Ohio Third Frontier Commission announces 2013 budget and program changes
At the Ohio Third Frontier Commission meeting on October 23, 2012, the commission authorized the approval of a $236 million budget for the program’s 2013 fiscal year. The budget will allocate program resources as follows:
- Capital & Talent – $43 million
- Innovation – $50.1 million
- Commercialization – $77 million
- Research – $8 million
- Marketing – $1 million
- Reserve – $56.9 million
Agreeing to switch to a calendar year budget cycle, the commission will carry-over $61 million from the FY 2012 budget into the FY 2013 budget, Columbus Business First reports. The Growth Fund and Micro Loan Fund programs will be eliminated, while two new programs, Technology Commercialization Centers and Technology Asset Grants, were created.
For more, read the Columbus Business First story and view the Third Frontier Commission meeting presentation.
