The Ohio Third Frontier inititative fosters the creation of new tech and new technology industries in Ohio.
The Ohio Third Frontier is a $2.3-billion grant initiative dedicated to creating new technology-based products, companies, industries and jobs in the state of Ohio. According to the Ohio Third Frontier website, the OTF is building a system that supports the efficient growth of great tech-based ideas and products from inception to marketplace.
History and Governance
Since 2002, the Ohio Third Frontier has championed innovation in technology, investing in a future of tech-focused economic growth in Ohio. In May 2010, the program was extended through 2015, based on the premise that technology and innovation will lead to economic prosperity for Ohioans.
The Ohio Third Frontier Commission administers OTF programs. The nine-person commission includes three state officials and six regional Governor-appointed representatives. They are responsible for the distribution of funds appropriated by the Ohio General Assembly for Ohio Third Frontier activities. An advisory board, comprised of 16 representatives from industry, academia and government, provides expert guidance to the commission.
Currently, OTF grant programs target "applied research and commercialization, entrepreneurial assistance, early-stage capital formation, and the expansion of a skilled talent pool," according to the Ohio Third Frontier website.
Strategic Goals
In major ways, the Ohio Third Frontier facilitates the innovation and growth of Ohio's technology industries and businesses. According to the OTF website, strategic goals include increasing access to early-stage equity investment capital; improving the entrepreneurial environment; improving research and development collaborations between academia, industry and business; driving employment growth in Ohio's technology sector; and attracting tech companies to Ohio.
Award Process
For each fiscal year, the Ohio Third Frontier Advisory Board and Commission develop a program plan and budget. All Ohio Third Frontier funds awards must be competitive, as required by the state legislature. Most Ohio Third Frontier funds are awarded in the form of grants.
Following a timetable set at the start of each fiscal year, Requests For Proposals are released by the Ohio Department of Development, and posted on the Ohio Third Frontier website. Independent experts review proposal submissions received for each program based on RFP evaluation criteria. After reviewers forward their recommendations to the Ohio Third Frontier Commission, the commission makes the award decisions. Most Ohio Third Frontier awards also require approval by the state's Controlling Board.
Grant Programs
Ohio Third Frontier Grant Programs are organized into four major categories: cluster development, entrepreneurial, talent, and research and commercialization. All programs are not represented in every RFP.
Cluster development refers to projects that together can develop a critical mass of companies and technological expertise in certain key industries. There are 10 sub-categories of cluster development, such as R&D support for advanced energy, advanced materials, biomedical programs, fuel cell programs and photovoltaic programs. Entrepreneurial grants include funds to develop entrepreneurial services and capital for newer tech companies. Talent grants provide Ohio businesses with technically trained students in targeted areas for internships. Research and commercialization grants have five sub-categories, including a program to attract research talent to Ohio academic institutions, one to advance applied research projects in developing new products (three-year time line), and a program to build world-class R&D technology centers to advance Ohio commercialization goals.
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