Two startups bolstered by the University of Cincinnati are celebrating a financial boost, with each landing a $200,000 chunk from Ohio’s deep pockets courtesy of the state's Technology Validation and Startup Fund (TVSF). As the Cincinnati Business Courier reported, ComfortCath and MetaMol Theranostics have laid plans to quickly push forward in their entrepreneurial strides with these funds from TVSF's latest $1.4 million allocation to innovators across Ohio.
Breaking it down, ComfortCath is the brainchild calling Mason, Ohio, its home, engineering a more dignified catheter for women thwarted by chronic urinary retention. Meanwhile, its fellow grantee, MetaMol Theranostics of Milford, is on the hustle to boost breast cancer detection rates with a new diagnostic tool that could well tip the scales towards life over death. Ohio's Department of Development describes the TVSF as a program "provides grants to Ohio companies aiming to license institution-owned technologies to accelerate commercialization through activities such as market research and further prototyping," according to Mirage News, ComfortCath seems to quickly capitalize on the grant for prototyping and design finalization, whereas MetaMol is zooming in on commercialization.
The Cincinnati duo's success is a feather in the cap for UC’s 1819 Innovation Hub, a crucible for startups seeking resources and expertise. ComfortCath and MetaMol Theranostics haven't just struck gold. They're card-carrying members of the university's ecosystem, having tapped into commercialization resources available through the Venture Lab startup incubator and the Technology Transfer team. Marvin Abrinica, director of startups at UC’s Office of Innovation, told the Cincinnati Business Courier, according to the University of Cincinnati, "The success of ComfortCath and MetaMol in this funding highlights the high potential of life sciences and medical technologies emerging from the UC Venture Lab.”
Not to solely praise the entrepreneurial spirit, the Technology Transfer team pitches in with savvy to kickstart product journeys from lab bench to marketplace. Patrick Brown, commercialization navigator for UC’s Technology Transfer team, is convinced that these startups can change lives and acknowledged his team’s behind-the-scenes hustle, stating via the University of Cincinnati, “Our team is tasked with identifying, assessing and protecting novel technologies developed by our talented faculty.” Evidently, they've been putting heads to beds and making meaningful connections for UC's tech thinkers.
ComfortCath and MetaMol Theranostics are adding their names to the 1819 Innovation Hub's success stories, drawn from a pool of nearly $10 million funneled into early-stage startups by UC and Ohio since 2018 through the Venture Lab. They share this hub with resources like the Learning Lab and Ground Floor Makerspace, fostering an environment where ideas are meticulously nurtured and stretched to their fullest potential. This vein of innovation has seeded a robust startup ecosystem set to grow even more as Ohio continues to back promising ventures, such as these two healthcare game-changers.
