Lorain County Community College Innovation Fund

Overview

The Lorain County Community College Innovation Fund, established in 2007 by the Lorain County Community College Foundation, is a regional fund dedicated to supporting early-stage technology startups in Northeast Ohio. The fund aims to foster economic growth and job creation by providing seed funding to innovative companies within the 21 counties of Northeast Ohio. Entrepreneurs benefit from the fund through financial support, mentorship, and access to a network of experienced business professionals and resources. The Innovation Fund plays a unique role in the Northeast Ohio funding continuum, often representing the first investment into a company after the entrepreneur’s personal assets have been expended but before investment from outside firms. It provides two pre-seed fund awards based on where a business stands with its offering, with specific requirements for each award and expectations for portfolio companies to give back educationally and financially. Since its inception, the Innovation Fund has made multiple awards, with a total commitment of $12,762,500, of which $1,127,105 has been forfeited to date. The fund continues to support the growth and development of technology-based startups in the region, contributing to the economic vitality of Northeast Ohio.

Investment Focus

• Technology-based startups located within or willing to locate to the 21 counties of Northeast Ohio
• Provide an entrepreneurial educational opportunity or internship for students, faculty, or staff of Lorain County Community College and/or partnering higher education institutions

Portfolio Companies