Innovation Fund America

Innovation Fund America is a nonprofit that supports technology startups in Northeast Ohio through early-stage funding and education. Its awards are meant for companies that have moved past raising money from family and friends but have not yet taken investment from outside firms.

What Innovation Fund America does

• Validation award: funding for a company proving a new technology, for example through prototyping or trials.
• Growth award: a larger award for testing the business model, winning first customers, hiring and market trials.
• Application coaching: help with a financial workbook and with preparing a pitch.
• Milestone guidance: funding tied to goals the company sets, with the team supporting progress.

Clients

Early-stage technology companies in the region. Applicants must first attend an information session, and every award has to be matched by the company. Portfolio companies are expected to offer learning opportunities to students. Examples of past recipients include a tumour-imaging tool, a medical catheter, a corrosion test kit and a course-authoring platform.

Key facts

• Region: Northeast Ohio
• Type: nonprofit
• Process: information session, application, milestones