Engineered Products of Ohio Awarded $200K in State Funds

COLUMBUS, Ohio – Engineered Products of Ohio LLC will receive $200,000 to commercialize a Radio Frequency Identification tag that will be used to detect and avoid cybersecurity attacks.  

The technology will provide significantly increased resistance to cybersecurity threats and will reduce the ability to target and harm various commercial supply chains, a news release states.

The funding will come from $2.65 million in grants approved Tuesday by the Ohio Third Frontier Commission to support the research and licensing of new technologies.

The Ohio Third Frontier Technology Validation and Start-up Fund provides grants to Ohio companies aiming to license institution-owned technologies to accelerate commercialization through activities such as market research and further prototyping. This helps companies raise funds and get the licensed technology to the marketplace faster, the release states.

“The funding approved by the Ohio Third Frontier Commission today will help create innovative and momentous improvements in health care, education and communication industries,” said Lydia Mihalik, director of the Department of Development. “These technologies have the potential to change lives and alter the future of their industries for the better.”

Awards are focused on technology and tech-enabled products in advanced manufacturing; advanced materials; biomedical and life sciences; energy; sensors; and software and information technology. More information is available HERE.

Pictured at top: Photo via Ohio Department of Development.

Published by The Business Journal, Youngstown, Ohio.