Long-term Vision & Immediate Impact

July 1, 2021 - June 30, 2022 Impact Report

Scroll to read this year's highlights or download the full report.

Connecting Dots
We lead innovative initiatives that bring public and private partners together for the advancement of innovation across the Commonwealth.
 
This year, KSTC hit big milestones for both decades-long programs and new initiatives.
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We celebrated 20 years of investing in Kentucky companies by launching the new Keyhorse Capital brand.
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KCV facilitated the first-ever patent application from a Kentucky community college and the first income from a KCV-supported licensing agreement.
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VALLO wrapped up its 4-year grant and secured funding for a new initiative, VALOR, through the Kentucky General Assembly.

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From Paducah to Pikeville, Covington to Bowling Green and everywhere in between, KSTC is making a difference across the Commonwealth of Kentucky. 

In addition to KSTC offices in Lexington and Louisville, we have team members in six additional locations, manage the six regional KY Innovation Hubs, partner with Kentucky's 24 public higher education institutions, and work with K-12 schools in 90 counties.

This map is interactive! Explore our programs across the state.

From education and research to capital and business services, KSTC supports innovation at all stages.
 
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Kentucky Commercialization Ventures partners with Kentucky higher education institutions to move great ideas and research into products on the market. The team facilitated the first-ever patent application from a Kentucky community college (a provisional patent for innovations in 3D printing developed at Somerset Community College) and the first income from a KCV-supported license agreement (between EKU and a faculty-led startup, Eastern Scientific).

Initiatives to Empower Big Ideas

Seven Fellows graduated the inaugural cohort of the KCV Innovation Fellowship, designed to equip the next generation of innovation ecosystem builders. 

We awarded $86,000 to enhance development of innovations at five different regional institutions in the first-ever KCV IMPACT Competition.

We launched the Kentucky Intellectual Property Alliance (KYIPA)  to facilitate the creation, protection and advancement of IP in Kentucky.

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"We would not be able to move forward with our research efforts without the KCV IMPACT funds."

– Dr. Daniel Boamah

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AdvanceKentucky works with school districts across Kentucky to provide professional development, mentoring and student recruitment to increase enrollment and success in STEM classrooms. To date, we've reached schools in 90 counties across the state through its three programs: College Readiness Program, Access to Algebra and Computer Science Initiatives.

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6K+

Teachers Served to Date

155K+

Students Enrolled to Date

$27M+

Earned to Date through Student Incentives, Teacher Stipends and Tuition Value

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KSEF removes barriers to SBIR/STTR funding for research and development that fuels technological and economic growth in the Commonwealth. This year we introduced a new microAward program to provide grants of up to $5,000 for proposal expenses and reduce the barriers early-stage companies face when seeking SBIR/STTR funding. 

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"The KSEF SBIR microAward truly removed barriers to our startup’s prototype research and design activities."

– Dr. Bernard V. Miller III, Founder/CEO of Miller Diversified Health Partnerships, LLC

 

Image by JJ Ying

$117K+

microAward Funds Distributed

79

Companies Served

32

Companies Enrolled in DOD & NASA Accelerators 

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KSTC partners with KY Innovation to manage Kentucky’s six regional innovation hubs and provide support for entrepreneurs and high-tech, high-growth-potential startups. This year we established metrics to help the hubs track startup successes in their region and produced quarterly public updates to increase transparency and share big wins.

Resources to Help Kentucky Startups Succeed

To help hubs track their successes we provided training, support and enhancements for software tools such as Salesforce and PitchBook.

We created a Startup Resources Tool Kit of statewide tools, resources and programs so hubs can easily connect entrepreneurs to resources.

Kentucky now has its own, comprehensive Startups Funded tracking report utilizing verified anecdotal data and PitchBook information.

“This is great! Thanks for getting something out there for us to leverage!” 

- Colby Hall, SOAR

(referencing the new Startup Resources Tool Kit)

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The Kentucky Procurement Technical Assistance Center (KYPTAC) promotes inclusive economic development across the state of Kentucky by assisting companies in the process of providing products and/or services to federal, state and local governments. This year we expanded our reach with two new regional offices in Elizabethtown and Bowling Green.

Partnerships to Increase Access

This year we partnered with University of Kentucky and Turner Construction to launch a new Construction Diversity Accelerator to help underrepresented construction businesses gain access to tools, resources and opportunities to be competitive in the construction industry. The inaugural cohort of 15 companies completed the 10-week program in May 2022.

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Veterans Accelerated Learning for Licensed Occupations (VALLO) is a four-year, $1.5 million U.S. Department of Labor grant awarded to KSTC in 2018. VALLO works to ease transitions for military service members by overcoming burdensome disconnects between military training and civilian licensure requirements.

44

Accelerated Occupational Pathways

55

Levels of Licensure Covered

180

Military Occupational Specialties Connected to Licensed Employment Opportunities

VALOR: Putting the Pathways to Work

In 2022 the Kentucky General Assembly tasked and funded KSTC to establish a two-year program that capitalizes on the accomplishments made under the VALLO grant. The new program, Veterans Accelerated Licensure Occupational Recruitment or VALOR, aims to utilize the VALLO pathways to proactively recruit transitioning service members, veterans and military spouses to Kentucky.

 
 
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To celebrate 20 years of investing in Kentucky’s early-stage startups, KSTC launched the new Keyhorse Capital brand. This rebrand of our investment arm sets the stage to increase access to capital and expand opportunities for all Kentucky entrepreneurs through collaboration with accelerators, incubators, innovation partners and peer investors throughout Kentucky and the U.S.

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Companies Awarded

$4.8M+

Amount Awarded

304

Total Number of Investments

Supporting Founders with a Vision to Go the Distance
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Download the Full Impact Report to Learn More
KSTC Impact Report Cover Image includes the KSTC logo and dates July 1, 2021 - June 30, 2022 and features two KSTC employees standing beside a KSTC sign and table in the capitol building.
Thank You to Our Partners

Program Funders

 

Appalachian Regional Commission with SKED and Advantage Kentucky Alliance

Code.org

GEAR Up with Partners for Rural Impact

Kentucky Department of Education

KY Innovation at the Kentucky Cabinet for Economic Development

Raytheon

U.S. Department of Defense

U.S. Department of Labor

U.S. Small Business Administration (SBA)

SBA FAST Program

Growth Accelerator Fund Competition

Lab-to-Market Inclusive Innovation Ecosystems Competition

Donors

Breeding Henderson & Hord
 

Central Bank & Trust Company


Eastern Kentucky University

 

Jane and Terry Samuel

 

Joanne Lang

 

Lexmark International

 

Murray State University

 

University of Kentucky

With Support From

 

Amplify Louisville • Blue North • Bowling Green Chamber of Commerce • Brown Foundation • Code.org • CSforALL • Eastern Kentucky University • Fayette County Public Schools • Initiative for Military Families • Kentucky Community & Technical College System • Kentucky Highlands Investment Corporation • Kentucky State University • Kentucky Veteran Business Alliance • Lexington-Fayette Urban County Government • Morehead State University • Murray State University • National Math & Science Initiative • Northern Kentucky University • Representative DJ Johnson • Shaping our Appalachian Region (SOAR) • Somerset Community College • Southeast Kentucky Economic Development (SKED) • Sprocket • Turner Construction • University of Kentucky • University of Louisville • Western Kentucky University

Get Involved

Contact us to learn more about KSTC and how you can help build an innovation-driven economy for Kentucky.