Sept. 04--The Dayton Development Coalition's entrepreneurial development team, Accelerant, has made its first two investments, totalling $800,000, officials announced Thursday.
The Accelerant Fund I's advisory board voted unanimously to invest $300,000 in the technology start-up firm storeFlix and $500,000 in the clinical diagnostic laboratory Ischemia Care.
Ischemia Care is being attracted to Dayton from its current location in suburban Cincinnati as part of this investment. The investment will be applied toward commercialization of a diagnostic RNA-based blood test that determines the cause of a stroke or transient ischemic attack (TIA.)
StoreFlix has developed a cloud-base software application that allows retailers to collect and share real-time data about their inventory, and make adjustments to optimize sales.
Accelerant Fund I is a $9.5 million, 10-year seed stage venture fund focused on the Dayton region.
In June, this newspaper reported that Accelerant was awarded $3 million from the Ohio Third Frontier's Pre-Seed Fund Capitalization program. Accelerant raised the remaining $6.5 million from local limited partners.
Acclerant Fund I is slated to invest in about 20 new companies in the Dayton area over the next three years to create jobs and economic growth, and attract outside capital to the region.
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