The Innovation Fund, founded by the Lorain County Community College Foundation in 2007, awards early-stage capital to technology-based companies in Northeast Ohio to help them validate technologies and business concepts. Funding awards are up to $100,000 and are intended to fill capital needs before companies can attract angel and venture funding. In its latest cycle the fund awarded $400,000 to seven startups—four $25,000 awards and three $100,000 awards—to companies including Campus Shift, CellBank Technologies, Quixby, ScoreFeeder, TIP Imaging, via680, and Zuga Medical. Funds come from Ohio Third Frontier combined with matching support and contributions from a network of partners such as the University of Akron, Cleveland State University, GLIDE, JumpStart, and others. Since its 2007 inception the Innovation Fund has made 97 awards to 80 companies totaling $5.675 million. The companies it has supported have attracted more than $62 million in follow-on investments, created nearly 170 new jobs, and provided over 150 student internships.

Total raised

$0M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2012