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Investment Criteria
The fund will provide pre-seed capital and professional management
assistance to fuel technology and market validation and the initial
start-up phase of early stage technology based business opportunities.
The Fund makes multiple small investments up to $50,000 with
established milestones for the release of funds. Follow on investments
will be considered. Collaboration with other investment vehicles
is recommended and highly desirable to supplement 1st Fifty funds.
The investment is initially a convertible loan with repayment
terms, unless converted to equity, in accordance with the promissory
note executed by the applicant.
Funded opportunities must have potential to realize the following
measures of success:
- commercialize proprietary technology, intellectual property
and know-how
- address sizable unmet or underserved market needsattract an
experienced entrepreneurial management team
- secure follow-on venture capital investment
- grow to a substantial contributor to the Ohio economy
Fund targets technologies/companies in the following areas:
- Life Science: Bio Medical, Bio Tech, Medical Devices and Instruments
- Information Technology: Software/Applications Development
- Communication Technologies: Communications Hardware, Telecommunications and
Networking
- Electronics and related fields
- Engineered Products and Materials.
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