Turning your business dream

into your dream business

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