Contact info:
Cincinnati USA Regional Chamber
441 Vine St Ste 300
Cincinnati, OH  45202-2812
1 513 579 3111
cincinnatichamber.com

About the organization:
The Cincinnati USA Regional Chamber is the nation’s fifth largest Chamber, representing the interests of nearly 6,000 member businesses. The Chamber provides numerous services, including business retention and attraction, programs and events, member benefits to improve members’ bottom line, solutions to members’ workforce challenges, government advocacy, and more to create and sustain a positive business climate for our community, including demonstrating a commitment to small business assistance and economic inclusion.

Here are some of the details of INK:

• Provides a program for existing manufacturers who need to make a significant capital investment in Kentucky facilities in order to remain competitive;
• Consolidates KIDA, KREDA, KJDA & KEOZ into a single, more flexible tax incentive program for new and expanding businesses;
• Provides a sales and use tax refund for companies that are heavy users of computer and telecommunications equipment; and,
• Expands KEIA to allow sales tax refunds for the purchase of electronic processing systems costing $50,000 or more.

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.