Uptech announces third round program, opens application process

UpTech, Northern Kentucky’s business accelerator program specializing in supporting informatics startups, announced last week that it is now accepting applications for its third funding round—UpTech III. The program begins in September 2014 and applications are currently open through June 9, 2014.
 
The third round program will offer up to $50,000 of investment capital to each company selected for the program—$20,000 up front and an additional $30,000 as agreed-upon milestones are hit. Uptech will also pair each startup with a business mentor and team of professionals, including accounting, banking, legal and sales/marketing partners. UpTech will host the companies in its Covington offices where they will be provided with six months of free office space.
 
“As more and more accelerators are popping up across the country, we feel our program is unique because we’ve really morphed into a customized model to meet individual needs,” says Amanda Greenwell, program manager at Uptech. “We don’t want to adhere to a single template and ask our companies to fit into that. Instead, we work with them on a one-on-one basis and connect them with the resources that are right for them.”
 
Northern Kentucky Tri-ED, the Northern Kentucky ezone, Vision 2015 and Northern Kentucky University (NKU) will continue their support of UpTech throughout the third class.
 
“We’re happy to be able to offer our company direct access to the talent and resources at NKU,” Greenwell says. “Especially for informatics companies, we can offer very specific and unique capabilities.”
 
Uptech’s partnership with NKU allows the Uptech companies to hire NKU students trained in informatics areas like coding, app building and website development and pay for them with a grant provided by Uptech. In some cases, these become the companies’ first hired employees.
 
During the application period, UpTech will host information sessions at its Covington office, as well as webinars, to explain the program and application particulars in greater depth.
 
“We are opening our doors and want to invite the local entrepreneurial ecosystem to see our new space in Covington and learn about what we’re doing,” Greenwell says. “We hope to uncover some new talent for our third round.”
 
To find out more about the information sessions or about Uptech’s third round, visit www.uptechideas.org.