Startup Incubator looks to grow entrpreneurship in region

A new startup accelerator, UpTech, is partnering with NKU’s College of Informatics to create an incubator that will give 50 new businesses $100,000 to and developmental support over the next three to five years.

The application process opens February 1 and closes on March 1 for early-stage informatics companies from all over the world. The 50 winners will receive the startup funds, as well as six-months of office space in Newport, access to the College of Informatics, and even interns from NKU to help with the startup process. The program will run for three to five years, dealing out portions of the $5 million investment in rounds of ten.

A panel of national informatics, futurists, business and investment experts from leading companies such as CBS, Cisco, Dell, Procter & Gamble, SAP, Scripps, and Summus Software will serve as the contest judges. Winners will be determined through an online application and review process, which will look at seed level ideas to support five sectors of informatics: health information technology, cloud computing virtualization, business analytics, and digital media, and cyber security.

UpTech is a partner of Vision 2015, an organization that has made a plan to economically transform Northern Kentucky. UpTech is in line with the plan of 2015 because it aims to bring some of the most innovative and forward-thinking companies to Northern Kentucky.

The partnership with the NKU College of Informatics, which is one of only a few in the country, is beneficial for both NKU and UpStart. UpStart will receive access to the $60 million state of the art facility, while NKU will receive the presence of the companies and well as recognition that could bring the college national attention.

“Several Greater Cincinnati-area companies have joined forces with UpTech to provide the winners with the critical business support they need during the early foundational stages,” said Bill Scheyer, co-founder of UpTech. “These local companies will provide the legal, financial, accounting, and marketing/public relations support startups need to become strong, successful businesses."

By Evan Wallis