State Releases $200,000 To Help Central Ohio Entrepreneurs

COLUMBUS, Ohio – Ten teams of technology entrepreneurs will benefit from $20,000 awards to help with their projects, thanks to approval Monday by the State Controlling Board, state Rep. Michael Stinziano says.

“Small business is the backbone of our economy,” Stinziano, a Columbus Democrat, said. “These funds will go a long way towards helping entrepreneurs develop their firms, add jobs and grow the economy.”

Without comment the State Controlling Board approved releasing the funds to the Columbus-based Founders Factory.

According to state documents, Founders Factory, through the 10-xelerator (10x) that has been active in Columbus since 2011, will support the ten entrepreneurial team at $20,000 per team this year.

The program will focus on information technology with a broad base of applications including web 2.0, EduTech, social, mobile, software development and data services.

Made up of six state lawmakers and a representative of the governor’s office, the State Controlling Board has the final say over some of the state’s largest spending projects.