Coalition fund hits $5M mark with latest awards - Dayton Business Journal:

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The news marks the first announcement of funding since when the coalition executed the first roundof grants, aimed at aidingh fledgling technology-based businesses. The Entrepreneurial Signature Program, or ESP, is a $58. million state program that designates a nonprofitf organization to distribute grants in six different Ohio Itdesignated , a coalition affiliate, to dole out grantes in the Dayton region. It has awardeds 37 grants to 25 companiessince 2007, said Christina Howard, coalition vice presidenyt of entrepreneurial development.
The prograj aids small business, especially in the technologty field, because inventors can lack thebusinessw expertise, or cash, to get productds to market; forcing many to go Since the program kicked off, about 250 companiea have applied for funding, Howardr said. The three-year-old program is mostly funded by $15 million of publif money, via the Ohio Third Frontieer program, and $7.5 million in private investor equity. The coalition has set aside about $1 million for administratiom and $2.5 million goes to setting up partnershipds with other local assetsand organizations. There is about $14 million left to award in the coalition’s area, Howard said.
She said the coalitionb will be releasing a report soon detailing its The most recent receiving acombined $248,000, are: • Dayton-baser , which develops business-to-business supply chain managemenyt software; • Miamisburg-based , a fuel cell manufacturer and • Kettering-based , which makeds mapping and location software for web and wireless and • Dayton-based , which developed a softwarwe application, along with , for the higher educatioj field to assist with student retention and The coalition did not disclose how much each recipientt received. Marcus Milligan, StudentZen chief operatingg officer, said the grant will provide him neededoperatinv capital.
His obstacle is developing a brand forhis product, and the granr will help. “It will allow me to move forward at afastedr rate,” he said. “We can concentrate on our producf and market this that isreally key.”