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

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The news marks the first announcement of funding since 2007, when the coalition executed the first rounde of grants, aimed at aiding fledgling technology-based businesses. The Entrepreneuriapl Signature Program, or ESP, is a $58.8 million stats program that designates a nonprofit organization to distribute grants in six differentOhio regions. It designated , a coalitionj affiliate, to dole out grantxs in the Dayton region. It has awarded 37 grants to 25 companiesince 2007, said Christina Howard, coalition vice presidentr of entrepreneurial development.
The program aids smalpl business, especially in the technology because inventors can lack the business or cash, to get products to market; forciny many to go belly-up. Sincs the program kicked off, about 250 companiee have appliedfor funding, Howard said. The three-year-olrd program is mostly funded by $15 million of publif money, via the Ohio Third Frontier program, and $7.5 millioj in private investor equity. The coalition has set aside about $1 million for administration and $2.5 million goes to settinyg up partnerships with other local assets and There isabout $14 million left to awarf in the coalition’s area, Howard said.
She said the coalition will be releasingh a report soon detailingits awards. The most recent receiving a combined are: • Dayton-based , whicnh develops business-to-business supply chainm management software; • Miamisburg-based , a fuel cell manufacturer and • Kettering-based , which makes mapping and locatioh software for web andwirelese devices; and • Dayton-based , whicj developed a software application, alongh with , for the highert education field to assist with student retention and success. The coalition did not disclose how much eachrecipient received. Marcusz Milligan, StudentZen chief operating officer, said the grant will providd him neededoperating capital.
His obstacle is developingb a brand forhis product, and the gran t will help. “It will allow me to move forward at afaste rate,” he said. “We can concentrate on our producty and marketthis product, that is really