State of Startups: Kentucky Q3 FY25 Startup News

Kentucky State of Startups Q2FY25 on denim blue background

The State of Startups: Kentucky report is a roundup of startup news throughout the commonwealth and is shared live each quarter during an online update from Kentucky’s six regional innovation hubs. Read below for highlights from Q3 FY25 and register online to hear the next report in real time.

Welcome to Kentucky

We have a new team member joining our Hub crew this last quarter. In the SOAR region, we welcomed Kacy Hicks, the new Director of Entrepreneurship, leading the eastern area of Kentucky.

Covington Life Sciences Partners proudly welcomed Christin Godale, Ph.D., a member of the Blue North Entrepreneurship Leadership Council, as its new Executive Director. Under Christin’s leadership, Northern Kentucky is poised to become a nationally recognized hub for life sciences innovation.

New Global Systems, a platform designed to transform ridesharing in rural areas, was awarded SBIR match funding through the Kentucky Cabinet for Economic Development. They are relocating to Paducah and have begun their journey within the Sprocket ecosystem.

Recent Wins

Eleven Kentucky companies made the Inc. 500 Southeast ranking (rank/company/location/industry/percentage growth 2021-2023):

· No. 17: OnPoint Warranty Solutions, Louisville, business products and services, 738%

· No. 46: Hit Seekers Sports Cards, Fort Mitchell, retail, 239%

· No. 57: Athlete Essentials, Lexington, financial services, 187%

· No. 70: Calhoun Construction Services, Louisville, construction, 156%

· No. 72: Kona Ice, Florence, food and beverage, 153%

· No. 106: Trim NuLu, Louisville, consumer products, 99%

· No. 115: Diversified Capital Management, Newport, construction, 91%

· No. 143: ACE Consulting Company, Nicholasville, construction, 59%

· No. 150: Motus Freight, Bellevue, logistics and transportation, 53%

· No. 160: CisCom Solutions, Louisville, IT services, 48%

· No. 162: LandCal Logistics, Georgetown, logistics and transportation, 46%

Congratulations to the Awesome Fund on surpassing their fundraising goal of $5M. That’s a testament to the strength of the ecosystem and the confidence their investors have in their ability to back high-growth companies. So far, the fund has invested ~ $1M in nine companies.

Congratulations to the five Phase II winners of Access Ventures’ 2025 Reconstruct Challenge, who are working to build solutions in food justice, maternal and child health, and healthcare access:

· Navigate Maternity

· Feed Louisville

· Attane Health

· Kyndly

· Granny’s Birth Initiative (GBI)

Airtrek Robotics, Northern Kentucky’s innovative leader in autonomous ground-handling solutions for the aviation industry, was named a finalist for the prestigious 17th Annual SXSW Pitch Competition.

Feedcoyote, a platform with a community of freelancers, has grown to have over 60,000 members on their app and we’re pleased with the support and investment they received from Nex Cubed.

Natalie Davis, founder of Prevent Scripts, a preventative healthcare platform, was named one of the best digital health influencers by Nozomi.

We’re very excited for serial entrepreneur Brad Luttrell, the recent launch of Prologue, helping brands and leaders unlock their most powerful stories. Prologue provides tools, coaching, and strategy to help teams establish their audience, find their voice, and build a brand that resonates. All our startup founders can use this service when fundraising or selling.

Goodmaps, led by Theresa Reno-Weber, is an app that enables effortless navigation and interaction in complex indoor spaces. They’ve started its roll out in Tennessee to make places in the state more accessible to everyone.

Wenzel Sherry Finish was named Best Finished Bourbon in the World at the World Whiskies Awards, marking a major win for Northern Kentucky’s craft spirits scene.

Beltways was a 2025 Coolest Thing Made in Kentucky semifinalist, advancing to Round 2. They boast being the smartest, safest, and fastest walkways in the world.

Ines Rivas-Hutchins, the Sprocket Board Chair and founder of Intec Group, a premier government contractor, was named to Inc. Magazine’s Female Founders 500 list for 2025.

Thanks

We’re grateful to the Bowling Green-based Regional Technology Council, along with CREATE, and their peer group meetings for their tech community: one meeting focused on data analytics, a second was on product, and another on lean principles.

New Riff Distilling’s collaboration with Blue North on the limited-edition Spark bourbon blend has fueled entrepreneurial growth in northern Kentucky, with half the proceeds supporting the Northern Kentucky Entrepreneur Fund. They raised vital support for nearly 40 local startups and small businesses.

Exits

A startup exit is when the founders and investors of a startup cash out—usually by selling the company or taking it public. It’s basically the endgame for most startups, where all the effort (and risk) ideally turns into a financial reward.

We had three exits in this past quarter:

• In the Awesome region, BusinessU was acquired by Stukent, through its financial sponsor Tritium Partners.

• In the Amplify region in Elizabethtown, RealizedCare, formerly BehaVR, was acquired by Boston-based XRHealth USA.

• And in the Amplify region, big news! Louisville-headquartered Alani Nutrition was acquired by Celsius (Nasdaq: CELH) for $1.8B. Alani Nu is a health and wellness brand that sells energy drinks and wellness products. Congratulations to Katy Hearn, co-founder & CEO, and the Alani Nu team.

Capital

Since January 1, 2025, Kentucky had 17 startups funded with $29,555,500 in early-stage investment.

Of note this past quarter, in the Blue North region, Gravity Diagnostics has raised $5M from Advantage Capital and Community Development Venture Capital Alliance.

And in the Amplify region, Wicked Technologies closed on $4,680,000 led by Boomerang Ventures and from Keyhorse Capital, Commonwealth Seed Capital and Flywheel Fund.

About the Kentucky Innovation Hubs

The Kentucky Innovation Hubs, managed by KSTC and funded by KY Innovation at the Kentucky Cabinet for Economic Development, are a network of six regional centers across the state with the purpose of driving economic development through entrepreneurship and innovation. Each Hub acts as their region’s “front door” to deliver services — while leveraging local partnerships and regional organizations — and assists entrepreneurs across industries and stages of development as they advance their businesses.

A map of Kentucky divided into regions indicated by the six innovation hub logos: Sprocket, Amplify, CREATE, Awesome Inc, Blue North, SOAR

Key Services Provided by the Hubs for Tech Startups

Startup Coaching:
- Provide tailored, consultative coaching to numerous startups, helping founders refine their business models and strategies.
- Facilitate access to essential resources such as capital, customers, mentors, and talent.
Access to Capital:
- Assist startups in securing funding through various channels, contributing to their financial stability and growth.
- Organize pitch events and investor meetings to connect startups with potential investors.
Customer Acquisition:
- Support startups in identifying and reaching their target markets, leading to increased customer acquisition.
- Provided strategic introductions to key industry players and potential clients.
Mentorship Programs:
- Match startups with experienced mentors who provided guidance and support throughout their entrepreneurial journey.
- Conduct regular mentorship sessions and workshops to enhance the skills and knowledge of founders.
Talent Development:
- Help startups in sourcing and recruiting top talent to build strong, capable teams.
- Offer training programs and workshops to improve the capabilities of startup teams.
Strategic Introductions and Networking:
- Facilitate networking events and strategic introductions that encourage collaboration and partnerships within the ecosystem.
- Enable startups to connect with industry experts, potential partners, and other key stakeholders.

Through these initiatives, the Kentucky Innovation Hubs have significantly contributed to the growth and success of startups, strengthening the state's tech economy and fostering a thriving entrepreneurial environment. We are committed to maintaining this momentum and continuing to support the innovators and entrepreneurs who drive Kentucky's vibrant startup ecosystem.