Cleveland State University and Kent State University have been awarded a grant from the Ohio Third Frontier Commission to create a joint technology commercialization and startup fund, according to a news release.
This news got a mention in an article about the Ohio Third Frontier Commission’s recent round of grants last week, but the universities’ news release had some interesting details on how this collaborative program will work.
The program, which will be called the TeCK Fund, will be open to faculty teams who are looking for ways to commercialize research, the release stated. It will also help connect university researchers with possible business partners.
“This fund will be a key component of Kent State and CSU’s broader efforts to commercialize more of our inventions and assist in creating jobs and new economic opportunities in Northeast Ohio,” said Stephen Roberts, director of technology commercialization at Kent State, in the release.
The fund will be $800,000 total — $400,000 from the Third Frontier grant and $200,000 each from Cleveland State and Kent State, said William Dube, director of communications and media relations for Cleveland State.
Researchers will have access to up to $100,000 for individual technology validation projects, the release stated.
It’s interesting to see the region’s universities working ever closer together. This will be a project to watch.