The state's Edison Technology Incubator Program is now under the authority of the Ohio Third Frontier, but the Ohio Development Services Agency left three ideas for the commission to consider that would significantly change how Ohio's business incubators receive state money, Crain's Cleveland Business reports (See our Apr 26, 2013, blog post for more information). As they stand, the ideas would allow other incubators to compete for the program's state money; require the incubators to push "more mature companies" out of the incubator within a certain amount of time; and require incubators to direct one-third of all operating funds "directly to the startup companies they support." Although the changes are meant to encourage startup companies to become "thriving, independent job creators" within three to five years, representatives for several incubators are expressing concern that these proposals fail to take into account the specific circumstances that can prevent a startup from leaving within three to five years, and the fact that services would likely be reduced should one-third of operating funds be directed to startups, the article said. For more, read the full story.
Ohio Third Frontier Commission considers changes to Ohio's business incubator program
