Kentucky Commercialization Ventures wins Small Business Administration’s Lab-to-Market Inclusive Innovation Ecosystems Visionary Prize
LEXINGTON (January 28, 2021) – In the fall of 2020, the Small Business Administration (SBA) partnered with the National Science and Technology Council to launch a national competition in search of the nation’s most inclusive research and development (R&D) ecosystems. The Lab-to-Market Inclusive Innovation Ecosystems Competition recognizes the most impactful organizations, programs, and ideas in the nation that focus on engaging underrepresented communities and promoting pandemic response. The Kentucky Commercialization Ventures (KCV) initiative was recognized as a visionary leader for its partnership with Kentucky’s regional universities and community and technical colleges.
“This award is an exciting acknowledgement of our ongoing work to create more inclusive, equitable pathways to innovative industries,” said Monique Kuykendoll Quarterman, KCV Executive Director, “Our statewide collaboration will advance Kentucky as a leader in inclusive innovation.”
Kentucky Commercialization Ventures is a public-private partnership led by the Kentucky Science and Technology Corporation and supported by the Kentucky Cabinet for Economic Development, University of Kentucky, University of Louisville, and the Kentucky Council on Postsecondary Education. The initiative unites all of Kentucky’s public universities and community and technical colleges to advance the state’s growth in technology-focused research and development.
Terry Samuel, president of KSTC stated “this nationally competitive award from the SBA and NSTC is strong recognition that the KCV program, established in July, 2020 has hit the ground running. This award will advance our efforts in building an inclusive ecosystem in Kentucky.”
In coordination with its partners, KCV supports Eastern Kentucky University, Kentucky State University, Morehead State University, Murray State University, Northern Kentucky University, Western Kentucky University, and the Kentucky Community and Technical College System (KCTCS) with commercialization and intellectual property support. This community consists of 22 sites across Kentucky, including over 139,000 students and thousands of faculty and staff.
“This national award recognizes KCV’s unique and innovative approach to creating a commercialization culture at Kentucky’s public institutions of higher education and generating new businesses and jobs” said Tony Ellis, acting executive director of KY Innovation. “It also affirms KCV’s potential to harness the intellectual resources of our public institutions as engines for economic growth. While the KCV partnership is less than a year old, it is already working with faculty and staff to turn their technologies into marketable products and create needed revenue that will allow the partnering institutions to thrive and increase their capabilities. As KCV grows, it will continue to build a culture that promotes inclusiveness in innovation and ensures that these opportunities are available to all of Kentucky’s universities, including those that have traditionally been underserved.”
Out of three available categories of awards and over 160 applicants nationwide, Kentucky Commercialization Ventures was selected for the Visionary prize for creative and actionable ideas for to improve inclusivity in R&D ecosystems. The $25,000 prize award will be used to improve statewide education in innovation and highlight the rapidly growing commercialization community statewide. Candidates were judged by a panel of experts and interagency staff in coordination with the SBA’s Office of Innovation and Technology.
About Kentucky Commercialization Ventures (KCV)
Kentucky Commercialization Ventures (KCV), a program of the Kentucky Science and Technology Corp. and supported by the Kentucky Cabinet for Economic Development, is Kentucky’s pioneering engine for connecting and leveraging Kentucky’s public post-secondary institutions to fuel research, commercialization and economic growth and ignite life-changing impact for individuals, businesses and communities.
KCV partners with Eastern Kentucky University, Kentucky State University, Morehead State University, Murray State University, Northern Kentucky University, Western Kentucky University, and the Kentucky Community & Technical College System as well as the University of Kentucky, the University of Louisville and the Kentucky Council on Postsecondary Education.
For more information about Kentucky Commercialization Ventures, visit kycommercializationventures.com.
KSTC is a private, statewide non-profit corporation committed to the advancement of science, technology, and innovative economic development founded on Kentucky know-how. KSTC seeks to improve the capacity of people, companies, and organizations to build an innovation driven economy in Kentucky.
Monique Kuykendoll Quarterman
P 859-469-6975 | firstname.lastname@example.org