2009 tech columbus annual report
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DESCRIPTION2009 TechColumbus Annual Report
ANNUAL REPORT October 23, 2009
FACESOFINNOVATIONAdvertising supplement to Columbus Business First
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2 Advertising Supplement to Columbus Business First Faces of Innovation - TechColumbus annual report 10.23.09
BOARD OF DIRECTORSChairJay JordanCEOOCLC Inc.
Vice ChairDwight SmithFounder, President & CEOSophisticated Systems, Inc.
SecretarySteve AllenCEONationwide Children’s
TreasurerRhonda DeMuthChair and CEOTDCI, Inc.
David Bianconi Founder & CEOProgressive Medical, Inc.
Ted Celeste PresidentCeleste & Associates
John CullivanBusiness Consultant
Alan CullopExecutive Vice President
& CIONetJets Inc.
E. Gordon GeePresidentThe Ohio State University
Michael Keller Executive VP and CIONationwide
Richard RosenVice President, Education
Michael PetreccaManaging PartnerPricewaterhouseCoopers
Caroline WhitacreVice President for
ResearchThe Ohio State University
Ted FordPresident & CEO
Pete DunleavyFinance and Accounting Manager
Michelle MurciaVP Finance &Administration and CFO
Diane VanDeusenExecutive Assistant
Client Services TeamTeresa Cline
Client Service Manager
Tracy WattermanClient Service Representative
Marketing and Membership TeamTim Haynes
VP Member Services and Marketing
Paul AnthonyDirector of Marketing
Caroline HaskettMarketing Coordinator
Kay ShabazzEvent Planning and Member Support Manager
Leslyn WheelessDirector, Membership Sales
Platform LabSteve Gruetter
Platform Lab Director
Joe ButvinNew Business Sales Representative
Russell SchmidtLead Tech,Platform Labs
TechStart TeamWill Indest
VP, Venture Development
Chris AndersonStartup Specialist
Stephen AndersonBusiness DevelopmentRepresentative,TechStart
Dan CaseyEntrepreneur in Residence
Laura CoffeeTechStart, Member Outreach
Rick CoplinBusiness DevelopmentRepresentative,TechStart
Andy DicksonDirector, OhioTechAngels Funds
Allison FinkelsteinSr. Director Funds Management
Kevin GaddDirector IT Commercialization
Stefphanie HarperDirector, Venture Development Outreach
Dan MeekEntrepreneur in Residence
Burton PageSr. Director Technology Commercialization
George ProicouDirector of Life Science Commercialization
Gary RawlingsDirector Technology Commercialization
Scott RebeleTechStart, Accounting/Reporting
Susan StantonTechnology Commercialization Consultant
TechColumbus1275 Kinnear Rd.Columbus, OH 43212(614) 487-3700(614) 487-3704 fax
Welcome letter from Jay Jordan and Ted Ford
Welcome to TechColumbus’ fourthannual report to the community.
! is past year has been a dizzying ride, and while a measure of calm has returned, the ride isn’t over. As the nation’s “#1 Up and Coming Tech City,” how has our emerging tech economy fared? Cen-tral Ohio tech companies took some casualties, but Central Ohio also continued to move ahead and position itself for the coming upturn. Consider the following:• In the past several months, Central Ohio has
been highly ranked nationally as one of the best places to do business (Wall Street Journal Mar-ketwatch 2008), a great place to fi nd tech-related employment (US News and World Report 2009). ! e City of Dublin was ranked by Fox Business (2009) as one of the best smaller cities in the na-tion in which to launch a business.
• Nationwide Children’s Hospital broke ground on a new 720,000 square foot hospital tower, as well as expansions in research capacity, that will make it one of the largest free-standing pediatric facili-ties in the nation.
• Battelle announced a $200 million expansion at its main facility in Columbus and its West Je" er-son research facilities, demonstrating the strength of its commitment to Central Ohio.
• More recently, OSU announced a $1 billion ex-pansion of its medical center complex, the largest project ever undertaken at the university and one that is sure to continue to raise OSU’s stature as one of the nation’s premiere medical care and research institutions. OSU also made signifi cant advances in planning a high density research park on its West Campus.
• OhioHealth announced a $150 million expan-sion of its Riverside campus. Combined with expansions at Nationwide Children’s Hospi-tal, OSU Medical Center, and Mount Carmel
Health System, the OhioHealth announcement strengthened Central Ohio’s position as a leader in healthcare delivery.
• TechColumbus reported in its 2009 Innovation Capital Report that early stage risk capital for young Central Ohio tech companies continued to grow despite a dramatic downturn in the availabil-ity of venture capital nationwide. ! e vast majority of young tech companies in Central Ohio have retooled their business plans, are weathering the storm, and are preparing to resume their growth.
• At the depth of the economic downturn, Tech-Columbus, Sterling Commerce and other busi-nesses collaborated to launch the fi rst ever In-novation Summit in Central Ohio, attracting 175 attendees who shared their insights into promot-ing innovation in the workplace. TechColumbus membership grew 69% from July 2008 to June 2009 as companies, entrepreneurs and investors banded together to support and learn from one another.
What explains our region’s ability to continue to advance despite the worst economic downturn in decades? It’s a combination of attitude and ability. We have determined and visionary leadership com-bined with a growing recognition that we can do this and will do this. It’s people. As you read this year’s annual report to the Com-munity, you’ll learn more about the many creative, talented and determined people who are building a robust regional tech economy here in Central Ohio. Once again, Central Ohio is on the move!
Jay Jordan Ted FordCEO, OCLC President and CEOChair, TechColumbus Board of Directors TechColumbus
PUBLIC ANDCOMMUNITY PARTNERS
AEPBattelleCardinal HealthCASHuntington The Ohio State UniversityNationwideNationwide Children’s HospitalOCLCState of Ohio
BioOhioCity of ColumbusColumbus ChamberColumbus Metropolitan LibraryColumbus State Community College –
Small Business Development CenterCOSIOhio Department of DevelopmentOhio IT AlliancePolymerOhio
City of ColumbusCity of DublinCity of Upper ArlingtonColumbus ChamberThe Research Institute at
Nationwide Children’s HospitalFranklin CountyGreifHuntingtonNCT VenturesOhioHealthOhio TechAngelsOhio’s Third Frontier ProgramOSU Fisher College – Center for
EntrepreneurshipThe Ohio State UniversityVillage of New Albany
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In their thoughts and deeds these leaders in education, industry and government seek to create an innovation mindset that will sustain Central Ohio throughout its next phase of growth and productivity.
The result is high-paying jobs, new and develop-ing companies, and products and services that are increasing global productivity. The rest of the country is taking note.
In August, U.S. News and World Report named Columbus on its “Best Places to Find a Job” list, citing Central Ohio’s health care and high tech industries as drivers of growth.
In April, Fox Business News ranked Dublin the No. 1 small city for startups.
Columbus was named the No. 1 Up-and-Coming tech city in the nation.
The Wall Street Journal’s MarketWatch ranked Columbus No. 7 on its best places to do business list, up from No. 14 the year before.
And the list of accolades could go on and on. Creating a true snowball effect for the region is a combination of top-down economic develop-ment efforts by the state of Ohio, and ground-breaking work by Central Ohio’s innovation-nurturing community. This includes educational and research institutions, and the increasingly networked entrepreneurial and tech commu-nity, along with stakeholders in business – all joining forces to head in the same direction.
“What we need to do is to make sure that we partner with Battelle, with Nationwide, with TechColumbus, with everyone, to create this kind of energetic opportunity for ideas to be turned into reality almost immediately. And that’s what Columbus provides – it’s a hotbed for that, right here,” says Ohio State University President E. Gordon Gee.
TechColumbus CEO Ted Ford puts a slightly different spin on the same concept.
“To lure tech businesses and venture capital to the region, Central Ohio has to tell its story cleanly and consistently,” Ford said. “It has long been a great story. What has changed is that Central Ohio is telling it and speaking with one voice. That makes a tremendous difference in the competitive economic development mar-ketplace.”
The funding that Ohio Third Frontier has fun-neled in the Central Ohio area through Tech-Columbus’ incubator and entrepreneurial as-sistance programs, angel funding and venture capital introductions, daily training and annual events has defi nitely resulted in a big part of the impact our region is enjoying. By the end of last year, Ohio Third Frontier had created 7,700 jobs and leveraged a total of $3.5 billion in private and federal funds since 2002.
“The program has, in fact, been a catalyst for economic growth and I believe its renewal will
Behind every culture of inno-vation is a dynamic group of leaders committed to their companies and com-munities, and determined
to create a positive future for both. In the past year, reports of the nation’s economic downturn have caused many other regions in the country to “pull in their horns” and wait for the recession to end. But in Central Ohio, many of the area’s top leaders recognize that, more than ever, this is the time to make inno-vation a driving force in the region.
“The program has, in fact, been a catalyst for economic growth and I believe its renewal will support our community’s development and the expansion of high tech companies across our state.”
Ohio Gov. Ted Strickland
LEADERSHIP continued on page 5
LEADERSHIPANDCOMMON GOALSmake innovation a top priority in Central Ohio
Bing Tan, Amy Heintz, Joel Elhard – Battelle
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Without question, the economic di# culties of the past year have been substantial. But I fully believe that the scale of our opportunities – for the University,
Columbus and Ohio – far exceeds the challenges. ! e current economic crisis will fundamentally reset our country for the next 50 years. It will reset our values and our direction, and will also create new opportunities to compete and excel globally. In the new knowledge economy, higher education will be at the center of those foundational changes. All of us at Ohio State are fully committed to leading the way. We have an unmatched breadth and depth of faculty expertise, gifted students, the country’s most spirited alumni, and talented, motivated sta" . We are also deeply fortunate to have the staunch support of our elected leaders, who believe, as I do, that Ohio’s bright future is tied to an educated, entrepreneurial workforce. ! eir strategic investment builds our core strength. With resources from Ohio ! ird Frontier, for example, we work with other universities and with businesses to conduct leading-edge research that will improve lives and transform Ohio’s economy to compete in the 21st century.
support our community’s development and the expansion of high tech companies across our state,” said Ohio Gov. Ted Strickland in his ad-dress during this year’s TechColumbus Innovation Summit.
Columbus Mayor Michael B. Coleman also supports the concept of working together for the common good. “Thanks in part to tremendous assets such as TechColumbus, Battelle, the Ohio State University, our hospitals and other community partners, Columbus is nationally recognized as a leader in research and technology,” Coleman says. “We invest in TechColumbus because of the crucial role it plays in creating jobs and promoting entrepreneurship.”
Central Ohio’s already strong research, educa-tional institutions and corporations are continu-ing to grow in stature and achievements.
Battelle Memorial Institute, the largest private research and development organization in the world, committed in January to a $200 million expansion of research, production and other facilities at its Columbus-area campuses. Battelle employs 2,500 in the Central Ohio region and 24,000 worldwide. Battelle is widely recognized for its lab management excellence as well as the application and commercialization of scientifi c research.
“Battelle’s 80-year commitment to the Central Ohio community dates to the will of Gordon Battelle, which funded the establishment of what today is the world’s largest independent research and development organization. In fact, Gordon’s will mandates Battelle’s mission as being ‘for the benefi t of mankind,’ ” said Battelle President and CEO Jeffrey Wadsworth.
American Electric Power (AEP), headquartered in Columbus, is at the forefront of “Smart Grid” efforts that would upgrade the nation’s electric power transmission network to incorporate com-munications technologies, allowing residential and small commercial customers to reduce costs by
providing them with usage information. Columbus is fertile ground for new ideas, says AEP’s CEO Mi-chael Morris, because of the advantages that the tightly-knit and growing tech community confers.
“I think this is one of the few areas that has this approach to helping young fi rms get on their feet,’” says Morris.
Ohio State University’s dedication to the com-munity is well-documented and its investment in research to advance the greater good, not just in the tech community, but in the community at large, makes the institution a jewel in Central Ohio’s crown.
“We have an unmatched breadth and depth of faculty expertise, gifted students, the country’s most spirited alumni and talented, motivated staff,” said President E. Gordon Gee. “We work with other universities and with businesses to conduct leading-edge research that will improve lives and transform Ohio’s economy to compete in the 21st century.”
Ohio State is also committed deeply to research, development and commercialization, expanding its Offi ce of Technology Licensing and Commercializa-tion and planning expansions of its high technol-ogy research park on its West Campus property.
As the region’s premier institutions grow, they are focusing more than ever on creating an internal infrastructure that will allow them to continue
to foster innovation, from research and development, to products and services, to the art of human resources.
This year, for the third year in a row, Fortune magazine has named OhioHealth one of the country’s “Best places to Work.” OhioHealth was the highest ranked organiza-tion in Ohio and the second highest ranked healthcare system in the nation. “We are again honored by Fortune magazine’s recognition of OhioHealth as one of the best places to work,” said Dave Blom, president and CEO of OhioHealth in a release in January. “It is an affi rmation that, together, we have built a strong culture and a healthy work environment that ultimately results in better care for our patients.”
Another Central Ohio health care organization recognized year after year for its achievements is Nationwide Chil-dren’s Hospital.
In June, the hospital earned a spot on U.S. News and World Report’s 2009 prestigious list of America’s Best Children’s Hospitals for the fourth consecutive year. The rankings are a testimony to the strides the hospital has been making in expanding its research capacity and com-mitment to clinical programs, said CEO Dr. Steve Allen. Nationwide Children’s brings in some $50 million per year in active grants to further that research.
Part of the legacy of Nationwide Children’s belongs to its excellent and talented staff members who help facilitate technology transfer and usher medical ideas into the marketplace. This year, the hospital hired Dr. Chris Will-son, former assistant director of the Offi ce of Technology Transfer at the University of Louisville, to head the new Department for Technological Commercialization.
Columbus’ growing reputation is an important factor in the hospital’s growth and ability to hire globally-recog-nized staff physicians and researchers. “Clearly, people in our business perceive there is a buzz in Columbus, and in particular with Nationwide Children’s, which has allowed us to recruit people who can go anywhere in the world they want,” Allen said.
“… the art of creating something new or making something old into something new. A business that fails to innovate will be relegated to a place in the fi le drawer of history. A business that innovates will live to see another day.”
Susan Rector | Schottenstein Zox & Dunn
Continued: LEADERSHIPANDCOMMON GOALS make innovation a top priority in Central Ohio
Message from E. Gordon Gee
GEE continued on page 11
Battelle’s 80-year commitment to the central Ohio community dates to the will of Gordon Battelle, which funded the establishment of what today is the world’s largest independent research and develop-
ment organization. In fact, Gordon’s will mandates Battelle’s mission as being “for the benefi t of mankind.”
Over the years, we have contributed hundreds of millions of dollars to the central Ohio com-munity, from education grants to United Way to COSI, and we’re proud to play a leading role in fostering the growth of STEM schools with our community partners.We lend our scientifi c expertise to TechColumbus because we know that innovation and partner-ships go hand-in-hand, and the collaborative e" orts TechColumbus is leading are critical to the growth of the area economy, the creation of high paying jobs, and the attraction and retention of talent. Having worked in three major R&D centers elsewhere in the United States, I know how critical it is to have collaborative community leadership to create and help drive economic growth, and I applaud your e" orts to bring talent, funding and leadership to the table as we pursue our goal of making this area a national center of science and technology innovation.
Message fromJeff Wadsworth
PresidentThe Ohio State University
President & CEOBattelle
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ACTIONS BIG AND SMALL harmonize to foster innovation
Whether they do it directly through research and development, or indirectly by supporting those who create new products and services, educators, researchers, government offi cials, health care workers, nonprofi t organizations and corporations all play their parts in fostering innovation in the region.
Columbus-based Chemical Abstract Service (CAS) has been a supporter of innovation in Central Ohio as well as the rest of the nation for decades. CAS, which celebrated its 100 year anniversary in 2007, has provided generations of scientists with unparalleled access to one of the most comprehensive collections of chemical information in the world.
One of the ways CAS supports the local tech community is through its leadership’s contribu-tion to the region’s boards of directors. CEO
Robert Massie has served on the TechColum-bus board since the organization’s inception in 2005, and prior to that, he served on the board of the Columbus Technology Council which in 2005 merged with the Business Technology Center to form TechColumbus.
“An organization such as TechColumbus is key to facilitating the connections that advance Central Ohio’s tech community and allow the region to build upon the knowledge of every-one,” Massie said. “CAS was one of the found-ing organizers of TechColumbus. We believe it is vital for our region to have a technology-oriented economic development organization like TechColumbus.”
Pipeline to a tech-based economyFostering innovation begins early in Central Ohio. A tech-based economy depends heavily on talented employees, and the region’s aca-demic institutions place a high priority on pre-paring the next generation of professionals.
Metro High School in Columbus was created in 2006 by a partnership between Battelle, Ohio State University and the Educational Council, an alliance of the 16 Franklin County school districts.
Front and center of Metro’s curriculum is the STEM program (science, technology, engineer-ing and math), which provides students with knowledge and critical thinking skills. So valu-able to their ability to advance business strate-gies and competitiveness, these skills form a foundation for building their own careers.
“At Battelle, we believe that STEM skills are necessary for everyone,” said Diana Wolter-man, Battelle Education Project Manager in Residence at Metro.
STEM is not a group of courses, but a way of thinking and a set of skills that help students to get into and succeed in college. “There is a shortage of STEM-literate employees and in-creasing the number of students with the abil-ity to go into STEM careers is good for Battelle, our community and our country,” she said.
Metro High School’s business internship class is a great example of the school’s pipeline from education to innovation, Wolterman said. “I’m currently working on placing 30 of our students with partner organizations so they can experi-ence career fi elds and start to network with professionals.”
Innovation doesn’t just happen – like anything of value, it needs to be encouraged and nurtured. From specialized medicine to advanced materials
to sophisticated information technologies and software, Central Ohio’s innovation community is a mosaic of organizations, companies and the people behind them – all working to advance technology and infl uence our future.
“An organization such as TechColumbus is key to facilitating the connections that advance Central Ohio’s tech community and allow the region to build upon the knowledge of everyone.”
Robert Massie, CAS
ACTIONS continued on page 7
Columbus Metro High School students Kamara Willoughby, Wenliang Fu, Katarina Stone, Charisma Boamah.
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ACTIONS BIG AND SMALL harmonize to foster innovation
On the other end of the pipeline, Entro-tech Inc. is one company that sees the potential of talented students and helps them develop into top-notch employ-ees. Entrotech CEO James McGuire says his advanced materials company taps the incredible resources of the nearby OSU chemistry department. “We’re very focused on our intern program,” said McGuire. “The student talent in our area is second to none.” Entrotech has estab-lished a foundation to develop promising interns’ skills.
McGuire said the skills of his innova-tive staff – whether in creating new microbes, inventing better ways to store data or even developing new ways to protect a vehicle’s paint – enables Entro-tech to compete on a global scale.
From research to marketplaceTranslating research into marketable products that enhance the quality of life for everyone is an important way innova-tion and technology go hand-in-hand in our region.
Columbus-based startup, Traycer Diag-nostic Systems, is doing its part to ad-vance the detection and prevention of cancer with research and commercial-ization of new techniques based on the power of terahertz radiation.
“Terahertz radiation has been shown in pre-clinical studies to have a high specifi city and sensitivity for detection of breast cancer,” said H. Lee Mosbacker, Traycer’s Chief Technology Offi cer. An OSU technology licensee, Traycer is de-veloping products that would allow tera-hertz techniques to be applied to a wide range of practical applications.
Technology commercialization is a major focus at The Ohio State University Medi-cal Center. “Innovation at OSU fosters commercialization when discoveries lead to new products,” said Wiley ‘Chip’
Souba Jr., Senior Vice President and Executive Dean for Health Sciences and CEO of the Medical Center. “When OSUMC builds commercial partnerships with TechColumbus and others, it en-courages discovery and innovation be-cause people from the business and academic worlds collaborate and share ideas, which enhance further innovation and creativity.”
Jean E. Schelhorn, OSU Associate Vice President of Commercialization, said the Medical Center is not an incubator for
startups as is TechColumbus, but sev-eral tech-based startups began there. One of these is EXCMR Ltd., founded by cardiologist Lon Simonetti. Simonetti was recruited to OSU through support from the Cardiovascular Bioengineer-ing Enterprise, an initiative dedicated to establishing the state’s preeminence in cardiovascular technology and funded by Ohio Third Frontier.
EXCMR is a developer of medical devices that enhance cardiovascular magnetic resonance imaging (MRI). The compa-
ny’s researchers invented the fi rst MRI-compatible treadmill, which overcamethe obstacle of magnetism in the MRIin order to diagnose heart disease whilethe patient is undergoing stress test-ing. EXCMR was named the winner ofTechColumbus’ Innovation Award forOutstanding Startup Business in 2008.The company also received a commer-cialization funding grant from the GlobalCardiovascular Innovations Center thisyear.
ACTIONS continued from page 6
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community and commercializing
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Join the movement.Membership in TechColumbus provides insight and community to help companies and professionals succeed—fortune 500s, small startups, and everyone in between.
Why join TechColumbus?TechColumbus provides information, community and support designed to help businesses and individuals grow. As a TechColumbus member company, your full-time employees receive the full benefits of membership, and are welcome to participate in our events and programs.
networking and professional development events each year.
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The center, which opened in June, already hosts several new businesses including Hiring Force, a staffi ng ser-vice, and eProximiti, an electronic marketing company. Chrysler was pleasantly surprised when these startups began partnering with New Albany’s large, established companies. “We didn’t anticipate the extent to which these businesses would provide products and services that enhance existing businesses,” she said. Collaboration and partnerships are so critically im-portant to gaining momentum and building a thriv-ing business community, particularly in the current economy,” said Will Indest, TechColumbus Vice President of Venture Development. Ohio businesses and other stakeholders in the region understand the impor-tance of an innovation-focused business development culture that depends on the collabo-ration with others to make it happen.
“We do have a lot of partnerships,” said Colleen Gilger, Economic Development Administrator for the City of Dublin. Dublin is home to the Dublin Entrepreneurial Center, which like the New Albany Business Center, is a development hub for startups and was created in partnership with TechColumbus. Gilger said Dublin is working hard to foster strong partnerships between the community’s established businesses and the startups. TechColumbus works with the city to encourage estab-lished businesses to get involved by offering classes and providing free or discounted services to the startups that the Dublin Entrepreneurial Center attracts. Rea & Associates, a Dublin accounting and fi nancial services fi rm, hosts classes and offers its services. DHB Net-works, which provides citywide WIFI service, is a partner who offers its service free to the center.
“We have a great relationship with the City of Dublin,” said Rick Coplin, TechColum-bus Business Development Specialist whose offi ce
is located in the Dublin Entrepreneurial Center. One of the center’s big success stories is Vitality Distribut-ing, Inc., a tenant of the center and creator of Avitae energy water. The center and Dublin helped Vitality by connecting the company with the Center for Innovative Food Technology and the Small Business Development Center which provides technical and business expertise to small businesses in the region.
Public and private sector partnersWhat’s so incredible is the number and breadth of public and private industry entities who contribute in a variety of ways to the region’s innovation economy. They do so because of the tremendous benefi ts they see to the region in terms of economic growth and the creation of “knowledge economy” jobs across the region.
“The Franklin County Commissioners are very focused on start-up businesses,” said James Schimmer, Director of Franklin County’s Economic Development and Plan-ning Department. He said the county relies heavily on TechStart to reach this goal and contributed $200,000 this year toward pre-seed funding. The county also helps companies including tech startups that gradu-ate from the TechColumbus TechStart program by making available tax incentives provided through En-terprise Zones and Community Reinvestment Areas.
New Albany’s director of development Jennifer Chrysler says she was thrilled when the village partnered with
TechColumbus to create the New Albany Business Development Center, a facility to assist and encourage startups. The village had already successfully convinced Fortune 100 companies to establish headquarters and facilities within New Albany. They wanted to create an economic climate that would support smaller businesses and startups.
“TechColumbus is one of the top ‘go-to’ organizations when we are contacted by an out-of-state tech company looking to locate in Franklin County... ”
James Schimmer, Franklin County
PARTNERSHIPS continued on page 11
PARTNERSHIPSLAYGROUNDWORKfor solid innovation economy
Louise Rodino, Nancy Davis and Janaiah Kota - Nationwide Children’s Hospital
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Inspiration. Expertise. Innovation.
That’s Buckeye pride!
DO SOMETHING GREATosu.edu
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Public and private partners have been work-ing hard to create a fertile ground in which to grow and attract high technology companies and industries.
Cooperative efforts between TechColumbus and local governments such as Dublin, New Albany, Franklin County, City of Columbus and others, as well as private and public partners such as Ohio State, Battelle and many of the region’s top corporations, are creating pockets of innovation throughout the region. Many are in the forms of ndustrial parks and entrepreneurial incubators whose goals are similar to TechStart, TechColum-bus’ fi rst cradle for tech-based businesses.
These tech corridors are more than physical locations for businesses. Their campuses host a vast repertoire of resources, from the technical and operational, to educational, to funding op-portunities available through Ohio Third Frontier dollars and a rapidly growing number of private capital funds.
Partnerships create a bond within the com-munity that allows the people who drive our innovation successes to learn from each other and grow from the strength of that collabora-tive energy.
TechColumbus is a bridge builder in the tech community, bringing together major players and startups, entrepreneurs and capital, technologists and business strategists. Nationwide Children’s Hospital, for instance, links to the local high tech community in part through deep connec-tions with TechColumbus – from Nationwide Children’s Hospital CEO Steve Allen’s presence on TechColumbus’ board to employee participation in education programs and events.
“We see the collaboration with TechColumbus as being very important to our developing our tech commercialization initiative at the hospi-tal. There’s a synergy in having like-minded people with different skill sets work together toward common purposes,” says Allen.
Those at Dublin Entrepreneurial Center, New Albany Business Development Center and all of TechColumbus’ partners are doing everything they can to help innovation businesses and help people connect with to each other so they have the best opportunities to fl ourish. Opportunities to partner with TechColumbus and other organizations in the region’s tech community abound. One of the best ways to stay connected to those opportunities is through TechColumbus’ Web site: www.techcolumbus.org.
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The county also refers to TechColum-bus companies that can benefi t from its services. “TechColumbus is one of the top ‘go-to’ organizations when we are contacted by an out-of-state tech company looking to locate in Franklin County, or someone locally who has a great idea but doesn’t know where to turn,” Schimmer said.
All about businessIn addition to collaborations that ex-pand funding, referrals and technical assistance, partnerships are bringing greater awareness and marketing pow-er to the region’s tremendous economic assets, including the emerging technol-ogy sector.
Ty Marsh, president and CEO of the Co-lumbus Chamber says the community worked together to host reporters and media when Forbes Magazine named Columbus the No. 1 Up-and-Coming Tech City in the United States, in March 2008. “We brought in reporters to tour Central Ohio,” he said, and spread the word about what a great region Central Ohio is by touting its amazing tech re-sources and businesses such as Battelle, OCLC, Sterling Commerce, TechColum-bus and many others
In addition, TechColumbus collaborates with the Chamber as part of a 24-mem-ber team charged with developing a strategy to grow the region’s logistics industry, which is now under full imple-mentation. “The logistics industry has been the focus of economic develop-ment in the Columbus region for many years,” said Marsh. “This long-range strategic plan really focuses our commu-nity’s efforts to ensure that this industry is sustainable and that our community makes the most from an opportunity that is unique to Columbus.” The logistics industry in the region, made up of the eight-county metropoli-tan statistical area, already accounts for 100,000 jobs and nearly 14 percent of the region’s private sector employment. Expanding this capability and strength-
ening the logistics technology assets within the region can further build the Columbus area’s logistics industry com-petitiveness. Partnering for a win-win for everyoneAside from government and munici-pal support, Central Ohio innovation receives a huge boost from industries whose lifeblood is dependent on a highly educated and technologically advanced workforce. Nationwide Chil-dren’s Hospital is one example of such an entity within the health care industry that both encourages and benefi ts from partnering with the region’s innovation community.
The nationally ranked Research Insti-tute at Nationwide Children’s Hospital is focused on developing new tech-nology in products and health care delivery to improve the quality of life for children everywhere. Commercial-ization of research to create products and systems is a strategic imperative and an investment focus for the or-ganization.
“We have a lot going on, and a strong desire to work with local companies,” said Dr. John Barnard, President of the Research Institute. TechColumbus has been “exceedingly helpful” to Chil-dren’s Hospital in the commercialization of new products developed there, Bar-nard said. Barnard adds that “these are the early days of working with Central Ohio’s tech community,” and he can only see more involvement and contin-ued growth in the future.
PARTNERSHIPS continued from page 9
PARTNERSHIPSLAYGROUNDWORKfor solid innovation economy PARTNERSHIPS FOR GROWTH
“... key to the continued growth and development
of our region.”
TY MARSH | Columbus Chamber
By extending those e" orts and aggressively reaching out to establish new kinds of partnerships, we have an opportunity of a lifetime – to become the leading force for innovation and change in this state and this country. In collaboration with public and private partners of all sorts, we can become the hub of scientifi c and medical advances that directly improve lives and stimulate long-term economic growth. ! e most innovative and dynamic community in the nation. And the integrated resource for help in our neighborhoods and around the world. In Ohio State’s work to advance the greater good, one of our key partners is TechColum-bus. Working with TechColumbus facilitates the translation of research into results, and furthers our mission to be the transformative economic force for the region and beyond. Today, we have an unprecedented moment of opportunity. Together, we must move quickly, think creatively, and press forward with a common purpose that is unerring. One that will enable us to make good on our great promise.
Message from E. Gordon Geecontinued from page 5
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1 2 Advertising Supplement to Columbus Business First Faces of Innovation - TechColumbus annual report 10.23.09
The good news is that Central Ohio technology en-trepreneurs still have a wide array of capital resources and funding available for all phases of their startups’ growth. The TechColumbus TechStart team assists in moving innovations from the idea stage to the in-vestment stage, including funding tools that give the most promising ideas a chance at achieving measur-able returns through commercial success.
Since 2001, TechColumbus and its predecessors invested $11.5 million in 67 Ohio technology compa-nies through its venture and angel investment funds. Those companies subsequently raised more than $245.9 million in follow-on capital from investors, grants and other sources during that period.
“The fact that our Ohio startup portfolio companies have raised almost a quarter of a billion dollars over the last eight years shows that innovation is thriving and risk capital is accessible in Ohio,” said Will Indest, TechColumbus Vice President of Venture Develop-ment. “However, as the region continues to produce more and more venture-ready companies, additional local investment dollars and entrepreneurial talent are needed as well,” he added.
In fi scal 2009 alone, those companies raised more than $28 million and reported more than $55 million in revenue.
Funding SourcesTechColumbus assists tech companies with fund-ing in several ways: It invests directly in promising companies, informs them about additional funding sources, assists with grant applications and provides coaching and technical assistance to prepare com-panies for angel and venture capital due diligence. TechColumbus’ direct investment funds are Tech-Genesis, The TechColumbus Pre-Seed Fund II and The Co-Investment Fund. Other funding sources include angel and venture capital groups such as The Ohio TechAngels, Reservoir Venture Partners, NCT Ventures,Fletcher-Spaght Ventures and The Ohio Capital Fund (a fund of funds) and state funding through The Innovation Ohio Loan Fund; The Global Cardiac Innovation Center; and the Ohio Technology Investment Tax Credit.
Starting a tech company is tough. You start with a great innovation, then you have to build a client base, hire employees, fi nd offi ce
space, and more. There are plenty of hurdles to overcome, but one that many entrepreneurs fi nd most daunting is raising capital, especially in this challenging economy.
“The fact that our Ohio startup portfolio companies have raised almost a quarter of a billion dollars over the last eight years shows that innovation is thriving and risk capital is accessible in Ohio.”
Will Indest, TechColumbus
Where Angels Tread
FUNDINGACCELERATESREGION’S tech economy
Everybody wins when companies win funding. Once they make it past initial hurdles, startups that have a proven product or service may be ready for angel funding. In
performing due diligence on companies, angel fund members determine whether a company has the potential to reap a return on investment.
Susan Rector, Ohio TechAngel member and leader of the Intel-lectual Property Practice Group at Schottenstein Zox & Dunn Co. LPA law fi rm in Columbus, has served on various due diligence committees for Ohio TechAngels.
“We look at the company’s management, competition, technol-ogy, sales and marketing, fi nance, size of the opportunity and exit strategy,” Rector said. “Exit strategy is important because investors get paid if the company is sold or merges. There could also be an initial public offering, but those exits are rare in this economic climate.”
Rector most recently served on Ohio TechAngels’ due diligence committee reviewing Znode, a Dublin-based company that develops and markets its fl exible, online storefront platform to advertising and web-design agencies and large enterprises.
“We looked at Znode because its technology created a superior product at a lower price that is faster and easier to implement than other e-commerce storefront platforms, and the company had 200 paying customers at the time,” Rector said.
Znode fi rst used a Regional Commercialization Fund loan to get the company ready for external funding. “Due diligence involves looking at whether the company has the right people, the right plan and the right product to be commercially successful,” Rector said. The company’s experience in fi elding questions from the Ohio TechAngels’ due diligence team has prepared it for its con-tinuing efforts to attract funding from other angel groups around the state, including North Coast Angels based in Cleveland.
Curtis Crocker, Reservoir Venture Partners; John Huston, Ohio Tech Angels; Peter Kleinhenz, Fletcher Spaght Ventures and Rich Langdale; Andy Mansinne; Jeff Lamb; Laura Brooks of DoMedia.
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Advertising Supplement to Columbus Business First 1 3 Faces of Innovation - TechColumbus annual report10.23.09
Ohio TechAngelsThe Ohio TechAngels (OTA), based in Colum-bus, was formed in 2004 by 50 accredited investors to provide a unique statewide public-private investment partnership aimed at fi nd-ing, funding and mentoring Ohio’s most prom-ising technology entrepreneurs. Since then, it has leveraged its two Ohio Third Frontier grants to attract more investors and establish multiple funds. Today OTA has more than 200 members, making it the second largest angel group in North America.
OTA has two funds that are managed by Tech-Columbus and is raising a third fund. The group has established a co-investor network that has brought even more funding to OTA’s 25 port-folio companies. The Ohio TechAngel Funds, OTA members, co-investing angels, venture capital fi rms and other follow-on funders have, in total, provided $96 million in capital to these companies. OTA’s portfolio companies have combined revenue of $88 million and employ 304 technology workers at an average annual salary of $75,800.
John Huston, the group’s founding member, is optimistic about the future. “We’ve had won-derful support from Ohio Third Frontier, and the pace of initial and sidecar investment continues unabated despite an ambiguous economy,” Huston says. “The quantity and quality of the deal fl ow is the best we’ve ever seen.”
Other angels Because of networking among organized funds across Ohio, angel groups can benefi t from the due diligence of others and this leads them to frequently co-invest on deals. For example, North Coast Angel Funds might invest in a TechAngels’ deal, as might Queen City Angels. Likewise, TechAngels might invest in a deal led by one of them. This cooperation leads to deals of up to $1.5 million to $2.0 million.
Local Venture Capital fi rmsReservoir Venture PartnersReservoir Venture Partners (RVP) is a Colum-bus-based venture capital fi rm that brings capital, business building acumen, and a strong network of advisors to entrepreneurs and their team. The fi rm’s focus is to identify, invest in, and help build early stage information technol-ogy companies. RVP targets investments in companies with an emphasis on health care, information technology and clean technology. The fi rm provides entrepreneurs of its portfolio companies with guidance in all key aspects of operations, governance and strategy.
“We are strongly focused in Ohio. Our limited partners have a strong interest in the region,” says Steven Jaffee, general partner with RVP. “The deals are backed by large well-known institutions that support the core of the Co-lumbus economy. There also has been a lot of investment support from the state of Ohio, which has supported TechColumbus. The state has done well making smart investments to grow early-stage technology in the region. It’s good to see an increasing fl ow of follow-on funding and promising entrepreneurs moving through the system.”
NCT VenturesNCT Ventures was created in 1986, when founder Rich Langdale began the company Digital Storage Inc. Since then, it has helped create many successful companies by support-ing early-stage ventures in early growth op-portunities. The company recently expanded its team to address those growing opportunities, Langdale says. “We look for opportunities that allow us to get involved early, apply our opera-tional expertise and exit with great returns for our investors,” he says. Though NCT has had success in many different industries, its primary focus is on marketing, logistics and companies using technology to make a marketplace more effi cient. “Regardless of the industry, we are always looking for companies that are highly scalable, have a large and expanding market, have a sustainable competitive advantage, disrupt traditional business models and have a strong management team,” Langdale says. “An idea is only as good as the person behind it. At NCT Ventures, we invest in people fi rst, ideas second.”
Fletcher Spaght VenturesBoston-based Fletcher Spaght Ventures opened a satellite offi ce in Columbus in 2008 when it started Fletcher Spaght Ventures II, the result of a joint investment from the Ohio Capital Fund and Battelle. “Ohio has tremendous investment potential and Columbus is one of the cities that represent that potential,” says Michelle Murcia, who recently led the Fletcher Spaght’s Ohio operation and continues to work closely with them as Vice President of Finance & Administration and CFO for TechColumbus. Peter Kleinhenz, an experienced venture capi-talist, joined the Fletcher Spaght team this year as a Venture Partner in Ohio. “Columbus has access to tremendous research and develop-ment from a number of institutions focused on technology commercialization, including OSU, OhioHealth, Battelle and Nationwide Children’s Hospital.” Kleinhenz added, “There are sig-nifi cant opportunities to leverage intellectual property and develop sustainable businesses in Central Ohio.
The Ohio Capital FundAnother fund deeply committed to Ohio’s early-stage companies is The Ohio Capital Fund (TOCF). TOCF is a state-sponsored initiative that invests in venture capital fi rms that com-mit to invest in Ohio early-stage companies. At least 50 percent of all money TOCF invests in venture capital funds – no matter where the funds are located – is reinvested into Ohio companies. Historically, TOCF venture funds have signifi cantly exceeded their 50 percent investment commitment in Ohio Companies.
Paul Cohn, Vice President & Regional Director for Fort Washington Capital Group and TOCF, says TOCF is gearing up for future funding of current early stage companies. “What is dynamic about Central Ohio is that Ohio Third Frontier has provided funding to TechColumbus and the Ohio TechAngels that has resulted in a large increase of funding for very early-stage companies,” he says. “The challenge is that all of those companies will need continued funding for growth, and that is what we are here for.”
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Offer valid for new business customers only with a minimum two-year agreement. Includes high-speedInternet, minimum one line of Business Class Phone service with the unlimited local and nationwide long dis-tance calling plan (in the United States, Canada and Puerto Rico), and Cable TV. If additional lines are purchased,discounted rates will apply to each additional line for the unlimited local and nationwide long distance planonly, up to 12 lines. Discount does not apply to Cable TV premium channels. Standard installation and construc-tion rates (if applicable) apply. Offer not transferable and may not be combined with any other offer. Excludesapplicable taxes and fees. Early termination fee may apply. After two-year term agreement ends, standard pric-ing will apply for all services and phone lines. Business Class Phone does not include back-up power and shouldthere be a power outage, Business Class Phone, including the ability to access 911 services, may not be avail-able. Additional charges apply for taxes, fees, Directory Assistance, Operator Services and calls to Internationallocations. Offer valid for new business customers in Business Class Phone serviceable areas. Offer may not beavailable in all areas. Some restrictions apply. Time Warner Cable Business Class reserves the right to discontin-ue any feature or offer at any time. Subject to change without notice. Contract must be signed by 12/31/09 totake advantage of the offer. Products and services not available in all areas. ©2009 Time Warner Cable, Inc. Allrights reserved. Time Warner Cable Business Class is a trademark of Time Warner Inc. Used under license.
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ANGELANDVENTURE capital funding
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Central Ohio:Pumping More and More Winning Ideas Every Day.
Central Ohio’s innovation economy is surging forward. Built ona deep foundation of technology assets in industry, healthcare and research, this #1 up-and-coming tech region (Forbes,2008) is realizing its potential. And with the support of the OhioThird Frontier and many local partners, TechColumbuscontinues to assist a growing pipeline of opportunities that willonly add to the region’s impressive results.
In 2008, 57 companies received funding—up from 37 in 2007.Venture investment increased by 9.1% over the previous year.
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Invested directly in technology startup companies
Capital Raised by Funded and Incubated Companies
Revenues Generated by Funded and Incubated Companies
912 Jobs Created by Funded and Incubated Companies
$62,393 Average Annual Salary of Jobs Created
* Impact as of September 2009 for the TechColumbus Incubator and managed funds, the OhioTechAngels, and the Co-Investment Fund.
And pre-seed and seed-stage deals more than doubledwith the support of investments made by Ohio TechAngels,the second largest angel investment group in the nation.
As the catalyst, TechColumbus is accelerating companycreation, attracting investment dollars and increasingbusiness revenues and high paying job opportunities.
We’ve got the numbers to prove that the impact is signifi cant.And we have the mission, programs, and the investor support to keep the results fl owing.
To see what’s in the pipeline, visit:
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1 6 Advertising Supplement to Columbus Business First Faces of Innovation - TechColumbus annual report 10.23.09
TECH STARTUP FUNDING CONTINUUM
TECHGENESIS / 2
FED GRANT ASSIST / 1
CO-INVESTMENT FUND / 4
OTAFTT / 5 VENTURE CAPITAL / 6 M&A OR IPO / 7
State or Federal
PRESEED FUND II / 3
SBIR I / 10
RESEARCHGRANTS / 8
SBIR II / 11
TECHNOLOGY INVESTMENT TAX CREDITTT / 9
LOAN FUND / 12 OHIO CAPITAL FUNDTT / 13
OHIO-MIDWEST FUND / 14
processes incommercial rr context
MARKET ENTRYto prove
to generatefinancial returns
Central Ohio entrepreneurs now have a wide ar-ray of capital resources available at all phases of their tech startup’s maturity. From the earliest stage when an idea is identifi ed, called “imagining”, through market entry and business growth, these resources give entrepreneurs and companies the opportunity for success. The diagram shows what resources are available across Central Ohio’s Tech Startup Funding Continuum. Summarized below are descriptions for each.
CENTRAL OHIO ENTREPRENEURIALSIGNATURE PROGRAM (TECHSTART)
The Ohio Third Frontier TechStart program has four investment funds to address funding needs at the most critical stages of startup development. Thesepre-seed and seed funds are intended to give en-trepreneurs the opportunity to validate the com-mercialization potential and build the management infrastructure needed to attract follow-on funding.
Federal Grant Proposal SupportIn addition to investment funds, the Ohio Third Frontier TechStart program provides funding and as-sistance to Central Ohio companies seeking to access grants related to Small Business Innovation Research (SBIR), Small Business Technology Transfer (STTR) and other federal small business development funding areas. (www.techcolumbus.org)
TechGenesis FundTechGenesis is a grant fund to transition early-stage, research-driven technologies from the concept stage into true commercialization activities. Grants are available to researchers, inventors, and entrepreneurs. Funds must be used for commercialization activities such as validation, market identifi cation or defi nition, prototyping, IP analysis and/or development, and regulatory research. (www.techcolumbus.org)
Pre-Seed Fund IIThis fund enables promising technology startups to complete the steps necessary to attract follow-on funding from venture capital fi rms and other sources. The process focuses on incubating Central Ohio tech-nology startups that have the reasonable expectation of reaching $30 million in revenue in three to seven years and address a market of at least $100 million. (www.techcolumbus.org)
The Co-Investment FundThe purpose of the $2.5 million Co-Investment Fund is to bring more local investment dollars into selected OTAF II or Pre-Seed II companies, amplifying the value of the pre-seed or angel investment round and expanding opportunities for regional tech-based eco-nomic development. (www.techcolumbus.org)
Ohio TechAngel Funds (OTAF)The Ohio TechAngel Funds are contributed capital and “sidecar” angel funds targeted to qualifi ed entrepre-neurs with late incubating and demonstration phase technology companies. OTAF is the second largest angel fund in the country. Portfolio companiesmust be located in, or willing to move to Ohio, prefer-ably Central Ohio. TechColumbus provides manage-ment services for the Ohio TechAngel Funds. (www.ohiotechangels.com)
MARKET SOURCESVenture Capital
Venture capital is a fundraising source for companies who are willing to exchange equity for capital to grow or expand the business. Venture capital fi rms typically invest in the market entry stage or later. Venture fi rms typically invest in the market entry stage seek opportunities with the strong likelihood of a high return on investment within fi ve years or less. Some examples of Venture Capital funds in Central Ohio include: Reservoir Venture Partners (www.reservoirvp.com), NCT Ventures, (www.nctventures.com), Adena Ventures, (www.adenaventures.com), CID Capital (www.cidcap.com), Fletcher Spaght Ventures(www.FletcherSpaght.com), and Athenian Venture Partners (www.AnthenianVP.com.)
Access to capital resources in Ohio now spans many sources. In addition to the Ohio Third Frontier TechStart program,
Ohio has a host of grant funding and capital access programs in place to facilitate innovation, collaboration and the commercialization of promising research and technologies.
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Advertising Supplement to Columbus Business First 1 7 Faces of Innovation - TechColumbus annual report10.23.09
M&A or IPOMergers, acquisitions and initial public offerings (IPOs) are typical for founders, early investors, and other stakeholders to “cash out” or receive returns from capital they committed in growing a company to this stage.
Mergers typically take place with a strate-gic partner where the value of accessing each other’s customers and synergy of combining operations provides an oppor-tunity for growth beyond what the com-panies would be capable of individually. Acquisitions usually involve the purchase of a smaller company by a larger fi rm. An IPO is the fi rst sale of stock by a private company to the public. IPOs are issued by small, young companies seeking capital to expand, but may also involve large privately owned companies looking to become publicly traded.
STATE OR FEDERALResearch Grants
There are numerous research grants avail-able from state and federal sources that include, basic discovery, translational re-search, technology validation and devel-opment. Many of these federal grants can be accessed from www.grants.gov and many of the Ohio research and commer-cialization grants can be found at www.thirdfrontier.com.
Ohio Technology Investment Tax Credit
The state’s Technology Investment Tax Credit enables Ohio taxpayers who invest in small, research and development and technology-oriented Ohio-based fi rms to reduce their state taxes by 25% of the amount invested in qualifi ed tech com-panies.
The company and the investor must beapproved before the investment is made and the company cannot currently have more than $2.5 million in revenues or net book value. Eligible companies may receive up to $1.5 million in investments from approved investors and Ohio must be their principle place of business. (www.odod.state.oh.us/tech/titc/)
Small Business InnovationResearch (SBIR I and II)
These grants provide federal funding to small, high technology businesses to per-form research and development projects that meet federal agency mission needs. These grants issued in the fi rst phase are approximately $100,000 and then $750,000 in the second phase. (www.sbirworld.com)
Innovation Ohio Loan FundThe Innovation Ohio Loan Fund assistsOhio companies having diffi culty securing funds from conventional sources due totechnical and commercial risk factors in developing new products. The program provides competitive fi nancing terms on loans to fi nance the acquisition, construc-tion, and related costs of technology, facilities, and equipment. Typical loans are between $500,000 and $2 million. Since its conception in 2004, over $60 million in loans have been committed from this fund. (www.thirdfrontier.com)
The Ohio Capital FundThe Ohio Capital Fund is designed to increase the amount of private investment capital for Ohio companies in the seed or early stage of business development by creating a “fund of funds” portfolio of seed and early stage capital investments. The fund is currently at $150 million from private sources for invest-ment and to date more than $111 million in capital has been committed to 21 investment funds,17 of which have an Ohio presence.
The Program is overseen by the Ohio Venture Capital Authority (OVCA) and is managed by Buckeye Venture Partners, LLC.(www.ohiocapitalfund.com)
Ohio Midwest FundThe Ohio Public Employees RetirementSystem (“PERS”) and Credit Suisse createdthe Ohio-Midwest Fund to encourage thegrowth of small businesses within thestate of Ohio and the surrounding Mid-west region. This fund of funds is capital-ized with $100 million from PERS and $2million from Credit Suisse. As of January2007, it has made investments of over$72 million in over a dozen funds . (www.ohioinvestmentfund.com)
wide open opportunities.
FEATURED TECHNOLOGY COMPANIESNFOCUS CONSULTING, INCcustomized software development and data center
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AEROSPORT MODELING AND DESIGNappearance models and prototype parts
INTERACTIVE CARE NETWORK, LLCcustomized software for the healthcare industry
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BRING BIG IDEAS TO A LOCATION THAT BREEDS INNOVATION.
FAST TRACK YOUR BUSINESS SUCCESS. Contact the Fairfield 33 Development Alliance for comprehensive business assistance. Call us at 740.652.1546 or visit fairfield33.com/requestinfo
Whether your organization is just starting or already thriving, the Fairfield 33 Corridor helps bring your technology and innovation-focused ideas to fruition with access to:
Educational and research resources from Ohio’s largest universities
A regional workforce totaling nearly one million and a local workforce of approximately 270,000
TechColumbus’ TechStart mentoring program for young tech-based companies in the central Ohio region
A sophisticated transportation network that makes it easy to move people throughout the region, country and world
High quality, high speed fiber optic Internet connections
A variety of local, regional, state and national programs that offer low-interest financing and financial assistance for hiring and training employees
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1 8 Advertising Supplement to Columbus Business First Faces of Innovation - TechColumbus annual report 10.23.09
Over the past few years, TechColumbus has come into its own as the Central Ohio catalyst through which a coalition of industry, academic and govern-ment leaders can accelerate tech-based growth, says TechColumbus CEO Ted Ford.
Ford says the focus for future economic develop-ment efforts will be on continuing to expand and leverage key strengths and partnerships in the region.
“Ohio State University is ranked No. 2 in the coun-try in terms of industry-sponsored research, and it is renewing its focus on the development of a re-search park. The university is attracting companies to the region to work with them, so it makes sense for those companies to create R&D operations lo-cally that can take full advantage of the faculty, students and other resources at the university. TechColumbus is working with the university to help make that happen,” Ford says.
“Both organizations have at least one goal in com-mon, to provide a real advantage to the region,” says Caroline Whitacre, OSU’s Vice President for Research.
OSU is also expanding its Offi ce of Technology Licensing and Commercialization offi ce to better leverage the $700 million in funding its researchers bring in. Additionally, Whitacre points to the recent establishment of the Industry Liaison Offi ce, led by Sharell Mikesell, as the new point of focus for the university’s commercialization efforts.
“We really needed to provide a front door for indus-try to come in and engage Ohio State. Also, when
• Early-stage venture capital funding in Ohio has increased by 50 percent according to a study by the OSU Fisher Colleges Center for Entrepreneurship, while nationally, levels of seed and early-stage investment dropped by 20 percent.
• In Central Ohio, venture capital dollars invested in startups increased by 10 percent in 2008, according to TechColum-bus’ 2008 Innovation Capital Report.
• Following Forbes’ naming of Columbus the nation’s No. 1 up-and-coming tech city in the country in 2008, Entrepreneur Magazine named the TechColumbus business incubator among the top 10 in the nation in 2009
• In August, Columbus was among the top ten cities named in the U.S. News and World Report’s America’s Best Places to Find a Job 2009. The magazine cited strength in the health care and technology sectors as job drivers.
What’s driving this region’sgrowth and visibility?• The strength of Central Ohio’s research and technology base,
including both the volume of research at Battelle and OSU and the talent both institutions attract to the region. No other city has one of the nation’s top ten research universities across the street from the world’s largest nonprofi t indepen-dent research and development organization.
• The commitment of the region’s business, government and higher education leaders to support and grow the regional tech economy.
• The availability of entrepreneurial support and assistant through initiatives such as TechColumbus’ TechStart pro-
gram, a $22.5 million effort supported by Ohio Third Frontier and regional businesses, local governments, and higher education partners.
• Large investments by Ohio Third Frontier, OSU, Battelle and many businesses in the region accelerate the development and commercialization of cutting edge technologies. State investments have attracted millions of dollars in matching funds from industry and propelled OSU to one of the top universities in the nation in terms of industry sponsored research.
“The Third Frontier initiative has, in fact, been a game changer for Central Ohio and the rest of the state,” said Ted Ford, President and CEO of TechColumbus. “When I talk with my peers around the country, all are envious of the commitment the state has made to technology-based economic development.”
Recent studies by the Ohio Department of Develop-ment (ODOD) estimate that every $1 invested by Ohio Third Frontier has generated about $9 in di-rect corporate investments, grants won by research institutions and other sources. “We’ve created and helped capitalize over 500 new technology companies and each one of them has the opportunity to be a spectacular success in the future,” says John Griffi n, ODOD Technology Division Director.
These numbers represent years of economic develop-ment work carried out by a coalition of corporate partners, government offi cials, academia and others. TechColumbus has worked with Ohio’s Third Frontier Program to invest funds, help entrepreneurs start and grow companies, and create connections between inventors, entrepreneurs, investors, and management talent.
“TechColumbus become a front door into all the tech programs the state and local communities have to of-fer,” Griffi n says. “At the state level, we don’t have the person power to interact with all the companies in the way they do.”
As the global economy begins its recovery, Central Ohio is positioning itself to capitalize on its opportunities as an emerging tech economy.
Consider the following:
PARTNERS continued on page 19
Partners in our innovation economy
CENTRAL OHIO A LEADER in economic development
Andy Strange, James McGuire, Donna Jeffers - entrotech
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Advertising Supplement to Columbus Business First 1 9 Faces of Innovation - TechColumbus annual report10.23.09
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Incubator plays key role in economic development
In June 2009, Entrepreneur Magazine named the TechColumbus incubator as one of the 10 best in the country. From its headquarters on Kinnear Road to satellite
facilities in Dublin and New Albany, TechCo-lumbus provides expert entrepreneurial sup-port and cutting-edge facilities to qualifi ed startup tenant companies in the advanced materials, bioscience and information technol-ogy fi elds.
“We have made tremendous progress in the past four years in terms of launching startups, said Ford. “We have learned a lot and gained considerable momentum. We have been able to not only fund many companies because of Third Frontier funds and local partners, but also have been able to attract signifi cant fund-ing from angel investors and venture capital fi rms from outside of Central Ohio, which is a very positive indicator,” says Ford.
The TechStart program has assisted 111 startups to date, giving them a head start to commercialization. Of those, 75 percent have reached sales success or commercialization. Already, its tenants have earned $87.4 million in combined revenue, resulting in high-paying jobs for 265 Ohioans.
Tech Corridor revisitedBuilding on work done by the City of Colum-bus in 2006, TechColumbus has worked with key stakeholders to develop a “TechCorridor” along State Route 315 near OSU and Battelle. in addition, new business technology parks are under development in Dublin and New Al-bany, and in planning stages along Route 33 south of Columbus. Rickenbacker is emerging as a center for advanced logistics. Over the next fi ve years, much of OSU’s West Campus may be transformed into a high density research park, with as much as 2 million square feet of lab and offi ce space where industry researchers will work side by side with OSU faculty and students to create new products. “The ultimate goal is simply to advance economic development in the region,” says OSU’s Vice President for Research, Caroline Whitacre.
The research park will complement the al-most 300,000 square feet of tech-friendly
space at 1275 Kinnear Road, the home of TechColumbus two dozen tech companies. OSU’s SciTech Corporation recently completed renovation of an additional 100,000 square feet of space in the TechColumbus building for use by incubator graduates and other tech companies requiring larger spaces.
The city of Dublin continues development of its 1,500-acre Central Ohio Innovation Center, a high-tech commercial/industrial park at the intersection of State Routes 161 and 33 in Dublin. The 40,000 square foot anchor build-ing at the site, known as the Dublin Entre-preneurial Center, includes a virtual incubator staffed by TechColumbus, as well as satellite locations for the Columbus State Community College Small Business Development Center, TechColumbus’ Platform Lab and tenants.
To the east, TechColumbus has partnered with the Village of New Albany to create the New Albany Business Development Center, which houses startups and serves as a central location for business services to entrepre-neurs in northeast Franklin, Licking, Delaware and surrounding communities. In addition to TechColumbus, the New Albany Business De-velopment Center provides access to the Ohio TechAngels, the Ohio Small Business Develop-ment Center, the New Albany Chamber of Commerce, Platform Lab and ActionCoach.
faculty want to fi nd the right industry on the outside to either work with for ad-ditional funding, or to collaborate with, that offi ce will function in that capacity as well,” Whitacre says.
TechColumbus also will continue to work with development partners like BioOhio, the statewide organization devoted to growing the bioscience in-dustry in the state, which is co-located with TechColumbus on Kinnear Road.
“Economic development across the state is robust in the biosciences. At TechColumbus, something like one-third or one-half of all companies at
the incubator are bio-related in one form or another,” says Tony Dennis, BioOhio’s President and CEO.
“Six years ago, Ohio was forming bio-science companies at the rate of six per year. In the last two years, that number is 58 per year. All of the statistics are going in the right direction, and a lot of the leadership is coming out of the Central Ohio area,” says Dennis.
PARTNERS continued from page 18
“...turning thoughts and ideas into solutions that make the world a better place. It’s only in freedom of imagination where ideas are turned into innovations.”
Alan Arman | 3X
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When it comes to using cutting-edge technology to connect with customers, Nationwide® is doing some pretty cool things.
Like our Nationwide Mobile app for iPhone and iPod touch. It helps customers start the claims process at the scene of the accident and allows them to share photos and other information that could help speed up the claims process — using their iPhone.
It’s just another way we’re using technology to allow customers to interact with us in ways that make sense for them.
Nationwide, the Nationwide framemark and On Your Side are service marks of Nationwide Mutual Insurance Company.
Available on the
Want to help create the next big innovation?nationwide.com/careers
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Advertising Supplement to Columbus Business First 2 1 Faces of Innovation - TechColumbus annual report10.23.09
While some might argue that old-fashioned, face-to-face networking may not be the best way to com-municate in a world of electronic messaging, it is still a powerful tool that can help build your business.
Leaders of companies of all sizes agree that Central Ohio offers a multitude of opportunities for personal interaction.
“I’d say that Columbus is in the top 10 percent of cities nationwide as far as technical-business resources for entrepreneurs,” said Hugh Cathey, founder of Co-lumbus-Partners, a growth strategy consulting fi rm.
That’s high praise from a seasoned entrepreneur whose experience with startups has taken him across the country, engineering the growth of industry gi-ants like Qwest Communications International and XO Communications, formerly known as Nextlink Mid-west, the second-largest competitive local telephone service provider in the U.S.
Columbus-Partners often works with TechColumbus to connect its clients with the region’s resources, from training to capital, Cathey said. The organization
routinely hosts events and gatherings of key members of support resources such as attorneys, accountants, fi nancial planners and others – all with experience in the tech industry and a keen interest in helping in-novation succeed in the region.
“Entrepreneurs tend to be so deeply involved in their businesses that they don’t spend time searching out other resources they need, so TechColumbus fosters an environment where entrepreneurs feel very com-fortable gathering with like-minded people,” Cathey said. Reaching out for capitalHaving orchestrated fi ve successful startup companies over the past twenty years, Alan Arman is familiar with the challenges facing entrepreneurs. Among his companies are LanSoft, a global email outsourcing company, and Nexus Technology Group. “When you have a startup company, it’s a lonely world out there,” Arman said.
Raising venture capital is something he had never faced alone before. His new company 3X is taking advantage of multiple TechColumbus resources, in-
cluding funding assistance. The company is a TechCo-lumbus incubator tenant and received help with initial fundraising, which is one of Arman’s most signifi cant boosts to date.
3X provides businesses with data management solu-tions. The company has had its products on the mar-ket for about a year and is in the process of expanding sales and marketing for a national rollout.
With Techcolumbus’ assistance, 3X raised three rounds of funding from Ohio TechAngel investors and from the TechColumbus Pre-Seed Fund. Arman says TechColumbus’ Entrepreneur in Residence pro-gram brought valuable advice that made the funding possible.
“I have been an entrepreneur all my life. But TechCo-lumbus brought a different type of experience. They have connections with venture capitalists and know what the venture capital investors are looking for,” Arman said.
Two-time Nobel Prize winner Linus Pauling once remarked before a gathering of scientists: “In some things, the old ways are still the best.” The
famed biochemist was referring to the sometimes tedious methods related to gene research, but his phrase rings true for networking as well.
“Entrepreneurs tend to be so deeply involved in their businesses, they don’t spend time searching out other resources they need, so TechColumbus fosters an environment where entrepreneurs feel very comfortable gathering with like-minded people”
Hugh Cathey, Columbus-Partners
“...inspiration. Innovation inspires
people to think out of the box and beyond what their perceived
JENNIFER CHRYSLER | City of New Albany
YOUMAYHAVE FACEBOOK,but don’t miss out on face time Stefphanie Harper, Stephen Anderson, Rick Coplin, Chris Anderson
– TechColumbus Venture Development Team.
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Advertising Supplement to Columbus Business First 2 3 Faces of Innovation - TechColumbus annual report10.23.09
CREATING NETWORKS OF SOLUTIONS
Michael Swartz, president of West-erville manufacturer Lakeshore Cryotronics, has been participating in TechColumbus networking pro-
grams for years.
For Swartz, TechColumbus events and services provide great learning opportunities for all com-panies because they facilitate sharing of best practices and provide other valuable learning opportunities.
Schwartz cites as an example the tremendous benefi ts made possible by sharing experiences regarding business spending. “Learning from the mistakes of others can save many man hours when you’re preparing to make similar purchases,” Swartz said. “In IT, people really see the need for collaboration because things are happening so fast it’s hard to keep up.”
Large companies benefi t as much as smaller ones, says Angelo Mazzocco, CIO of Progressive Medical, a Westerville-based medical cost con-tainment services company with 500 employees. Not only are many of Progressive Medical’s exec-utives participating in TechColumbus programs, but the company’s employees are urged to get involved as well. Mazzocco says that at least half of his IT staff has taken part in TechColumbus events and benefi ted.
“I can’t tell you how many times we have taken advantage of situations where someone else in the group has already fi gured out how to do something and because we’ve been in the meet-ing, we were able to adopt it. I see it as free consulting in some ways,” Mazzocco said.
Mazzocco said he was able to put into action a swine fl u disaster preparedness plan shared by Nationwide Children’s Hospital’s IT department at a TechColumbus CIO Forum.
Platform Lab – the IT test resource offered by TechColumbus – is active in bring-ing the IT community together through a variety of networking and educational
Every week, organizations host and attend tech-nical seminars presented by Platform Lab. Tech-nology vendors make presentations using the lab’s hardware. OEMs use the facilities for prov-ing their solution to prospective clients. Nonprofi t professional development organizations such as the VMware Users Group, the Project Manage-ment Institute, the Ohio Network for Health Care Information Assurance and the Information Sys-tems Security Association educate their members at events hosted Platform Lab at TechColumbus.
The dozens of technology-driven meetings at TechColumbus are providing unique technical education for local companies large and small, and are also spreading the word around the country about TechColumbus and its IT test and training resource Platform Lab, and the broad range of services the lab makes available to the tech community.
“We provide the best value to any company, any-where that wants to perform an IT test or project. Combined with a one-gigabit Internet connec-tion through TW Telecom and 14 load test tool vendors, Platform Lab has become the nation’s value leader for load and stress testing,”says Steve Gruetter, Platform Lab Director.
The Platform Lab Cloud provides up to 1,000 vir-tual machines allocated anywhere in the world and is driving businesses from around the world to TechColumbus to conduct test projects. For ex-ample, a data security administrator from Cleve-land Clinic attended a security seminar Platform Lab hosted at TechColumbus and immediately recognized the how to solve one of its pressing issues. Since then, the clinic has used the lab six weeks a year for the past six years.
“We want to bring people in here networking, sharing and learning,” Gruetter said. “And while they’re here, they are exposed to the resources offered by TechColumbus, which can give them another competitive edge to expand their busi-ness.”
“…I can’t tell you how many times we have taken advantage of situations where someone else in the group has already fi guredout how to do something.”
Angelo Mazzocco, Progressive Medical
DANA MCDANIEL | City of Dublin
“...the next great idea, be it technological or
Platform Lab team and attendees from recent TechColumbus events.
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2 4 Advertising Supplement to Columbus Business First Faces of Innovation - TechColumbus annual report 10.23.09
The more than 140 events, forums and symposiums TechColumbus holds each year form a big part of that virtual village green for the tech community, says Jim Hendrickson, Vice President of Corporate Development for Sterling Commerce.
“TechColumbus’ events and programs are educating the industry in this community, and are helping to incubate and bring along emerging capacity,” says Hendrickson. “They help bring the business, academic and technical communities together. For Sterling, all three of those things are very important.”
That’s why Sterling’s sponsorship and participation in many of those events is a true investment for the com-pany, Hendrickson says.
“TechColumbus gives us the ability to foster our investment in the community, gives us an outlet for employees who want to teach what they’ve learned, and also helps provide an ongoing stream of techni-cal people available to meet our company’s growth needs,” he says.
From small-format meetings, where open discussion and deep problem solving is the order of the day, to large, national-scale conferences with acclaimed experts, TechColumbus events are multiplying and gaining popularity every year. They also are sponsored by industry leaders like Microsoft, Timer Warner Cable, HP and VMWare.
Three premier conferencesAll three of TechColumbus’ premier events – the In-novation Awards, CIOhio and the Innovation Summit – have seen tremendous growth, says Tim Haynes, TechColumbus’ Vice President of Member Services and Marketing.
“The Innovation Awards started 12 years ago with 100 people during lunch. It’s grown to 1,000 attendees. That’s a refl ection of how many more people are en-
gaged and how vibrant the community has become. There has been a snowball effect, particularly in the past three to four years,” says Haynes.
November’s annual CIOhio event will bring 300 chief information offi cers and senior IT and business lead-ers together for a one-day conference to explore the theme: “Facing Challenge, Emerging Stronger Tomor-row.” Keynote speakers include Gary Hamel, author of “Leading the Revolution;” Steve Steinour, President and CEO of Huntington Bancshares; and Gerry McNa-mara, CIO Practice Leader for Heidrick & Struggles, a Chicago-based global executive search and leadership consulting fi rm.
CIOhio has tripled in size during the past seven years, says Haynes, allowing it to attract speakers such as Hamel, ranked by the Wall Street Journal in June as the most infl uential business strategist in the world.
In May, the fi rst ever Innovation Summit proved so popular that planning for a second event is now in the works. The full day conference for CEOs is focused on innovation leadership strategies, and was born out of ideas generated from TechColumbus’ Executive Fo-rums, says Haynes.
“Sterling Commerce stepped in at the very beginning and said they wanted to endorse and underwrite that event,” says Haynes. “It was through their support that we could bring in two big-name keynote speakers - Terry Jones, the founder of Travelocity.com, and Rita McGrath of Columbia Business School.”
Eight executive forums and scores moreTechColumbus’ eight executive-level forums are also expanding in number and popularity, and have proven to be a valuable way to exchange ideas on topics from business growth to human resources strategies. “For any offi cer to take out four to six hours of their time away from their families and businesses every month is incredible, but they’re very committed and they fi nd a lot of value in it. I think that comes from getting to know each other well and recognizing that they now have a resource of 20 peers they can go to if they need to,” says Charlotte Collister, owner of The Collister Company and facilitator of four of the forums.
Other events include the TechColumbus IdeaPitch and Industry Forum – part competition, where students develop and pitch a business plan to judges from the industry, and part panel discussion of industry pro-fessionals and leaders on trends and roles, allowing students to discuss and explore a future in Ohio’s high tech community.
“These are people who would not normally be mix-ing, like students, technical folks, entrepreneurs and venture capitalists,” says Anker Bell, partner in the Columbus law offi ce of Vorys Seymour Sater and Pease LLP, and a member of TechColumbus’ program plan-ning committee.
Startup Weekend in July had a similar effect – gath-ering 150 people full of ideas, from accountants to marketing gurus to technologists, to generate the seeds of 11 startup companies over the course of a single weekend.
“By doing some of the things we’re doing, we’re also showing the broader business community some of the people who are truly focused on technology,” says Bell.
“This started as a small idea from one of our employ-ees who had seen it in other markets. We agreed to sponsor it only if TechColumbus would get behind it, and it ended up being a big program that got national coverage. We like that when TechColumbus puts its weight behind something, they bring the entire tech community,” says Hendrickson.
Every community needs a village green – a place to come together, talk, celebrate and share. The tech community is no different. “...what will allow Columbus
to achieve its potential as a national and international hub for entrepreneurship.”
LUKE BARBARA | OSU
EVENTSANDPROGRAMMINGkey to sense of community
Attendees at recent TechColumbus events.
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From our Columbus headquarters, Chemical Abstracts Service
(CAS) stands at the digital crossroads of world science. This year,
we kept pace with the accelerating rate of global discovery and
innovation when CAS REGISTRYSM grew from 40 to 50 million
substances in just nine months. CAS, the summer home of the
Columbus Symphony Orchestra and the inaugural launch site for
Pelotonia, is pleased to support the efforts of TechColumbus and
Central Ohio’s rapidly growing technology community. We are
proud to be a global leader and even prouder to be part of the
Global leader. Local citizen.
A division of the American Chemical Society
2540 Olentangy River Road, Columbus, OH 43202www.cas.org
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2 6 Advertising Supplement to Columbus Business First Faces of Innovation - TechColumbus annual report 10.23.09
By: Robert J. MassiePresident, CAS
CAS produces and distributes the world’s highest quality and most comprehensive databases of chemi-
cal information. Our customers are scientifi c and intellectual property researchers in the most important patent offi ces, pharmaceu-tical, life science, and chemical companies, as well as universities on every continent. CAS has called Columbus home for 100 years and is fortunate to have experienced record performance, top and bottom line, throughout the past two years of economic upheaval. That performance refl ects our dedication to product quality, our global customer base, and the inexorable growth of scientifi c information and its essential role in fueling research.
On September 7, 2009, we recorded the 50 millionth chemical substance in CAS REG-ISTRYSM, a database that represents CAS’
more than 40-year-old mission to uniquely identify chemical substances and important information about those substances.
Reaching the 50 million mark is an indicator of the accelerating pace of scientifi c discov-ery in areas ranging from pharmaceuticals to industrial manufacturing. In fact, the last 10 million substances were registered by CAS within the past nine months at a rate of 25 unique substances per minute.
This astounding rate of growth in REG-ISTRY is a tribute to the roughly 500 scientists—most based in Columbus—who use advanced technology to analyze journal and patent documents in more than 50 languages. At the same time, CAS IT staff orchestrates the fl ow of information into our databases and designs the software products that customers use to access the information stored in Columbus.
The CAS REGISTRY is considered the “gold standard” of substance collections, even by our competitors. All of us at CAS, and our partners around the world, are proud to have earned that recognition. As we mark the 50 millionth substance milestone, we also look ahead to expanding vistas of discovery and rededicating ourselves to our mission, whatever the economic outlook.
The ‘Gold Standard’ reaches a milestone
S P O N S O R M E S S A G E
By: Jean SchelhornAssociate Vice President, Technology Licensing and CommercializationOffi ce of Research
The Ohio State University and all Ohio public and private universities play important roles in the economic devel-
opment of our region and beyond through our educational, research, and service proj-ects and access to our unique equipment and capabilities. Our faculty educate and train our future and often our current workforce. Our researchers conceive new ideas and seek and receive grant funding to advance the state of knowledge in a host of socially- and commercially-relevant fi elds. In doing this innovative work, our research-ers bring hundreds of millions of dollars to the state, develop commercially-viable tech-nologies, and facilitate the creation of new jobs. Our centers of excellence and our re-searchers’ expertise attract small and large companies to work in close proximity to our campus. These collaborations and the
resultant technology transfer of university research and capabilities to industry grow the industry base in Ohio and beyond.
Tour the areas surrounding our university campuses and you will fi nd the ingredi-ents of economic development. Young companies are making their homes in our research parks and other locations close to the university. You may not see any small company signs; instead, you may see incubator signs. Inside, you will fi nd small companies striving to be the next Google or Medtronic. Continue on your tour and you will see evidence of allied service busi-nesses providing small companies with the services critical to success. You will see organizations that provide grants, start-up capital, and support to small companies at a crucial point in their existence. Surround-ing our universities you will also see big companies. These companies want to stay close to both the university research and the smaller companies that may become their pipeline of new products and services for the future.
Universities are economic development en-gines. The Ohio State University has proud-ly served in this role since 1870 – providing inspiration, expertise, and innovation.
Research Universities: economic development engines for Ohio and beyond
By: Jim StruntzColumbus Managing Partner
Accenture is a global management con-sulting, technology services and out-sourcing company with approximately
177,000 people serving clients in over 120 countries. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. We have extensive relationships with the world’s leading companies and governments and work with organizations of all sizes—including 96 of the Fortune Global 100 and more than three quarters of the Fortune Global 500. Our com-mitment to client satisfaction strengthens and extends our relationships.
Using our industry knowledge, service-offering expertise and technology capabilities, we iden-tify new business and technology trends and
develop solutions to help clients around the world:
• Enter new markets.• Increase revenues in existing markets.• Improve operational performance.• Deliver their products and services more
effectively and effi ciently.
For Accenture, high performance is more than an aspiration for our work with clients. It is the commitment of Accenture people to each other, to our neighbors, to our shareholders and to all those with whom we interact. During 2008, Accenture invested more than $22.1 million in communities across the country, and Accen-ture people gave more than 150,000 hours of volunteer service through company-sponsored programs.
At the local level, each of our Ohio offi ces has a cohesive task force that provides a platform for local employees to get involved in a diverse offering of volunteer and community service activities.
Accenture employs nearly 900 dedicated pro-fessionals throughout the State of Ohio, in-cluding over 300 locally in Central Ohio. We proudly support TechColumbus, and salute its member organizations, as they foster the spirit of innovation that continues to place Central Ohio at the forefront of technology-driven advancement.
By: Rich Rosen Battelle Vice President of Education and Philanthropy
Battelle is innovation. Throughout our 80-year history, we have played an important role in the technology-
based economy that defi ned 20th century America. Whether it’s the new technolo-gies and products we create or the services we make better, our focus is to accelerate the process of innovation. It’s no different when it comes to our education and com-munity impact.
Corporate citizenship is an integral part of our operation. We believe that applying the innovation of our global operating busi-nesses – and the creativity of our people – to public and private partnerships is one of the best uses of Battelle to advance com-munities and our quality of life.
As an employer of thousands of scientists and engineers, we have an intense inter-est in stimulating our next generation to
pursue technological careers. But more importantly, we recognize the value of solid literacy in science and mathematics as a foundation for success in any pursuit in life.
There has never been a more important time in our history to enable every student – especially those historically underserved by an outmoded education system – to learn from inspiring teachers who have the preparation to make sure that science, technology, engineering and mathematics (STEM) are relevant to student life.
The criticality of our mission is matched by the priority we have placed on it with our resources and time. We have increased our emphasis on connecting education to eco-nomic growth and apply 80 percent of our charitable distributions to this area. But it’s about more than just the monetary dona-tions. Battelle also is committed to bringing nontraditional education stakeholders to help teachers and students by redefi ning the concept of the classroom. TechColum-bus has been instrumental as a partner and mentor in this journey.
By connecting the innovation workforce in Central Ohio to the next generation, we are all building a better future for our community and our world.
Battelle’s innovation extends beyond the laboratory
Leveraging innovation to achieve high-performance
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Advertising Supplement to Columbus Business First 2 7 Faces of Innovation - TechColumbus annual report10.23.09
S P O N S O R M E S S A G E
By: Susan RectorPartner, Intellectual Property and Technology Practice Group
Congratulations TechColumbus on your most successful year yet in fostering innovation in Central Ohio. The re-
cently released Ohio Third Frontier impact study quantifi es the economic activity, job creation and employee wage and benefi ts attributable to Ohio Third Frontier expen-ditures. TechColumbus has served Central Ohio well in leveraging these funds.
In a year in which investments shrank in oth-er parts of the country, venture capital grew by 9 percent in Central Ohio. Central Ohio continued its track record of funding invest-able ideas in 57 companies up from 37 in the previous year. Investments in pre-seed and seed stage companies more than doubled in Central Ohio fi lling companies’ capital needs at their earliest stages of development. Ohio TechAngels has led the investment in early stage companies in Central Ohio. It is rais-ing its third fund to continue and expand its investments.
Schottenstein Zox & Dunn commends Tech-Columbus for accelerating the growth of the innovation economy. Our fi rm’s Intellectual Property Practice Group is convinced that Gray Matter Matters,® so much so that we have adopted that tagline for our practice group. We are enthusiastic partners of Tech-Columbus, TechAngels and other Central Ohio initiatives assisting technology-based businesses innovate and succeed.
SZD designed its Legal Fundamentals Pro-gram with startup and entrepreneurial, tech-nology businesses in mind to anticipate their changing needs as they grow. This allows us to provide cost effective and yet comprehen-sive professional services to rapidly growing technology-based businesses.
We help smart, creative businesses protect their intellectual property and intangible assets. We grow with our clients and assist them with angel or venture capital fi nancing, mergers and acquisitions and legal counsel to guide decisions at every stage.
We are proud to join Accenture, Battelle, Chemical Abstracts Service and The Ohio State University in sponsoring TechColum-bus’ annual report of progress in Central Ohio. We look forward to continued facilita-tion, collaboration and innovation with these and other partners to advance the region’s technology economy.
Central Ohio benefi ts from innovation growth
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you will have no chance at new business from your best new business prospects;
In these uncertain times...IIn these uncertain times...
Go to SuccessEvenNow.com/columbus for proven ideas and essential information.Contact Ad Director Donna Kanoski at [email protected] or 614.220.5416.
Credits: Design and photo illustrations by: Rick W. Titus; Photographs by: Larry Hamill and Paul AnthonyStories by: Martha Leonard, Cindy Bent Findlay, Scott Rawdon; Editor: Martha Leonard
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