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HESS Industries Ltd. at the Braintree Business Development Center in Mansfield - Photo Bob Perkoski
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Dayton : Innovation + Job News

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Ohio companies garner coveted listings on the 2013 Inc. 5,000

Among other Ohio companies, two Buckeye State startups have garnered coveted national recognition.

CoverMyMeds, a Twinsburg firm that makes it easier for patients to get their prescribed medications, and Plug Smart, a Columbus energy solution company, both placed in the top 300 of Inc. Magazine's 5,000 fastest-growing companies in the United States.
 
Inc. Magazine's rankings take into consideration factors such as annual growth, revenue increases and staff expansions over a three-year period. Coming in at 96, CoverMyMeds grew 3,567 percent over the designated time frame using the magazine's criteria, garnering $5.3 million in revenue as of 2012.
 
The company, which previously received funding from Cleveland entrepreneur accelerator JumpStart, is an online service for physicians and pharmacists that provides prior authorization services and other insurance coverage for a variety of drug plans.
 
Web- and phone-based tools developed by CoverMyMeds automate the submission of authorization requests, a process that when done manually can be both expensive and frustrating, says principal/CEO Alan Scantland. The company does not charge pharmacies or doctors for using the service, instead putting the onus on  drug manufacturers that need to expedite the sluggish authorization process if they want to increase sales.
 
Being ranked by Inc. in the top 100 - and eighth overall in the healthcare sector - "brings us immediate attention, and gives us a third-party voice of credibility while adding to our brand and positioning," says Scantland. "The distinction is also great for employees, who are getting some well-deserved recognition for their efforts."
 
Lightning-fast growth has also opened the door for additional business ventures, notes the company head. "It's wonderful," he says. "We’re very excited about making such an impact in healthcare."
 
Plug Smart made the list during its first year of eligibility thanks to over 1,500 percent in growth and $6.4 million in revenue from 2009 to 2012. The energy services company helps commercial, industrial, nonprofit and utility companies implement a broad range of energy solutions, from HVAC to lighting systems. Among its goals, the TechColumbus-incubated firm seeks to aid clients in building energy efficiency projects and leveraging renewable power resources.
 
Getting your company's name out there when competing with industry stalwarts like Siemens, Honeywell and Trane is no mean feat, says Plug Smart president David Zehala. In addition to its overall ranking, the company finished number 17 on the list of Top 100 energy companies, and number eight in the list's top 100 Ohio companies.
 
"This establishes Plug Smart as a major force within the energy services sector," Zehala says. "Our teams represent the best and brightest energy engineering minds in the industry, and our success is a testament to their ability to help our clients find creative ways to implement energy projects."

CincyTech portfolio company BioRx, which enjoyed 181 percent growth over the past three years, was also listed as one of Ohio's top 100.

More than 180 Ohio companies were included on the 2013 Inc. 5000 list, including Vertex Body Science and US Logistics, which clocked in at numbers 19 and 34, respectively.

By Douglas J. Guth

Ohio Unmanned Aircraft Systems Conference returns To Dayton

The third annual Ohio Unmanned Aircraft Systems Conference (UAS) is set to return to the Dayton region next year, from August 26th to the 28th, with events playing out in the Dayton Convention Center and Sinclair Community College. The Dayton Development Coalition (DDC) and the Wright Brothers Association of Unmanned Vehicle Systems International will host the three-day conference.
 
The 2014 conference will continue the tradition of connecting industry experts with key government officials to discuss the rapidly evolving unmanned aircraft industry. An aircraft without a human pilot is colloquially known as a drone.
 
“We provide the venue to examine issues surrounding development and provide opportunities for further collaboration between all attendees,” explains Maurice McDonald, DDC’s Executive Vice President of Aerospace & Defense. The DDC has hosted the event since 2012 in partnership with various regional organizations and academia.
 
Why Dayton? McDonald says it’s simple. “Aviation as we know it really began in the Dayton region,” he says, noting Charles Kettering’s development of the first unmanned aerial vehicle, the Kettering Bug, in 1918 alongside the area’s favorite aviation heroes, the Wright Brothers. The latter, of course, is now the namesake of the local United States Air Force Base, “which is responsible for the research, development, testing, and acquisition of UAS technologies and the acquisition of new systems for the Air Force.”
 
The event will feature network opportunities and presentations given by senior leaders in the UAS community. “In addition, conference participants will have access to numerous UAS companies attending the conference and those exhibiting their company’s capabilities,” McDonald explains. “The conference also provides the opportunity to choose various break-out sessions where panels of experts discuss various capabilities, issues, technologies, and applications of UAS.”
 
For those looking for continuing education credit, training sessions will be conducted on the last day of the event.

“This conference gives attendees the opportunity to have valuable discussions around an industry that is still being developed,” says McDonald. “The Dayton region and Ohio will be able to showcase its strong assets, such as our world class research and development centers, our manufacturing capability, our significant aerospace supply chain and our public and private university structure.”
 
Source: Maurice McDonald
Writer: Joe Baur

Dayton-based ETI Tech launches expansion of F-35 fighter jet program

ETI Tech president Mark Sargent carries little nostalgia for the 5,000 square-foot "cracker box" where his small aerospace firm previously manufactured hardware and ground support equipment for a number of high-flying military defense projects. Having suppliers visit for a meeting could even get a bit embarrassing.
 
"We were practically falling over each other," says Sargent.
 
Thanks to a ramp-up of the company's F-35 fighter jet program, ETI Tech is finding itself in expansive new digs, namely a 23,500 square-foot facility in the Dayton suburb of Englewood.
 
The growth process is about 60 to 70 percent complete since a ribbon-cutting ceremony that took place in June. Over the next couple of years, the defense contractor will increase volume of mechanical and electro-mechanical support parts for its F-35 project now its ninth year. Those components could include fiber optics inspection systems or fixtures to hold landing gear. ETI Tech's customers include Lockheed Martin, Boeing, BAE Systems and the government.
 
"We'll be gradually adding equipment and more employees," Sargent says of the projected $1 million expansion. "We're going to be introducing capability we've never had before."
 
ETI Tech has augmented its revenue from $3 million to $7 million since Sargent purchased the company from the previous owner in 2010. When full-rate production of F-35 parts begins in a year or two, the firm's owner envisions annual sales reaching $15 million.
 
"We would be ecstatic about that," says Sargent. "There's lots of pride here."

 
Source: Mark Sargent
Writer: Douglas J. Guth

Study: northeast Ohio's tech startups generated $270m in economic impact in 2012

An annual study conducted by Cleveland State University’s Center for Economic Development at the Levin College of Urban Affairs shows that startup companies in Northeast Ohio contribute significantly to the economy. The study surveyed tech-based companies that received assistance, either financially or in services, through JumpStart or the North Coast Angel Fund.
 
The 127 companies who participated in the study generated $211 million in economic benefits in Northeast Ohio in 2012, $270 million statewide. These companies helped create and retain 1,100 in-state direct jobs, with a total Ohio employment impact of 2,140. The companies and their suppliers also increased total Ohio household earnings by $125 million and contributed nearly $12 million in state and local tax impact.
 
As the early-stage companies grow, their impact increases, according to the study. Among those surveyed, 44 companies participated over three years -- from 2010 to 2012, showing 53 percent job growth and a 36 percent increase in economic impact over those three years.
 
“These numbers quantify the impact small companies made,” says Cathy Belk, JumpStart COO. “Small companies make a big difference.  It’s exciting to see the impact the companies we see every day are having. We see how hard these companies are working.”
 
With all of the organizations in Cleveland that support startups, in addition to support from Ohio Third Frontier, which provides funding to organizations like JumpStart, the region is ideal for new businesses.

“We continue to believe that Northeast Ohio is the best place in the country to have a small business or a new business,” says Belk. “We have such a robust ecosystem for startups and small business.”

 
Source: Cathy Belk
Writer: Karin Connelly


Dayton Development Coalition aims to promote entrepreneurship

The Dayton Development Coalition (DDC) is launching a series of new programs aimed at promoting and supporting entrepreneurship in the Gem City.
 
Joel Ivers, Vice President of Entrepreneurial Development at the DDC, describes how his organization plans to work with Dayton’s entrepreneurial community. He notes meetings with community leaders, the creation of an entrepreneurial ecosystem database to help startups better connect, and a fundraising effort to raise $10 million in seed funding for new startups.
 
The operation is best summed up as a community-wide effort to bring more innovation and startup activity to Dayton. Ivers lists partner organizations such as TECDayton, IDCAST, the University of Dayton Research Institute, Wright State University, Central State University, Sinclair Community College, Wright Brothers Institute and various economic development organizations throughout the region. “Also, some entrepreneurs themselves are working with us to lead and provide support for all activities,” says Ivers.
 
In the early stages, it’s difficult to say what the economic impact will be even though “most initiatives have already begun.” But Ivers and his colleagues are confident these new programs will play a significant role in Dayton’s comeback as a startup-friendly city, provided their fundraising efforts are successful. “When funding is finalized, we will create goals for jobs and revenue,” Ivers notes.
 
Though news of these efforts is just coming out, DDC is not waiting around for progress.
 
“The goal is to launch the fund by the end of September,” Ivers explains. “And [we] expect to close the fund before the end of the year.”
 
 
Source: Joel Ivers
Writer: Joe Baur

Ohio scholar developing automated monitoring system for nation's pipelines

Ohio scholar and researcher, Vijay Asari, is developing an automated monitoring system for the state’s pipelines to ensure safe operation. Over two million miles of pipes buried beneath the ground throughout the country stand to benefit from Asari’s work.
 
“Since none of the areas through which pipelines run are to be used for other construction activities, it needs to be monitored whether the right-of-way of the pipeline is encroached upon at any point of time,” explains Asari. “Rapid advances made in the area of camera and sensor technology have enabled the use of video acquisition systems to monitor the right-of-way of pipelines.”

Despite advancements, there is still work to be done.
 
Asari’s main objective includes a enhancing pipeline images to help workers better monitor them and differentiate them from other objects on the scene. This will help prevent future leaks that can devastate the surrounding habitat.
 
“Pipeline leaks may cause severe damage in terms of destruction of plants, agriculture and water resources near the locations where oil leaks occur,” says Asari. “Losses worth several million dollars are incurred by pipeline companies when pipeline leaks or damages occur due to the intrusion of heavy equipment and machinery on the pipeline right-of-way.”
 
Research is taking place in the University of Dayton’s Vision Lab to develop new algorithms for real-time applications in the areas of signal processing, image processing, computer vision, pattern recognition, machine learning, artificial neural networks and bio-mimetic object-vision and recognition. For Dayton, means the possibility of new jobs. Asari says the Vision Lab is garnering the attention of large companies that are interested in the project in order to establish relationships. “This will lead to the possibility of building a system development cluster to build deployable systems suitable for commercial applications,” says Asari. “This would in turn bring the possibility of generating several jobs in the region.”
 
Several phases are included in the project, which Asari estimates will take five years. “Simultaneously, we are also planning to develop oil leak detection, pipeline damage detection, and natural resources damage detection techniques for the protection of our natural resources and provide security and safety to our people and facilities.”
 
 
Source: Vijay Asari
Writer: Joe Baur

Ohio Third Frontier targets tech-based economy with new programs

Ohio Third Frontier is enhancing its commitment to innovation, adding three new programs that identify methods to move technology products to the marketplace more quickly, resulting in more jobs and a stronger tech-based economy in Ohio.
 
“Each one of the new programs introduced by Ohio Third Frontier has a specific focus on advancing technologies to a place where they can be profitable in the market, creating companies and job opportunities in the process,” explains Katie Sabatino, Senior Media Strategist at the Ohio Development Services Agency’s Office of Communications. “By designing results-driven programs, Ohio’s economy will benefit and improve our foothold as a leader in innovation and advanced technology industries, which are key to our long-term success."
 
Requests for proposals were released in May for the following:

The Commercial Acceleration Loan Fund offers Ohio tech companies loans to assist in developing products and services where they may otherwise have difficulty securing funding due to the risks associated with developing technologies. Loans range from $500,000 to $2.5 million.

The Technology Commercialization Center program invests in new technologies with the goal of creating companies and jobs while helping businesses attract capital. Centers will commercialize research from universities, medical centers or nonprofit institutions and advance the technology into the marketplace. The program offers up to $25 million to create a center with the expectation that after four years it will be self-sustaining.

The Technology Asset Grant supports shared infrastructure projects needed to develop new technologies. Program funding can go towards facilities and/or equipment when a federal procurement agency or at least two Ohio companies believe it is critical to commercialize technology. The grant program offers up to $5 million per project for up to three years.
 
These programs, the state agency believes, will better streamline the flow of new technology products to the market.
 
“When developing and commercializing new products, roadblocks can slow the process, creating a gap where generating funding can be difficult,” Sabatino explains, adding that the new programs will help bridge the gap between funding and commercialization with the goal of impacting the Ohio economy.
 
Never one to rest, Sabatino says Ohio Third Frontier is always looking for new opportunities. “We are focused on continually evaluating Ohio’s strengths and growth opportunities and creating programs that benefit the state’s tech-based economy and create jobs.”
 
 
Source: Katie Sabatino
Writer: Joe Baur

Annual Sensor Summit to offer free registration, high tech networking in Dayton

The Ohio Innovation Sensor Summit offers a new benefit this year -- free registration to the state's annual showcase of sensor technology to be held June 25-27 in Dayton.

The University of Dayton Research Institute (UDRI) will host the event convening scientists, engineers, investors and others to spur collaboration and business opportunities within the technology. The summit gathers hundreds of sensor enthusiasts from industry, academia and governmental and military agencies for networking and to drive research commercialization.

"Attendees are going to realize that sensors have barely scratched the surface of the commercial market," says summit organizer Gil Pacey of UDRI's sensor system division. "This area is well positioned to take advantage of technologies such as biomedical, biomarker, security and cyber-security." The event will include educational sessions and exhibits on those topics and other emerging applications such as human factors, photonics, thin film and surface research.

Pacey notes sensors are crucial to ensure the functioning and maintenance of machinery. "Industry needs tons of sensors to make their product lines work better," he says. "Attendees might find some sensor technology OEM (original equipment manufacturer) to make their system better."

Sensor technology has been a major focus of the Ohio Third Frontier program. This year's summit will feature a UDRI-led partnership that recently won a $3 million OTF grant to improve surveillance systems used by law enforcement, campus security and government facilities.

Events will be held at the UDRI headquarters and various locations in downtown Dayton. Interested parties should email names of attendees and the affiliate organization to Yulie Halim.


Writer: Tom Prendergast

Ohio Third Frontier awards $3 million to University of Dayton for advanced sensor tech development

Ohio Third Frontier has awarded the University of Dayton Research Institute (UDRI) $3 million to continue development of an advanced situational awareness platform that will be compatible with multiple sensor products.
 
Situational awareness systems refer to products with sensors that respond to environmental changes, such as seismic waves, infrared light and motion. Kevin Klawon, a software systems group leader at UDRI, gives the example of a camera that responds to someone entering a backyard.
 
Currently, customers such as law enforcement, border patrol or first responders have to approach different manufacturers for different needs. Klawon’s team, however, envisions a simpler solution that is now within reach thanks largely to the Third Frontier award.
 
“We actually have a platform that we’re building where you can just plug sensors in and the platform itself will be able to understand what kind of sensor it is,” Klawon explains. He anticipates substantial savings for customers who will only have to invest in one platform that can be reconfigured depending on changing needs. In all, Klawon expects the software development to result in 30 new jobs over a three-year period.
 
Klawon insists the idea isn’t revolutionary. Over time, he says, technology tends to find ways to integrate into one, simple package; but it has yet to be done in the emerging field of situational awareness systems. Klawon believes UDRI's work in the field will further reinforce Dayton’s growing national reputation as a leader in sensor development.
 
“This is a market the Dayton region has started to develop,” says Klawon. “We lost most of our automotive sector, so others have had to come up. I think this is one of the emerging sectors that will prove to help the region and become what the Dayton region is known for.”
 
 
Source: Kevin Klawon
Writer: Joe Baur

Wright State University breaks ground on $37 million research facility

Wright State University (WSU) has broken ground on a $37 million research facility, priming the region to take a leading role in the neuroscience field.
 
Dr. Robert Fyffe, Vice President for Research at WSU, says the idea of the new facility is to bring people together from different fields. “This facility will bring create synergies between people and lead to innovation,” he says. “If you can get people working together side-by-side with the recourse you need for truly collaborative, disciplinary work, you can actually achieve much more than if people are working in isolation.”
 
The new facility, scheduled for completion in February of 2015 and occupancy by spring of 2015, will house a diverse array of equipment necessary for the variety of fields of research that will be taking place. “There will be the ability to do everything from cellular molecular imaging to looking at MRI scans,” details Fyffe. “There will also be a good deal of specialized equipment in terms of advanced manufacturing and related areas.”
 
Similar to the vision of the facility itself, funding was made possible by what Dr. Fyffe describes as “a number of mechanisms,” including the state of Ohio’s budget for higher education and bonds issued by the university to assist with construction. This, combined with President Obama’s recently launched Brain Initiative, shows “neuroscience is an area that is moving again to the forefront of research,” Fyffe believes. Best of all, it allows Dayton and the state of Ohio to lead the way in research and innovation.
 
“I think it will be a strong beacon to continue to attract neuroscience research,” says Fyffe of the new research center, noting the alignment of interests between WSU and nearby Wright-Patterson Air Force Base. “The state is beginning to prime itself to step forward in the neuroscience field.”
 
 
Source: Dr. Robert Fyffe
Writer: Joe Baur

Dayton's NovoSource promises to decrease cost of knee replacement device

According to research released in the Journal of the American Medical Association last year, hospitals in 2010 performed 243,802 knee replacement surgeries, up from 93,230 in 1991. According to the study, annual demand for knee replacement surgeries could reach 3.5 million by 2030. The researchers attribute the potential increase to various factors, including aging baby boomers.

The popularity of the procedure and the price of knee replacement devices are contributing to rising health care costs, says Harold Linville, co-founder and chairman of Dayton’s NovoSource.
 
“The market for knee replacement devices is dominated by three or four companies,” he explains. “They provide great products that produce excellent results, but their overhead is huge, with large facilities, big staffs, expensive advertising and a costly distribution system.”
 
NovoSource is introducing its own knee replacement device. “It’s being manufactured by one of the companies the big players use to make their products,” he says. “Our device is made of the exact same materials and has the exact same functionality. The quality is the same. The difference is that ours will be much less expensive.”
 
The reason, according to Linville, is NovoSource’s streamlined business model. 

“We have a significantly lower overhead, with fewer employees and one sales person,” he says. “We also have better supply chain management because we’re working with our suppliers to establish long-term manufacturing agreements. Our approach also means we can maintain a lower inventory without tying up money.”
 
The company won’t be doing any advertising and will sell directly to hospitals and surgeons. “In terms of overcoming skepticism about considering our device, we’re able to provide data to prove that the quality of our product is just as good as anything else available on the market,” he states.
 
NovoSource’s knee replacement device is under final review by the FDA, and results are expected soon. The company plans to start distribution in Florida with the surgeons it worked with to develop the product.

NovoSource received $1.2 million in funding from the Dayton Development Coalition, with the rest coming from angel investors.
 

Source:  Harold Linville, NovoSource
Writer:  Lynne Meyer

University of Dayton snags $412,000 award to help area manufacturers

The University of Dayton Research Institute (UDRI) has been awarded $412,000 from the Ohio Manufacturing Extension Partnership to assist small to mid-size manufacturers within the Dayton area solve problems.
 
A research and development arm of the University of Dayton, UDRI plans to use the awarded funds to better serve companies within the region that have the capability to create jobs and make an impact on the local economy. Larrell Walters, Division Head of Sensors Systems at UDRI, says companies with less than 50 employees often face problems they are not equipped to solve.
 
“[They] really don’t know all the resources that are available to them,” Walters explains. “We are basically helping them connect the dots to things that can help them solve problems, move their technologies forward, help them create more revenue and more jobs.” After discovering a company’s problems, Walters and his team are oftentimes able to connect two different companies together that otherwise might not have known of their existence. This ultimately leads to new relationships and new growth opportunities.
 
Companies interested in receiving help can visit fastlane-mep.org for more information. No matter if the problem is technical or workforce related, Walters promises a quick response. “Fill out a short form, and we promise to get back to them within 48 hours.”
 
UDRI’s launch goal is to work with six to eight companies per month. “That might not sound like a lot,” Walters admits. “But if you can work with seven, eight companies a month solving real problems, that create a lot of opportunity for the state of Ohio and the people of Ohio.”
 
 
Source: Larrell Walters
Writer: Joe Baur

Intern in Ohio program launches this week, connects students with internships

This week, Detroit-based Digerati launched its Intern in Ohio program to the public, which is sponsored by the University of Toledo. Like eHarmony, the program uses an advanced matching algorithm to match students with internship opportunities.
 
Intern in Ohio is free to both students who are looking for internships and businesses who want to post internships. To register, students and employers visit Intern in Ohio’s website to sign up and create a profile or post internship opportunities. Students fill out a short questionnaire about their preferences, and employers share information about the position. The system then identifies the top seven matches for each student, as well as for each position. When the match is made, both the student and employer are notified, and they must show interest before any contact information is shared.
 
“We encourage diverse companies—large and small, for-profit and nonprofit, government and corporate,” says Wendy Pittman, director of Digerati’s Classroom to Career. “It’s a great chance for employers to broadcast their company and internship program across the state and reach a larger pool of applicants.”
 
Only companies in Ohio can post opportunities to the Intern in Ohio website, but all types of internships are welcome. There are posts for marketing, engineering and social media, among others, says Pittman.
 
The program is open to all students who live in Ohio, whether they’re in-state or out-of-state students. Research shows that not only do internships often lead employment offers after graduation, but that students are more likely to remain in an area where they held and internship.
 
“This is the first replication of the Classroom to Career technology from Michigan to Ohio,” says Pittman. “Experiential learning is a game-changer; and we’re looking forward to working with smaller communities to make a difference.”
 
In 2011, Digerati launched its Intern in Michigan program, which has resulted in more than 127,000 matches and introductions between students and employers. Over 1,000 Michigan businesses have posted 4,824 internship opportunities, and 1,049 colleges and universities in the state use the site.
 
Full disclosure: hiVelocity's parent company, IMG, supplies content to Intern in Ohio on a contractual basis.
 
By Caitlin Koenig
Follow Caitlin on Twitter

Dayton Development Coalition's data use recognized as national best practice

The Dayton Development Coalition (DDC), which serves 14 counties in west central Ohio, is the region’s economic development and advocacy organization supporting job creation.
 
When deciding where to locate, businesses consider a host of different factors, including a skilled workforce, transportation, logistics, taxes, incentives and educational institutions, when deciding where to locate. DDC relies on its internal data team to research and provide information on these and other important factors to help attract regional economic development.
 
The data team was recently tapped to present some of its best practices and strategies at the Economic Modeling Specialists International (EMSI) national conference.  According to its website, EMSI provides “high-quality employment data and economic analysis through web tools and custom reports.”
 
The team shared how it uses EMSI data to target economic development efforts, explains Kristy Rochon, director of DCC’s institutional research and strategic planning. Impressed by the team’s presentation, EMSI is featuring some highlights on its website.

“One of our best practices is how we use data to recruit businesses to the Dayton region,” Rochon says. “When businesses contact us about what they need for their business decision, we put together the most competitive and comprehensive package possible, using data from a host of different sources. Instead of just feeding them data, however, we try to gain as much insight into their company as possible, comparing the Dayton region to where they’re currently located. We consistently go beyond the parameters to give them what they need.”
 
A second best practice, Rochon explains, reflects how DDC’s data team uses EMSI data to analyze regional competitive strengths and opportunities. “We look at what we call ‘driver industries.’ These are high-skilled industries that carry high job multipliers,” she says. “High job multipliers mean that for every job in that ‘driver industry,’ it’s going to produce additional jobs in that industry.”
 
She cites aerospace systems, advanced materials manufacturing, biosciences and advanced data management as examples of “driver industries.”
 
“What we’re looking for here is projected growth or projected decline and trying to understand the factors behind it. The goal is to find ways to strengthen the industry or capitalize on that growth.”

Source:  Kristy Rochon, Dayton Development Coalition
Writer:  Lynne Meyer

 

dayton region signature fund distributes $520,000 to area tech startups

The Dayton Region Signature Fund has announced its recent distribution of $520,000 to area tech startups, totaling $1.4 million for 2012. The Dayton Development Coalition manages the fund to assist the growth of technology-based companies.
 
Launched in September of 2007, over 60 startup businesses comprise the Fund’s portfolio, making a significant difference in the local economy. This latest distribution was raised primarily from the exit of NanoSperse, a design and manufacturing company located at the National Composite Center. Their work consists of manufacturing nano-enhance dispersions for aerospace and industrial uses.
 
“We support investments that support individual entrepreneurs and grow the region’s key cluster areas,” explains Ray Hagerman, Vice President of Investments at the Dayton Development Coalition. These clusters include Aerospace Systems, Advanced Materials and Advanced Manufacturing, Information Technology and Advanced Data Management, and Human Sciences and Healthcare.
 
Universities and non-profits stand to benefit as well. “The money is going to investors, some of which are universities and non-profits,” explains Hagerman, adding the investment will allow them to have “more money to use for scholarships and to give away to worthy causes.”
 
Companies aligned with the Fund have received nearly $200 million in additional funding, creating approximately 412 jobs. This clustering of companies has garnered attention from global corporations that are now looking at Dayton as a place to build additional supply chains.
 
“The Fund’s primary goal is to provide solid returns to its investors,” says Hagerman. “The by-products are jobs and healthy companies.”
 
 
Source: Ray Hagerman
Writer: Joe Baur
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