Eight Ohio biomedical companies have received a total of $8 million in grants from the state’s Third Frontier technology support program.The grants, which awarded about $1 million to each firm, are aimed at accelerating the growth and development of Ohio’s burgeoning biomedical industry, which saw its number of jobs grow by 20 percent during the [...]

Plans for a new, small, state-backed investment fund that would’ve been operated by Cleveland-based venture development group JumpStart were shot down earlier this year by the state’s Third Frontier program.But JumpStart and the lead investor in the fund, which would be called Euclid Ventures, haven’t given up on the fund and are exploring options to [...]

The state of Ohio has unveiled plans for an 11-week summer competition that’s designed to attract and retain young entrepreneurs and help them set up businesses in the state.The program, called Ohio’s New Entrepreneur (ONE) Fund, calls for grants of $20,000 to 10 teams of up to five young people. During the competition, aspiring business [...]

Northeast Ohio’s largest angel investor group, North Coast Angel Fund, is nearing an $8 million close on its second fund.

Public-private venture investment group CincyTech plans to invest $3 million in Southwest Ohio startups this year. The vast majority of its portfolio companies are in the biomedical, information technology and alternative energy industries.

Ohio’s Third Frontier technology acceleration program has awarded $25 million to several early stage investment funds in the state. The grants come under two different Third Frontier programs, which are designed to funnel growth capital to young, promising technology companies through professionally managed investment funds.

Northwest Ohio venture and business development group Rocket Ventures is looking to invest about $8 million in early stage companies this year. The majority of those investment dollars are expected to go to startups in two industries — bioscience and alternative energy.

A company that was once the poster child for the joys of living and doing business in Ohio now may have become a cautionary tale about a weakness in the state’s much-celebrated Third Frontier program.

Most people in Ohio’s biomedical industry would’ve considered 2010 a good year if just one key thing happened — voters renewed the state’s $1.35 billion, 10-year Third Frontier program, which is designed to energize Ohio’s economy by investing in cutting-edge technology. It happened and heads up MedCity News’ list of the biggest highlights of the year for Ohio’s biomedical industry.

Early stage investment group North Coast Angel Fund is raising money for a second fund, having pulled in commitments for $800,000. In all likelihood, North Coast Angels are looking to raise $8 million for the group’s second fund.