COLUMBUS - 

State Senator Scott Oelslager (R-North Canton) today announced that Impact Angel Fund, of Canton, will receive state funds to help attract and accelerate the growth of technology companies in northeast Ohio.

The Impact Angel Fund (IAF) will receive $1 million from the Ohio Development Services Agency’s Research & Development Fund to invest in emerging and expanding technology-based companies. Bond dollars from the Ohio Third Frontier Commission will allow IAF to target a variety of industries, including aero-propulsion, agribusiness and food processing, medical technology and solar photovoltaic, among others.

Certain criteria must be met before groups are eligible to receive funds, including:

  • Substantial presence, meaningful impact, or strategic connection to the economy of the nine-county targeted area, including Stark County, 
  • Proprietary technologies in the advanced materials sector, software applications, or the emerging shale gas technologies areas,
  • Potential to serve a sizeable and significant market,
  • Evidence-based, credible potential to attract investment and funding needed to advance the company to its next stages of commercialization.

Support from JumpStart, TechGROWTH Ohio, Innovation Forward and various other individual investors will provide an additional $1 million to match the state’s investment.

“I am excited to see this plan move forward,” said Oelslager. “The goal is to make state capital dollars more accessible, spur technology growth here in Stark County and the surrounding region, and benefit a growing and diverse workforce."

 
 
 
  
Featured Posts

Addressing Our Shared Priorities

 

It is a great honor for me to represent our community in the Ohio Statehouse. As I look back on all that we've accomplished, I am struck by how far this state has come. 



 
 

Oelslager Applauds New Investments To Combat Heroin Epidemic

 

"Long-term recovery for those struggling with addiction is the ultimate goal," said Oelslager, Chairman of the Ohio Senate Finance Committee, which is charged with crafting the state's operating budget. "Response teams are another layer in the state's comprehensive efforts to combat this epidemic, which is devastating families and communities across Ohio."



 
 

Helping Families Save On Back-to-School Shopping: The Ohio Sales Tax Holiday Is August 4-6

 

Beginning Friday, August 4 and running through Sunday, August 6, families can take advantage of this unique tax-free weekend when purchasing select items.



 
 

Statewide Investment, Local Impact

 

I am proud of this fiscally responsible statewide budget, but I am equally as proud of the positive, direct impact it will have on Stark County.