Technology Commercialization

Lucas County's thinking about issues related to technology-based economic development and how Northwest Ohio can play a catalytic role in this development dates back to the early 1980s. The state invested in the Thomas Edison Program in 1984, creating the Edison Technology Centers and Edison Incubators. The state's second major endeavor, nearly 20 years later, was to put in place a comprehensive set of programs to support world-class research in industry-aligned platforms, to encourage collaborative research and commercialization activities, and to spur new technology company formation. This ten-year, $1.6 billion set of programs is known as the Ohio Third Frontier. In addition, the State introduced two programs to increase the availability of early-stage risk capital
in Ohio. The first, in 1996,  was the Technology Investment Tax Credit program, which provides tax-based incentives for risk capital investments in technology startups. The second, in 2003, was the Ohio Capital Fund overseen by the Ohio Venture Capital Authority. This program was designed to bring more venture capital firms to Ohio and to encourage more venture capital investments in
Ohio companies.

The Regional Growth Partnership-Launch Program is a virtual business incubation program for entrepreneurs who possess revolutionary technologies. The Launch Program accelerates technology commercialization by preparing high-tech start-up companies for funding, including sales revenue, grants, loans and investment.

Rocket Ventures is the place to go in Northwest Ohio for entrepreneurs looking for ways to transform an innovative idea into a relevant technology business venture. Serving the entrepreneurial community in an 18-county region of Northwest Ohio, Rocket Ventures brings together the necessary partners to make the development process most successful.