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THE KENTUCKY INNOVATION NETWORK HAS BEEN A GREAT
SOUNDING BOARD AND RESOURCE FOR GROWTH.
Drura ParrishFounder and CEO, MakeTimeKentucky Innovation Network client
IN THE PAST YEAR, THE INNOVATION NETWORK HAS ASSISTED CLIENTS IN 110 OF KENTUCKY’S 120 COUNTIES
We’ll help you grow your business.Are you ready to plan, build or launch your business? From offering advice to providing financial support and access to vast state-of-the-art recourses, the Kentucky Innovation Network supports startups and growing small businesses every step of the way.
The Network is comprised of business leaders and mentors who are passionate about entrepreneurism and committed to the success of small business in Kentucky. Twelve offices have been established throughout Kentucky to ensure that anyone with an idea, and the determination to turn that idea into a viable business, has a nearby place where they can receive assistance.
Best of all, our services are free!
NETWORK CLIENTS EMPLOY NEARLY 10,500 PEOPLE INCLUDING BOTH FULL-TIME AND PART-TIME POSITIONS,
WITH AN AVERAGE FULL-TIME SALARY OF $55,900
MORE THAN 1,500 NEW FULL-TIME JOBS CREATED
BY NETWORK CLIENTS
NEARLY 600 NEW PART-TIME JOBS
CREATED BY NETWORK CLIENTS
NETWORK REPRESENTATIVES MADE 1350 VISITS TO CLIENT
COMPANIES
1350
NETWORK CLIENT BASE INCREASED
+50.4%
CAPITAL RAISED BY NETWORK CLIENTS
+$300MILLION
OUT-OF-STATE CAPITAL NETWORK CLIENTS RECEIVED
FROM INVESTORS
+$163.7MILLION
N E T W O R K AC T I V I T Y WA S U P AC R O S S T H E S TAT E I N F Y 2 0 1 5 - 1 6
NETWORK REPRESENTATIVES WERE INVOLVED IN SOME 500 EVENTS
THROUGHOUT THE STATE.
IN 2015-16, NETWORK CLIENTS REPORTED REVENUES OF MORE THAN $1.1 BILLION+1,500
600
We provide the ABCs of starting
and growing your business
Jacob Gahn
Carolyn Gahn
Owner, Sweetgrass Granola Kentucky Innovation Network client
Owner, Sweetgrass Granola Kentucky Innovation Network client
A = ASSESSMENTWhether a first-time entrepreneur or an experienced business owner, everyone could use more knowledge and advice about starting or growing their own company. It doesn’t matter if you’re a seasoned professional or a high school student, the Kentucky Innovation Network can assess your idea, then teach you how to plan, build and launch a business.
We provide assessment of, and assistance with:Business Models Startups
Intellectual Property Learning Resources
Pitch Presentations Workshops/Seminars
Business Plan Competitions Youth Entrepreneur Training
C = CAPITALIZATIONWith all the elements in place, businesses must switch on their lights, crank their machines and produce their products and services. Doing so proves the concept and, if the calculations are right, produces profit. The Network offices offer the tools to help business owners draft a profitability plan, put it in motion and fine tune the process to improve income.
We can help you connect with:Angel Investors
Venture Capitalists
Private Equity
Incubators/Accelerators
Loans/Tax Credits
Financial, Legal and Marketing Experts
Education and Workforce Partners
B = BUSINESS DEVELOPMENTNeed help creating a new product? Is it time to identify or expand the customer base? From discovering and assessing national and global market opportunities to offering prototype development assistance, the Kentucky Innovation Network will help you build a foundation for your business.
We can help you with:Strategy
Business Plan Assistance
Prototype Development
Finding Markets and Customers
Management Consulting
Moral Support & Coaching
Networking Events
Marketing and Sales
IN THE PAST YEAR, THE KENTUCKY INNOVATION NETWORK HAS ENGAGED AND EDUCATED
APPROXIMATELY 7,000 ELEMENTARY THROUGH COLLEGE STUDENTS ABOUT THE OPPORTUNITIES
THAT EXIST WITH BEING AN ENTREPRENEUR.
Ashley WhiteAdored Events by Ashley
Kentucky Innovation Network clientIdea State U Prize Recipient
Cultivating the passion of young entrepreneursThe Kentucky Innovation Network places a special emphasis on educating and encouraging young entrepreneurs from elementary school through college. That’s why Network representatives visited hundreds of schools last year and assisted with a variety of youth competitions, challenges and events aimed at encouraging young people to create the innovative businesses of the future.
Among the topics the Network representatives teach young entrepreneurs:
Idea State U:
» Creating a business model and plan» How to develop a product or idea» Identifying customers» Business ethics» Defining your competitive advantage» Presenting ideas to investors» Pitch competition preparation
NEARLY 650 STUDENTS have participated
225 TEAMS have participated
MORE THAN $900,000 in prize money awarded
The youth entrepreneurial spirit is at its peak during the annual Idea State U statewide business competition. Each year, dozens of teams from Kentucky’s colleges and universities compete for a share of the $100,000 prize pool that is available. Last year, winners included students from Eastern Kentucky University, Hopkinsville Community and Technical College, University of Kentucky, University of Louisville, Lindsey Wilson College and the University of Pikeville.
Dr. Ray Takigiku Founder and CEO,
Bexion PharmaceuticalsKentucky Innovation Network client
SBIR/STTR Grant RecipientTibbets Award winner
MORE THAN $16 MILLION in federal funds were leveraged by Kentucky’s SBIR/STTR program.
23 COMPANIES received SBIR/STTR matching funds in 2015-16, and five of those companies relocated to Kentucky to take advantage of the funds.
155 NEW PATENTS reported by Kentucky’s program participants, including 12 in the last year.
Turning an innovative idea into a commercial successThe Network embraces those who innovate. Since technology changes rapidly, Kentucky assists those entrepreneurs who are creating the breakthroughs of tomorrow and helping them get to market today.
That assistance has energized a culture of entrepreneurship in Kentucky, As proof, consider these facts:
• Elizabethtown ranks #1 in the U.S in the percentage increase of startups; Bowling Green ranks #3 and Lexington ranks # 12
• Two Kentucky companies, Bexion Pharmaceuticas and TranspoagenBiopharmaceuticals have received the prestigious Tibbetts Award for exemplifying the best in SBIR/STTR programsU.S. Census Bureau 2009-2014 study
KyInnovation.com
The Kentucky Innovation Network is the creation of the Kentucky Cabinet
for Economic Development, in cooperation with partner organizations
throughout the Commonwealth. Contact the nearest office today, and
start turning your business dream into your dream business.
For more information, visit KyInnovation.com
Follow your dream to the nearest Network office