New Albany Village Council on Oct. 19 showed its support for TechColumbus by passing a resolution to give the organization $100,000 a year for the next two years.

New Albany Village Council on Oct. 19 showed its support for TechColumbus by passing a resolution to give the organization $100,000 a year for the next two years.

Council voted unanimously, with member Colleen Briscoe absent.

"New Albany's commitment provided assistance to 150 companies and funding for 14 new startup companies," said community development director Jennifer Chrysler.

The village had given the program $250,000 per year over the last three years, Chrysler said.

New Albany is contributing less the next two years in part because of the economy and because TechColumbus is gaining more business partners, she said.

The contribution will come through the New Albany Community Improvement Corp. and would be used by TechColumbus to match a grant through the Ohio Department of Development's Third Frontier program, which is a voter-approved economic development initiative that provides money to technological industries. TechColumbus is applying for the grant to continue the TechStart program, which provides companies with "start-up mentoring and consulting, business plan development, a strong pathway to capital investment, marketing assistance, and affordable, high-end office, meeting, and lab facilities," according to TechColumbus' website.

TechColumbus must raise $3.5-million to match the $3.5-million grant for which it applied. It submitted the application Oct. 22, and award recipients are expected to named in January, said Will Indest, vice president of venture development for TechColumbus.

Indest said several entities made pledges, but the dollar amounts for each were not available at ThisWeek's press time.

Chrysler said Dublin and New Albany helped TechColumbus establish its TechStart program by providing startup funds matched by state grants. More suburbs, such as Westerville and Gahanna, now are willing to help fund the program, she said.

In New Albany alone, TechStart assisted 18 companies with mentoring and coaching, also providing access to venture capital, Chrysler said. The village benefits from the New Albany Business Development Center, an incubator established on West Campus Oval in the business park. TechColumbus leases space in the building to seven new startup companies with three more planned to come in before the end of January 2011, Chrysler said. The center employs a professional trained in business development to provide businesses with on-site mentoring.

The village also benefits from TechStart programming at the business center, Chrysler said. TechStart hosted 12 events in the last three years, which attract an average of 120 people each.

TechColumbus also has supported the village by helping to advertise and market New Albany as a technology community, Chrysler said.

Though not all of the startup companies are fully formed businesses yet, a company that graduated from the TechColumbus incubator on Kinnear Road, Strategic Thinking Industries (STI), earlier this year moved into the same building as the business center and has plans to expand.

The software company came to New Albany with three employees and is expanding to include up to 15, Chrysler said. Brian Olah, owner of STI, has spun off three other businesses, and STI continues to grow, finding more markets for its software interfacing.

"They've moved three times because they keep outgrowing their space," Chrysler said.

STI produces interface software that focuses on data integration, particularly in hospitals, but the company has continued to work with the software to find other uses, Chrysler said.

Another TechStart company, Buckeye Innovation, has helped the village create a new technology blog site that will be launched soon, Chrysler said. The site will feature stories of small businesses like Buckeye Innovation which specializes in website development and provide business advice for other entrepreneurs.