Cleveland, Cincinnati and Columbus accelerators that invest in healthcare startups are recipients of some of the $760,000 in new grant funds approved by the Ohio Third Frontier Commission this week.
Shaker LaunchHouse in Shaker Heights will receive $200,000, Cincinnati initiative Innov8 for Health will receive $160,000 and 10xelerator in Columbus will get $200,000 to fund teams of entrepreneurs through Third Frontier’s Ohio’s New Entrepreneurs Fund. The program provides entrepreneurs with $20,000 each to develop their products, plus access to business development resources and mentors, according to Cincinnati.com.
LaunchHouse is a tech-focused accelerator that has funded health technology companies including Intelligent Mobile Support and Advanced Medical Innovations, and medical device startups LifeServe Innovations and OsteoPlastics.
Columbus’ 10xelerator, part of Ohio State University’s Fisher College of Business, has just started working with its second class of 10 startups. One of the companies it worked with last summer, LyoGo LLC, is developing a novel drug delivery system for freeze-dried drugs.
Main Street Ventures in Cincinnati’s design and marketing accelerator Brandery also won funds.