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