Local group will grant millions to promising technology startups; The Dayton Development Coalition plans to distribute $22.5 million to support small

BYLINE: By Lisa Bernard Staff Writer

DAYTON - More than 40 companies from the region and elsewhere stand to get a chunk of $22.5 million to be made available as part of a new initiative of the Dayton Development Coalition.

On Monday the coalition outlined its plans for rolling out the Entrepreneurial Signature Program, which is designed to provide grants and support to area technology-based companies that are within two to three years of taking a new product to the market.

"It's not going to take away from the boot-strapping," said Christina Howard, vice president of Entrepreneurial Development of the coalition. "It's meant to support their journey as entrepreneurs."

The program, which will award grants over the next three years, is being funded by an $11.3 million Ohio Department of Development Third Frontier grant, $7.5 million from local investors and an anticipated $3.7 million in additional state grant funding. Funding is expected to begin in June.

Eligibility criteria call for the companies to be privately held, have less than $5 million in revenue last year and fewer than 30 employees.

The program also will put $5 million toward luring at least four techbased companies to the area, with the funds directed toward support and relocation costs.

Specifically, the coalition has teamed with Washington, D.C.-based Four Seasons Venture, which provides seed money to emerging tech-based companies that serve government sectors.

"Our model with Four Seasons is that we will co-invest, and they will locate the companies here," Howard said. "Then we as a community can make sure that these companies know the right people, community leaders, have access to the Third Frontier and a good roof over their heads."

Contact the reporter at (937) 225-2147 or lbernard@DaytonDailyNews.com.

About the program

Supporters: The Entrepreneurial Signature Program is being backed by more than 20 local investors, with advisor support from Four Seasons and RiverCities Capital. Limited partners include the University of Dayton, Wright State University Foundation, the Sinclair Community College Foundation, the Turner Foundation, Soin International and Premier Health Partners.

To be eligible: Companies must be located in Champaign, Clark, Darke, Greene, Miami, Montgomery, Preble or Shelby counties.

To learn more: Call 222-4422.