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State of Startups: Kentucky Q4 FY25 Startup News
- Kentucky Science & Technology Corporation
- Aug 13
- 5 min read
The State of Startups: Kentucky report is shared live each quarter during an online update from Kentucky’s six regional innovation hubs. Read below for highlights from Q4 FY25 and register online to hear the next report in real time.
Welcome to Kentucky
Joining the Blue North team is Mitko Karshovski, the new operations director of the soon-to-open SparkHaus in Covington.
SOAR has welcomed two key hires: Sabra Lowe, startup outreach coordinator and Colt Swint, startup pipeline coordinator.
The U.S. Angel Collective has partnered with Render Capital to launch the Kentucky Angel Collective — a new community of accredited and non-accredited investors supporting high-potential founders across the state. This exciting initiative creates a new source of capital for Kentucky’s early-stage companies. Connect with their team to learn more.
Recent Wins
Congratulations to the Kentucky finalists nominated for the EY Entrepreneur of the Year 2025 – East Central Awards:
Chris Dischinger and Mark Lechner, LDG Development, Louisville
Stacey Wade and Dr. Dawn Wade, NIMBUS, Louisville
Tommy Floyd, Denton Floyd Real Estate Group, Louisville
Adam Edelen, Edelen Renewables, Lexington
Tony Lamb, Kona Ice, Florence
Ten Kentucky startups were named “Top 10 Kentucky Tech Startups to Watch,” by Tech Tribune:
Climavision
Brightpick
Accelecom
Virtual Peaker
Forecastr
TO THE MARKET
My Racehorse
OmniLife
Fooji
GoodMaps
These companies are working to build solutions in ethical manufacturing, weather prediction, healthcare teams and more. We’re honored to work with many of these standout startups as they grow.
Awesome Inc Fellowship, a mentor-driven initiative designed to support the growth of high-tech startups in Kentucky, recently welcomed four new companies:
Congratulations to the eight companies that recently received Kentucky SBIR/STTR Match Grants:
B.A. Maze, Inc – $75,000
BumptUp Labs Inc – $75,000
Caza Innovations LLC – $75,000
CreoSalus Inc – $125,000
HeXalayer, LLC – $75,000
Lagrange Scientific, LLC – $125,000
PGXL Technologies, LLC – $75,00
Space Tango LLC – $125,000
Climavision joined the 2025 Compute for Climate Fellowship cohort of the International Research Centre on Artificial Intelligence.
Fort Mitchell-based Hit Seekers Sports Cards earned a spot on the 2025 Inc. Regionals: Southeast list, ranking No. 46 among the fastest-growing private companies in the region.
Ewagers, a skills-based e-wagering platform, was selected for the Future Founders Fellowship Cohort 11, an impressive group of 11 founders whose companies have collectively generated over $400 million in revenue, raised $300 million in capital and created 2,000 jobs.
WholeNote, whose platform helps independent musicians manage royalties, distribution and promotion, won Sprocket’s West Kentucky Innovation Challenge pitch competition, earning $1,000 to support their startup.
Airtrek Robotics helped launch Cincinnati’s new City-as-a-Lab initiative at Lunken Airport – a milestone that highlights their leadership in autonomous ground operations technology.
PreventScripts, a preventative healthcare company, was named one of the top six care navigation and coordination startups to watch and pitched at MedCity Invest in Chicago.
Thanks
We’re grateful to Blue North and the Disabled American Veterans (DAV) for hosting the DAV Patriot Boot Camp — an outstanding program offering free entrepreneurship training, mentorship and support to veterans and their families.
With support from Blue North, The Entrepreneur Blueprint (powered by NKU Innovation and Awesome Inc) launched in May. Over five weeks, NKU faculty and Awesome Inc staff provided aspiring founders with hands-on guidance to turn their ideas into reality.
In June, Queen City Angels Entrepreneur Bootcamp celebrated its 25th year of fueling startup success in Northern Kentucky. More than 100 entrepreneurs, mentors and investors gathered to learn, network and share real-time feedback.
We’re also celebrating a milestone for CREATE, who co-founded the Regional Tech Council one year ago with the Bowling Green Area Chamber of Commerce. Special thanks to Rob Wilson for leading the RTC as it brings tech-focused roundtables to business owners and founders across the region.
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 have three exits to celebrate this quarter:
In the Amplify region, RxLightning was acquired by CoverMyMeds (a McKesson subsidiary).
Also in Amplify, eBlu Solutions was acquired by Knipper Health, through its financial sponsor Frazier Healthcare Partners, via a leveraged buyout (LBO).
In the Awesome region, RD1 Spirits was acquired by InvestBev through an LBO.
Capital
Since January 1, 2025, Kentucky has had 43 startups funded with $148,794,200 in early-stage investment.
Of note this past quarter:
In the Awesome region, The Nuclear Company raised $53M led by Eclipse Ventures, with True Ventures, MCJ, CIV, Wonder Ventures, Goldcrest Capital and other undisclosed vendors.
Also in Awesome, Bespoken Spirits raised $11M from undisclosed vendors to scale production and expand its tech-driven spirits portfolio.
Eastern Light Distilling, supported by the SOAR, Amplify and Awesome regions, raised $10.4M from undisclosed vendors.
Kentucky Innovation Hubs News
Last month, SOAR Innovation hosted their Startup Appalachia Accelerator Founders Weekend – a two-day gathering to connect Appalachian Kentucky’s startup founders together with investors, mentors and partners.
Big congratulations to Sprocket for launching a new digital resource hub for Western Kentucky. The platform includes a job board, mentor network, courses, a community forum, podcast and regional news.
We’re also excited to see the first cohort of Sprocket’s Market Fit Lab take off, led by Entrepreneur-in-Residence John Truitt.
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.
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.