UC-backed startups receive funding from $1.4 million state grant
Bold technological advances reign supreme at the University of Cincinnati’s 1819 Innovation Hub, as seen by Ohio’s latest round of venture funding.
The Cincinnati Business Courier reports that two startups based on technologies developed at UC and supported by UC’s Technology Transfer team and the 1819 Venture Lab were awarded $200,000 each to accelerate their entrepreneurial journeys.
Ohio’s Third Frontier Commission awarded $1.4 million to innovative startups across the state through its Technology Validation and Startup Fund (TVSF). $400,000 went to the following UC-backed businesses:
- ComfortCath: Mason, Ohio-based startup developing a catheter to help women with chronic urinary retention urinate without needing a drainage tube or bag.
- MetaMol Theranostics: Milford, Ohio-founded business working on a breast cancer diagnostic device that boosts detection rates and could increase chances of survival.
ComfortCath and MetaMol aren’t just hoping to kick-start Cincinnati’s innovation economy; they plan to revolutionize the healthcare field. Whether by providing comfort to women or detecting breast cancer in its early stages, Southwest Ohio’s entrepreneurs hope to change lives.
The TVSF program provides grants to Ohio companies aiming to license institution-owned technologies to accelerate commercialization.
Ohio Department of Development
“The TVSF program,” according to the Ohio Department of Development, “provides grants to Ohio companies aiming to license institution-owned technologies to accelerate commercialization through activities such as market research and further prototyping.” ComfortCath will use its award for product prototyping, design finalization and retention of resources, while MetaMol hopes to begin product commercialization soon.
A hub for startup innovation
Marvin Abrinica. Photo/Mary Dwyer
It’s no coincidence that both of Southwest Ohio’s award winners are members of the innovation ecosystem forming at the University of Cincinnati. Entrepreneurs across the region turn to UC’s 1819 Innovation Hub to help launch new companies and elevate existing ones. ComfortCath and MetaMol Theranostics specifically turned to two commercialization resources at 1819: the Venture Lab startup incubator and the Technology Transfer team.
As Cincinnati’s earliest source of startup funding, the Venture Lab offers grants and trains founders on ways to effectively launch new businesses. Marvin Abrinica, director of startups at UC’s Office of Innovation, is thrilled to see two Venture Lab graduates reach statewide success.
"The success of ComfortCath and MetaMol in this funding highlights the high potential of life sciences and medical technologies emerging from the UC Venture Lab,” Abrinica says. “We are committed to supporting the very best UC-based companies and strengthening Cincinnati’s position as a hub for entrepreneurial success."
Patrick Brown. Photo/Gregory Glevicky
At the same time, Tech Transfer provides commercialization expertise to university-affiliated researchers developing innovative products. Patrick Brown, commercialization navigator for UC’s Technology Transfer team, believes that ComfortCath and MetaMol can change lives – and sees the critical role his team played in their development.
“Our team is tasked with identifying, assessing and protecting novel technologies developed by our talented faculty,” Brown says. “We help to determine the most promising path to commercialization, connecting them to programming, resources, partners or potential licensees along the way. I encourage our researchers to reach out to our team to learn what opportunities exist for translating technology to the market to realize its intended impact.”
ComfortCath and MetaMol Theranostics are just two of countless startups enjoying the resources at 1819. UC and the state of Ohio have invested nearly $10 million since 2018 into early-stage startups through the Venture Lab, while Tech Transfer is ranked among the top 100 producers of utility patents in the U.S.
These and additional resources at 1819 such as the Learning Lab and Ground Floor Makerspace have turned the building into ground zero for innovation in Cincinnati. The city’s startup ecosystem is only expected to expand further as Ohio invests more into promising and transformative businesses such as ComfortCath and MetaMol.
Featured image at top: Presentation at UC's 1819 Innovation Hub. Photo/Gregory Glevicky
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