A Year In Review
2017 has been a great year for the Ohio Innovation Fund. We’ve added a few new names to our portfolio and have seen strong growth among our investment companies. The pipeline of potential companies continues to expand and OIF’s increased presence in the community has begun to shape our position as a leader in the state of Ohio.
OIF’s portfolio consists of eight companies spread across the state. Our newest additions – Eccrine Systems, Inc., and Immuta – have brought with them talent and new job opportunities to Cincinnati and Columbus. Athens based Global Cooling (GC) has had their best year yet, with impressive revenue growth from 2016 and a focus on becoming a best in class manufacturer of the Stirling engine. Wiretap expanded their management team in 2017 by adding VP of Sales Jeff Spridgeon and the engineering team has spent numerous hours improving the Wiretap platform to support multiple enterprise social networks.
Complion continues to grow its market share in the e-regulatory space with over 1,700 clinical trials actively using its software. Revenues are growing at more than 100% for this dynamic Cleveland company. Enable Injections continues to improve upon their injectable device and was honored as Venture Ohio’s 2017 Top Early Stage Company. Spirosure, a California based company using OSU licensed technology, continues to focus on the commercialization of the at-home and point of care breath analyzers. DOMedia is expanding its presence and handling more media than ever.
Ohio Innovation Fund is active within the venture community across the state, working with all of the Ohio Entrepreneurial Signature Programs (Rev1, CincyTech, Jumpstart and TechGrowth Ohio), fostering conversations with the Ohio Third Frontier Commission, and partnering with OSU, OU, and Kent State on their technology commercialization efforts. We have offered our services by sitting on accelerator award committees at the university level, providing internship opportunities to students, as well as advising entrepreneurs and offering network connections to help them direct their commercialization efforts.
Looking Forward to a Prosperous 2018
Overall, we are pleased with the successes of our portfolio companies to date. We have teams that dream big, and OIF is proud to provide the capital and expertise to help make those dreams a reality.
Congratulations to all of our companies for their outstanding performance in 2017 – here’s to a strong 2018!