Proposals Sought for Ohio Innovation Hubs Funding

COLUMBUS, Ohio – The Ohio Department of Development is accepting proposals for the $125 million Innovation Hubs Program, and eligible communities are encouraged to apply.

The goal of the program is to make Ohio a national leader in innovation, creating new jobs and business opportunities, a news release states.

“Innovation hubs encourage small and medium-sized Ohio communities to collaborate and bring together their unique ecosystems of researchers, entrepreneurs and public and private partners who will work to create and develop innovative solutions and products,” Gov. Mike DeWine said.

The hubs will create jobs, increase STEM talent and attract research funding and outside capital investment, the release states. 

“Innovation hubs are about technological progress and innovation, which are the primary drivers of long-term economic growth,” Lt. Gov. Jon Husted said. “Communities with innovation hubs will benefit by attracting talent and private investments that will result in the research and development that lead to new products, patents and services that create higher-paying jobs and new entrepreneurs who will enhance the area’s reputation as a center for technological advancement.”

Innovation hub applicants can apply for up to $35 million. Communities establishing new hubs can apply for up to $500,000 in planning funds. Funding can be used for capital expenses to establish an innovation hub, support research and development activities and to recruit and preserve research staff jobs.  

To submit an indication of interest, email Proposals will be reviewed and awarded on a rolling basis as long as funding remains available.   

More information and an informational webinar recording are available HERE.

Pictured at top: Image via Ohio Department of Development.

Published by The Business Journal, Youngstown, Ohio.