Funding Location
Eligible counties are highlighted.
Funding Options
Funding Option A
Funding Option B
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B | up to $150,000 awards
Up to $150,000 B level awards help entrepreneurs validate their businesses. They’re for entrepreneurs who have developed a technology, probably have a working prototype, and are now ready to test the business model they’ve created around the technology. Most often, this funding is used to acquire first customers, market test products, make key hires, and advance product testing. This money needs to be matched dollar-for-dollar and repaid if the business is successful.
What We Look For
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We invest in scalable technology startups that can have a positive economic impact on Northeast Ohio. The most fundable startups:
- are led by coachable entrepreneurs
- have strong intellectual property
- are working in large markets ($50 million +)
- will attract follow-on investment
- can create jobs
Funding Requirements
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Once you receive funding, there are a few things you're required to do:
- provide 1:1 match
- agree to our mentoring process
- provide educational experiences to students at Lorain County Community College or a partner university
- keep your business in Northeast Ohio
Sectors We Focus On
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We invest in companies that have innovative and cutting-edge technologies in one of Ohio’s high growth industry sectors:
- Advanced Materials
- Aeropropulsion
- Agribusiness
- Fuel Cells/Energy Storage
- Medical/Healthcare Tech
- Sensing & Automation Tech
- Shale
- Situational Awareness & Surveillance
- Software Applications
- Solar Photovoltaics
- Other
Counties We Invest In
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We invest in companies that are located in or willing to relocate to one of the following Northeast Ohio counties:
- Ashland
- Ashtabula
- Carroll
- Columbiana
- Crawford
- Cuyahoga
- Erie
- Geauga
- Holmes
- Huron
- Lake
- Lorain
- Mahoning
- Medina
- Portage
- Richland
- Stark
- Summit
- Trumbull
- Tuscarawas
- Wayne
Upcoming Dates
Innovation Fund Northeast Ohio is always accepting applications. Here are the deadlines you’ll need to meet to be considered for our upcoming funding cycles.
Open Application
6/16/22
Financial Requirement Due
8/31/22
Application Deadline
9/15/22
Learn More At An Info Session
Thursday, August 18, 2022 at 9:00 am / ZOOM
Thinking of applying for the Innovation Fund? Then you'll want to join us for a free Innovation Fund 101 where we explain the ins-and-outs of our application process. We'll also highlight some of the region's most effective entrepreneurial support organizations.
Agenda:
- How to apply and who is eligible
- How the funding can be used
- Things to know before you fill out your application
- What to expect if you receive an award
- Financial reporting requirements
- Educational requirements
Reserve Your Seat Download Powerpoint

Northeast Ohio Portfolio Spotlight
Meet Our Mentors
Some call them serial entrepreneurs, financial wizards, patent gurus, and business professionals. We call them dedicated individuals who help our community’s entrepreneurs succeed. They’re experts in their fields and they are here to help at every turn.
Northeast Ohio News
Our portfolio companies are making headlines. Read the latest news on all our current and former entrepreneurs and their businesses.
IF Portfolio Company BoxCast Buys Competitor After Big Gains During Pandemic
Innovation Fund Awards $225,000 to 4 Northeast Ohio Start-Up Companies
Innovation Fund Commits $275,000 to 5 Northeast Ohio Startup Companies
Innovation Fund awards $375,000 to 6 Northeast Ohio startups
About
Innovation Fund Northeast Ohio was founded by the Lorain County Community College Foundation in 2007 to fill the capital needs of Northeast Ohio startups at the earliest stage of development. We think like investors, but our return on investment is a little different. We support startups so they can impact our economy and inspire future innovators.
Partners
Northeast Ohio Vital Statistics
For more than a decade, Innovation Fund Northeast Ohio has been bridging the gap between great ideas and successful companies. And much like the businesses we help create, numbers define our success. This is what we, along with the companies we invest in, have been able to accomplish.
