WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH) announced that the U.S. Economic Development Administration (EDA) has awarded $300,000 to the Bounce Innovation Hub Fusion Fund in Akron. The funding will provide critical capital for innovation-based start-ups and companies with high growth potential in the software space.
“When start-ups are looking to get their businesses off the ground, local investment and capital are key to their growth and success,” said Brown. “This funding will boost Bounce Innovation Hub’s ability to help drive economic growth in northeast Ohio.”
The Fusion Fund provides access to facilities, mentors, and resources available through the Bounce Innovation Hub which houses 300,000 square feet of co-working space, conference space, office space, and laboratory space.
The U.S. Department of Commerce’s Economic Development Administration (EDA) awarded the funding through its Seed Fund Support Program. Grants awarded through the program provide technical assistance to help plan, form, and launch seed capital funds for start-up companies.