Ohio Third Frontier Commission renews its support for entrepreneurs
Robert L. Smith, The Plain Dealer
The Ohio Third Frontier Commission renewed its commitment to entrepreneurship Thursday as it directed nearly $10 million to programs in Cincinnati and Dayton that offer cash and guidance to fledgling companies.
The decision bodes well for JumpStart Inc., the premier entrepreneurship catalyst in Greater Cleveland, whose representatives will come before the commission next month seeking support that once looked in doubt.
Third Frontier funds help to sustain JumpStart, which collaborates with BioEnterprise and other non-profit economic development agencies to support young, promising companies in Northeast Ohio.
“We’re encouraged how things worked out,” said JumpStart chief executive Ray Leach. “I think where they are heading is positive for entrepreneurship in Ohio.”
The decision to steer $5.5 million to CincyTech and $4 million toward the Dayton Development Coalition followed a day-and-a-half long retreat in which the priorities and strategies of the Third Frontier initiative were discussed at length.