7 Funding Sources in the Gem City
November 22, 2022
By Katie Aldridge
Wondering about where you can find funding for your startup in the Gem City? Entrepreneurs’ Center’s Scott Koorndyk and Kim Frazier shared on overview of local capital opportunities at this year’s Launch Dayton Startup Week.
- The federal government’s way of investing in research that small businesses are doing and researching with technology.
- Will invest in the company without debt, equity, or an expectation to pay them back.
- Requirements: Technology-based company.
- Typically invest $50,000 – $150,000.
- Run by the state of Ohio with a goal to get technologies out of universities and into the market.
- Requirements: License-able technology idea that someone else created and proof that the technology is valuable and a good foundation for your business. (Must pursue before you have licensed the technology)
- Typically invest $100,000 – $150,000
- EC manages this program to help entrepreneurs move down the commercialization pathway by offsetting expensive costs, marketing plans, prototyping and more.
- Will pay for services without debt, equity, or an expectation to pay them back.
- Requirements: Company must have a technology at its core.
- Angel investing group based in Indianapolis. The Dayton chapter is managed by the EC.
- Requirements: Scalable technology-based company.
- Typically invest $100,000 – $500,000
- Pre-seed fund starting formal venture process that is supported by the state; it can take more risks than a traditional venture capital organization.
- Requirements: Equity and technology-based company.
- Typically invest $250,000 – $400,000
- Funded by local, accredited investors who are committed to this region.
- Individual investments, not collective; entrepreneurs are matchmaking with investors.
- Requirements: Any kind of business and have something valuable investors want to invest in, so that their investment will be returned.
- Typically invest $5,000 – $100,000
- More like a loan than an investment; take a loan and pay it back as a percentage of monthly sales.
- Best for those who cannot get a bank loan.
- Not an equity investment.
- Requirements: Any kind of business, must have a revenue between $100,000 – $300,000 annually (can be discussed if under), plan to double revenue in two years, open to coaching from the EC staff and investors, and willing to share monthly bank statements.
Want to get involved? Email Kim at [email protected].