After long incubation, $160M neurotech commercialization center forms first two startups – applying ‘VC discipline’

Story excerpt provided by Columbus Business First.

Written by Carrie Ghose.

The $161 million technology commercialization center backed by Ohio State University and Ohio Third Frontier recently publicized its second company to launch. So where is the first? And what’s been happening the past three years?

Neurotechnology Innovations Translator LLC, a public-private partnership in Columbus, was incorporated in December 2013 and awarded $21 million from Third Frontier in June 2014. Ohio State and a corporate coalition including Dublin-based Cardinal Health Inc. (NYSE:CAH), Minneapolis-based Medtronic Inc. and venture capital firms committed a total of $140 million in cash and services, with the total to cover four years. The goal was to create up to two companies yearly and 200 Ohio jobs in five years.

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Originally published May 3, 2017.

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