Innovation Fund Northeast Ohio, the area’s most active pre-seed fund for technology-based startups, has awarded a combined $225,000 to six companies. The startups will use the money to complete projects that will test technologies and prove business models. With the recent investments, the Innovation Fund has awarded nearly $12 million to 183 companies since it launched in 2007.
“After a decade, we are still impressed by the companies launching in Northeast Ohio that have really big ideas,” said Dennis Cocco, director of the Innovation Fund and co-director of GLIDE, the Lorain County Community College technology incubator that administers the Innovation Fund. “These startups have business ideas that could change their respective industries in very creative ways.”
Here are the companies that received funding this quarter:
O2 RegenTech ($100,000 |Akron) is commercializing cost-effective, easy-to-use wound care solutions. The company’s proprietary technology is used in its first product, which is an oxygen-releasing, moist, antimicrobial dressing to promote chronic wound healing.
Bennit ($25,000 | Chagrin Falls) is a self-learning, highly personalized virtual production assistant for manufacturers. Much like Siri, Cortana, or Google Home, Bennit learns from its users, but also encourages a two-way dialog that’s more interactive and productive than the passive experience of most consumer assistants.
DAK Scientific ($25,000 | Youngstown) is a medical device company designing products for the IV and Peripherally Inserted Central Catheter (PICC) markets. The company specializes as a provider of infection prevention and tamper-resistant devices for IVs and PICC lines, ensuring a safe, secure, and successful treatment outcome for patients.
Datefit ($25,000 | Cleveland) is a multidimensional technology firm focused on cutting edge mobile dating solutions. The startup, which was co-founded by the CEO of Hotcards.com, gives singles who are passionate about healthy living a place to connect and meet.
Hyr Medical ($25,000 | Highland Heights) has developed an online platform that enables physicians and healthcare facilities to directly, efficiently and transparently connect for part-time work (a.k.a. locum). By removing the slow and expensive agency middle-man, physicians earn a higher rate and healthcare facilities pay a lower rate. This means fewer physician shortages and improved patient care.
Vlipsy ($25,000 | Akron / Canton) is a search engine for short video clips that help users express themselves in text messaging and on social media through quotes and scenes from their favorite movies, tv shows and other internet videos. The company released the app this April on its website (vlipsy.com) and in the App Store with a keyboard app for iMessage.
Learn more about these companies and the entire Innovation Fund portfolio.