Ohio Third Frontier Creates Employment Opportunities for Young Engineers

Recently, I had the opportunity to talk with David Dmytryka the co-founder and president of Dmytryka Jacobs Engineers, Inc. (DJE) in Toledo, Ohio. Nearly 15 years ago, David co-founded DJE and today the company is a leader in engineering instrumentation and control systems for both municipal and industrial clients. DJE specializes in water, waste systems and storm water facilities management.

David spoke with me about DJE and how it has used Ohio Third Frontier funding to provide engineering students with real-world work experience. With Ohio Third Frontier’s support, the company has developed an engineering internship program. Now, engineering students can apply their classroom learnings to project work at DJE. This experience helps students understand the critical role of engineering within larger municipal and industrial projects.

With DJE’s practice of bringing interns on staff as young engineers, the Ohio Third Frontier has helped increase the number of employment opportunities available to engineers who are just starting their careers. So, not only have the funds been used to increase the number of real-world internship opportunities available to young engineers, but they have also helped engineers land jobs after graduation.

Click here to read my full interview with David when we discussed DJE, Ohio Third Frontier support and why David decided to start and grow his business in Ohio.

Ohio-Based Stem Cell Research Center Applying Findings to Develop New Technology

Ohio is leading the pack yet again. This time we are talking about stem cell research. One Northeast Ohio center is working to apply its stem cell research findings to develop new technology. Recently, I had the opportunity to talk with Debra Grega, Ph.D., executive director at The Center for Stem Cell and Regenerative Medicine (CSCRM) in Cleveland, Ohio.

Dr. Grega told me that CSCRM is a component of the Ohio-based National Center for Regenerative Medicine, which is the 4th largest stem cell research organization in the U.S. Through industry and education partnerships, CSCRM provides comprehensive stem cell research with the ultimate goal of applying findings to develop new technology for treating various human diseases.

The revolutionary advancements coming out of CSCRM are a result of the educational partnerships and investment it fostered with the support of the Ohio Third Frontier. By cultivating academic-business partnerships, the Ohio Third Frontier has spurred development of commercially relevant research in key industry sectors, including stem cells.

With efforts focused on regenerative medicine, including first-in-the-nation stem cell clinical trials and innovative tissue engineering programs, CSCRM is currently exploring issues such as heart disease, cancer, genetic disorders and neurodegenerative diseases such as multiple sclerosis. As executive director at CSCRM, Dr. Grega coordinates interdisciplinary research groups, biotechnology business and new technology development.

Click here to read my full interview with Dr. Grega.

TechGROWTH Ohio Invests $1.3 Million in Energy Company

TechGROWTH Ohio recently announced an investment of $1.3 million in Athens-based Global Cooling, Inc., a company that develops innovative, high-performance, energy-efficient cooling products for customers in scientific, medical and electronics fields. TechGROWTH Ohio is an Entrepreneurial Signature Program (ESP) funded by the Ohio Third Frontier to serve southeast Ohio.

The Ohio Third Frontier is an unprecedented and bipartisan commitment to create technology-based products, companies, industries and jobs. Since its inception, the program has created or capitalized more than 500 companies and has created $6.6 billion in economic impact in Ohio, a 10:1 return on investment.

The East Central Ohio Tech Angel Fund (ECOTAF) and five individual “angel” investors (two American and three international) joined TechGROWTH Ohio in the financing.

Global Cooling will use the new capital to accelerate development and market introduction of several products, including the world’s first portable ultra-low temperature freezer (-80°C, -112°F). Global Cooling’s freezer technology weighs less than a third of the nearest competition and consumes less than a quarter of the power.

Click here to find out more about the Ohio Third Frontier, Ohio’s largest-ever commitment to high-tech job creation and economic progress.

Global Leader in Fuel Cell Technology Supported by Ohio Third Frontier

Lionel Batty is the director of corporate research and development at GrafTech International Holdings, Inc., a global leader in fuel cell technology headquartered in Parma, Ohio and recipient of funding from the Ohio Third Frontier.

I recently had the opportunity to speak with Lionel about GrafTech and the impact of the Ohio Third Frontier. For over 120 years the company has produced graphite electrodes, advanced carbon and graphite materials, and flexible graphite, which it now manufactures on four continents and sells in over 80 countries around the world. GrafTech has won six R&D 100 Awards in the last seven years for introducing new revolutionary technologies to the market.

The Ohio Third Frontier, an unprecedented and bipartisan commitment to create technology based products, companies, industries and jobs, has supplied funding to GrafTech for several different projects. Since its inception, the program has created or commercialized over 500 companies and has attracted $3.5 billion in private investment to Ohio, a 9:1 return on investment. In 2006, the State of Ohio also helped GrafTech move its global headquarters to Parma, Ohio with the Job Creation Tax Credit.

Click here to learn more about how the Ohio Third Frontier has impacted GrafTech.

Ohio Sees Substantial Increase in Venture Capital Investment

This past year, despite a financial climate that has dried up venture capital nationwide, Ohio received an increase in capital funding to support entrepreneurship and business development. In fact, Ohio was the only state that did not experience a decline in venture capital investment in the past 12 months.

Details about Ohio’s increase in venture capital investment will be on display this Wednesday, October 14 and Thursday, October 15 at the Ohio Early Stage Summit V in Columbus, Ohio, an education and networking event for entrepreneurs and investors nationwide. Lieutenant Governor Lee Fisher, and past leader of the Ohio Department of Development, is the keynote speaker at the event.

State funding supporting early stage venture capital investment has been key to Ohio beating the odds in the current venture capital environment. For example, the Ohio Third Frontier has created or commercialized more than 500 companies and has created $6.6 billion in economic impact in Ohio, a 9:1 return on investment.

Click here for more information about the Ohio Early Stage Summit V and Ohio’s venture capital investments.