Entrepreneurship is a challenging journey that requires financial backing to bring ideas to life. One way to secure funding is by applying for small business grants. Ohio offers various grants that can help entrepreneurs overcome financial barriers and boost their businesses. In this article, we’ll take a closer look at some of the top Ohio small business grants you can apply for in 2022.
1. Ohio Development Services Agency Small Business Grants
The Ohio Development Services Agency provides small business grants to help entrepreneurs in various industries. The agency divides the grants into two categories: Ohio Small Business Development Centers (SBDC) and JobsOhio Network Partners. The Ohio SBDC grants provide funds for market research, product development, and export expansion services. The JobsOhio Network Partner grants offer funds for capital investment, equipment purchases, workforce training, and infrastructure improvement.
2. Ohio Capital Fund
Ohio Capital Fund is a venture capital firm that invests in Ohio-based businesses. The fund invests in four categories: early-stage technology companies, life sciences companies, advanced materials companies, and energy companies. The fund provides seed and venture capital funding to help businesses grow and create jobs in Ohio.
3. National Institute of Standards and Technology (NIST) Small Business Innovation Research (SBIR) Program
The NIST SBIR Program is a federal funding opportunity for small businesses that develop innovative technologies. The program provides funding for research and development that advances scientific and technological solutions and creates a successful commercial product. The grant is divided into two phases, with phase one providing up to $100,000 for six months, and phase two providing up to $1 million for two years.
4. Manufacturing Extension Partnership (MEP) of Ohio
The MEP of Ohio is a non-profit organization that provides technical assistance and funding to small businesses in the manufacturing industry. The program offers a variety of services, including lean manufacturing, product design, process improvement, and workforce development. The MEP also provides small business grants for Ohio manufacturers to improve their competitiveness and profitability.
5. Ohio Third Frontier
Ohio Third Frontier is an initiative created to support the growth of technology-based companies in the state of Ohio. The program provides funding for research and development, technology commercialization, and entrepreneur education. Ohio Third Frontier offers various grants, including Commercial Acceleration Loan Fund, Entrepreneurial Signature Program, and Technology Validation and Startup Fund.
In conclusion, small business grants play an essential role in helping entrepreneurs start and grow their businesses. Ohio offers a variety of grants that cater to different industries and business sizes. Whether you’re in the technology, manufacturing, or life sciences industry, there’s a grant waiting for you. Don’t miss out on the opportunity to secure funding for your business in 2022.
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