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Loans to Ohio Technology Startups to Promote Early-Stage Business Growth and Economic Development

Innovation Fund Northeast Ohio Grant


GrantWatch ID#

Funding Source
Array ( )

Geographic Focus
USA: Ohio

Important Dates
Deadline: 12/15/23 Save

Grant Description
Loans to Ohio technology startups to assist entrepreneurs in developing new technologies and validating their businesses. Applicants must attend an informational webinar and submit preliminary financial information prior to applying. Funding is intended to promote economic and workforce development for emerging companies.

Seed funding for startups is designed for early-stage companies throughout the state of Ohio that have already passed the family and friends capital-raising stage but have not yet received investment from outside firms. The Foundation provides two awards based on where a business stands with its technology offering.

"A" Awards

Providing up to $50,000, the “A” Awards are provided to late imagining-stage opportunities. Awards at this level are used to “prove the technology” through finalizing the prototype, conducting additional research and testing, and filing a patent. A Award recipients are encouraged to return to apply for a “B” Award once they have successfully fulfilled the business and education requirements outlined in their signed agreement.

  • Funding Option A:
    • Designed for proof-of-concept
    • Helps validate new technologies
    • For prototyping, trials, and more
    • Must be matched dollar-for-dollar

"B" Awards

“B” Awards are provided to incubating phase companies. Awards at this level are used to “prove the business concept” through development and refinement of the business plan, market testing, acquisition of market prospects, hiring of key personnel, or other tasks.

  • Funding Option B:
    • For testing business models around tech
    • Assists in new customer acquisition
    • Helps with new hires and market testing
    • Must be matched dollar-for-dollar


Additional Eligibility Criteria
Award Requirements:
- Your business must be located in and remain in Ohio
- You must be developing new technology in high-growth industries
- Your business/ technology must be in the proof-of-concept/ startup phase
- You must provide an educational experience for a student and/or faculty
- You must agree to mentoring through GLIDE and/or a regional partner.
- You must provide a 1:1 dollar match for your award
- You must agree to the Convertible Debt instrument

Pre-Proposal Conference
- 9:00 a.m. on November 9, 2023
- Future Session (TBD)

The first step in applying is to attend a free Innovation Fund 101 Information Session conducted by the team. This is required in order to qualify for funding.

Information sessions typically last up to one hour and detail the background of the Fund, its goals as an organization, impact, awards, and the timeline and process for funding. All sessions are being conducted via online meetings for the foreseeable future.

For additional information, and to register, see:

Pre-Application Information
- Open Applications Start: 10/01/2023
- Financial Requirement Due: 11/30/2023
- Next Funding Cycle Starts: 01/01/2024

Innovation Fund has developed a 5-step process for helping technology startups apply for seed funding. Before applying, however, you must attend an information session hosted by the team that covers the process.

Fund Details:


Estimated Size of Grant
- Funding Option A: Awards funding up to $50,000
- Funding Option B: Awards funding up to $150,000

Contact Information
Apply Online:

Innovation Fund America
151 Innovation Drive, Suite 210
Elyria, OH 44035
(440) 366-4121

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