New businesses that use the Ohio University Innovation Center will have access to new technology and other facilities through a grant from the state.
Ohio's Controlling Board authorized a $50,000 Thomas Edison Program grant to the Innovation Center, which helps new businesses grow, according to a news release from State Senator Jimmy Stewart's office.
The purpose of this grant is to attract more clients and to increase the amount of equipment for biotechnology companies
therapeutic drug companies and others performing research while trying to add to our already renovated labs said Jennifer Simon, director of the Innovation Center.
The Innovation Center houses 13 companies, including information technology companies, energy companies and transportation technology companies, Simon said.
The center provides office space, entrepreneurial coaching, lab space and workshops for its member businesses, according to the center's website.
It's a pretty big deal to have a stamp of approval from the Thomas Edison Program. We attribute a lot of our success to them Simon said. Our companies are amazing.
The money will be implemented toward new equipment and a part-time lab director in order to keep up with equipment and provide training to interested entrepreneurs, she said.
Because it was a supplemental request
we felt we could really use the money to attract biotech companies and help the ones that are already here with new equipment
Simon said. We want to help anyone doing Ohio University research who are ready to start a company and make them aware we have the facilities available to them.
Stewart, R-Albany, talked about how the money will help the center prosper.
High-tech equipment will become more available
Stewart said, adding that the grant is part of a strategy to attract new biotechnology companies to the southern Ohio region.
The Innovation Center has been receiving grants for the past three years, which in part go toward renovating labs.
The technological division of the state of Ohio had remaining funds and wanted to put them to work
so they were able to invest additional dollars toward the center
Simon said. We received $50
000 for the 2008 year
$50
000 for the 2009 year along with an additional $100
