The state’s investment arm for tech startups and ventures is facing a financial wall. However, there are some differing opinions on the urgency of renewing funds for the Third Frontier Commission.
Lt. Gov. Jon Husted wouldn’t say the Third Frontier is running out of money. Rather, he said the commission that uses bond money to kickstart projects is nearing the limit to the life of the program.
Third Frontier has about $180 million left. Husted said that still gives the commission a few more years.
“I think the conversation as of late is ‘are we preparing to look at the future? What does that future look like?’ Right now we’re focused on the budget.”
Husted is also director of InnovateOhio, a new department created to help streamline innovation and services within state government. He emphasizes that the goals of InnovateOhio and the Third Frontier Commission are separate.
