SUCCESS STORIES ////////////////////////////// //////////////////////////////////////////////////////////////////////////////////////////////////// A COLLECTION OF ADDITIONAL REAL-WORLD STORIES ABOUT THE BUSINESSES —
LESSONS LEARNED
FACULTY, STUDENT, REGIONAL — THAT HAVE BEEN HELPED BY THE SYSTEM
PROMILIAD BIOPHARMA THE PRODUCT
New antibiotic compounds that could be developed into drugs that might combat the “superbugs” resistant to antibiotics already on the market.
THE MARKET
E C O 2 CAPTURE Pharmaceutical corporations
THE PRODUCT
A more efficient system for algae to feed on carbon dioxide than what’s currently on the market.
LESSONS LEARNED
“It’s a well-functioning environment to get small businesses started here,” says Bayless. “I’m not a business guy. They’ve made it so that faculty don’t have to be businesspeople. They can be the visionaries for the technology. Frankly, that’s a model that really works well.”
THE MARKET
BACK STORY
Companies that grow algae for biofuels, environmental remediation, nutritional supplements.
Founded by Ohio University engineers David Bayless, Ben Stuart, and Jesus Pagan. Developed from faculty-created technology that explored how cyanobacteria—commonly known as pond scum—could clean up air pollution.
E C O S Y S T E M S TA T U S Recipient of TechGROWTH coaching and growth grant, recipient of Third Frontier funding to develop product prototype and testing. Innovation Center client.
BACK STORY
E C O S Y S T E M S TA T U S
The compounds were developed by Ohio University chemists Steve Bergmeier and Mark McMills and University of Montana researcher Nigel Priestley, who founded Promiliad in 2002.
Recipient of TechGROWTH growth grant and venture capital investment, as well as federal technology/small business funding. Affiliate of Innovation Center.
L E S S O N S L E A R N E D ////////////////////////
“(The TechGROWTH investment grant) is a huge step for us because it’s the first real investment in the company,” Bergmeier says. “It’s a validation that what we’re doing is good — that someone else believes in it enough to put some money into it.” /////////////////////////////////////////////
.33