Funding Sources For High-Tech Firms In Kentucky
10/08/09 | Kentucky Business Network
Get Seed Funding For Your Kentucky-Based Business
The growth of high-tech firms in the state of Kentucky is dependant on new forms of capital in order to help further economic development in Kentucky’s recession-stricken economy. The research for and implementation of new products and technologies can be beyond the means of start-up companies who strain to come up with the private investment funds. Newer firms need alternative forms of funding to turn to must turn to alternative financing, commonly referred to as, “pre-seed” or “seed” funding.
Pre-seed as well as seed funding sources are often provided by both federal and state financial programs. Private venture capital companies make up the other sources for the initial funding. Numerous additional forms of funding incentives are offered to local Kentucky firms either looking to locate or further-develop their business within Kentucky.
To learn more about High Tech seed funding
You can visit Kentucky.gov, for more information on sources of funding for High-Tech firms in the Bluegrass state.
For a community based business resource navigator, follow the link (below) and select your desired community. You will be able to select relevant information within the online “Small & Minority Business Branch”. Simiply select whether you are a new business or an existing business. The category “Years 3-5 (Sustaining)”, provides useful ongoing advice for your existing business as well.
http://www.thinkkentucky.com/SMBD/ERN/ernMain.aspx
Seed funding awards: a list of one term’s receipiants and award levels
http://kentucky.gov/Newsroom/thinkkentucky/hightechinvestmentpool013108.htm
Concerning KY Community Business Info and General Research Questions:
Office of Research & Information Technology
Phone: (502) 564-4886
Email: econdev@ky.gov
Small Business Advocacy
For more information or assistance,
please email Ken.Robinson@ky.gov
or call Kentucky Commission on Small Business Advocacy at 877-355-3822.
Private Venture Capital
For a list of private venture capital sources:
Private Venture Capital in Kentucky
Commonwealth Seed Capital, LLC
Commonwealth Seed Capital is dedicated to creating high-technology jobs and will provide the needed seed capital for high growth potential, high-technology companies. They select companies that have a tendency towards innovation, have a meaningful Kentucky presence, and are expected to generate significant profits for investors. Their typical investment size is up to $250,000 per round. CSC also invests differing amounts in other angel, seed or venture capital funds. To inquire contact:
Primary contact: Commissioner Deborah Clayton,
Department of Commercialization
and Innovation at the Kentucky Cabinet for Economic Development
Or, Growth Services, the CSC fund manager,
www.GrowthServicesLLC.com
300 West Broadway,
Old Capitol Annex,
Frankfort KY 40601
www.thinkkentucky.com/DCI/DCIStateRes.aspx
(502) 564-7670.
