$17 Million in Investments Now Available

Ohio Third Frontier, a program designed to expand our state’s robust technology sector, has generated a 9:1 return on its investments, leveraging resources and creating opportunities for Ohioans through innovation across our state. Today, the Ohio Department of Development announced the release of two competitive requests for proposals (RFP) for the program’s 2010 fiscal year.

“Through Ohio Third Frontier, we have invested more than $374 million in the biomedical cluster, a high impact industry across our state,” said Lisa Patt-McDaniel, Director of the Ohio Department of Development. “Ohio Third Frontier’s strategic focus and investments will continue to strengthen and create new companies, commercialize new technologies, and create good jobs for Ohioans in both in the biomedical imaging and other sectors.”

Medical Imaging and Biomedical areas such as cardiovascular, regenerative medicine, and orthopedics, have demonstrated a compelling capacity for growth in Ohio. Recognizing that potential, Ohio Third Frontier has tailored its programming to become an investment partner in these industries, catalyzing the significant potential these sectors represent for Ohioans.

Designed in 2002 to build world-class research programs, nurture early-stage companies, and foster technology development that makes existing industries more productive, Ohio Third Frontier creates opportunity through innovation. The National Governor’s Association and Pew Center for the States described Ohio Third Frontier as “a comprehensive, professionally run effort to build world-class research capacity, promote interaction between research and industry, and commercialize research and development.”

Representatives from Ohio Third Frontier will conduct a bidder’s conference on January 5, 2010 at TechColumbus. Letters of intent are due to the Ohio Department of Development by January 25, 2010.  Formal proposals will be accepted until March 1, 2010 at 2 p.m., with program awards to be made in May 2010.

In keeping with Ohio Third Frontier’s commitment to transparency, proposals will be evaluated independently and externally, then reviewed by the Ohio Third Frontier Commission before final approval by the State Controlling Board.

Complete RFP materials are available at: www.thirdfrontier.com.  All information and guidance required to submit a successful proposal can be obtained directly from the Ohio Department of Development.