Northern Kentucky companies exploring alternative sources of energy have a new source of funding. The state has launched
Kentucky New Energy Ventures with $5 million it plans to invest in promising renewable and alternative energy companies. The plan is to target high-growth potential, early-stage companies developing and commercializing alternative fuel or renewable energy technologies. “Seed” grants and equity investments will be available and applications are being accepted until April 10.
Start-ups that have "unique and competitive products and technologies that have or will have intellectual property protection,” are what they'll invest in, says Kentucky Economic Development Cabinet Secretary John Hindman. "They must demonstrate that their technologies are commercially viable and that they can lead a successful business venture.'' An application and guidelines are available at
http://www.startupkentucky.com.
Writer: David Holthaus
Source: Mandy Lambert, Ky. Cabinet for Economic Development
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