Northeast Ohio's ingenuity in polymers and advanced materials is having a positive impact on the region's production of flexible electronics products for the global market. FlexMatters, a cluster of businesses, suppliers, service providers and institutions within the flexible electronics industry, has attracted a significant amount of capital from public and private sources in the last several months.

NorTech, which launched FlexMatters to address low-cost manufacturing of electronic devices printed on flexible plastic materials, recently released information on funding for members of the cluster. In all, FlexMatters members garnered $14 million in capital, according to NorTech.

The funds were offered at a variety of stages and for different purposes. Cleveland's Blue Spark Technologies, for example, received a $6 million private equity series B investment, which will be used to accelerate new applications for thin, printed, disposable batteries.

The FlexMatters cluster connects member organizations with funding, revenue and technology partnership opportunities. "We are building a robust innovation cluster in Northeast Ohio that is going to put our region at the forefront of the global flexible electronics industry," says Rebecca Bagley, NorTech president and CEO.

SOURCE: NorTech
WRITER: Diane DiPiero