Taft Announces New Third Frontier Entrepreneurial Awards
COLUMBUS, OHIO (November 16, 2006) - Governor Bob Taft today announced that $56.8 million has been awarded to commercialize new products and create jobs in Ohio. Through the new Third Frontier Project Entrepreneurial Signature Program (ESP), the awards were made to six regions of the state to support entrepreneurs and small technology-based companies. The awards received approval today by the Third Frontier Commission.
"The future growth of Ohio's economy will depend on our ability to create an environment in which entrepreneurs will grow ideas into commercial products," Taft said. "Based on the principles of the Third Frontier Project, this program will assist start-up companies in Ohio working in those sectors where growth and job creation can occur."
The ESP is designed to create comprehensive and integrated networks to provide entrepreneurial support and capital to technology-based entrepreneurs and small, tech-based firms throughout the state. The ESPs provide assistance in one or more specific areas that have been identified as important economic development prospects for each region.
"The Entrepreneurial Signature Program was a focal point of the Issue 1 campaign in 2005," said Lt. Governor and State Development Director Bruce Johnson. "The partnerships that we have built with business and community leaders on the local level is vital to the innovation that will create high-paying, high-tech jobs across Ohio."
