunity
- Reviewing customer-discovery findings
- Strengthening the proposed business model
- Developing commercialization milestones
- Reviewing financial assumptions
- Identifying gaps within the management team
- Providing feedback on business-focused application materials
- Preparing company representatives for reviewer questions
- Coordinating with Technology Transfer when University-owned intellectual property is involved
Business Incubator assistance may continue after an award as the company works toward its commercialization milestones and prepares for future funding opportunities.
The Business Incubator does not administer the Technology Validation and Start-up Fund or determine whether an applicant is eligible. Funding decisions are made by Ohio Third Frontier. Incubator assistance does not guarantee an award.
A competitive application requires more than completing a form. Companies need a clear licensing pathway and evidence supporting the commercial opportunity.
If you are considering a future funding round, contact the Business Incubator early. Our team can help you evaluate your readiness and identify work that should be completed before applying.